logo
The Philippines supports Malaysia's call for Asean unity in US tariff talks

The Philippines supports Malaysia's call for Asean unity in US tariff talks

KUALA LUMPUR: The Philippines and Malaysia continue to deepen their longstanding relations through shared priorities and active collaboration, both bilaterally as well as within Asean, said Philippine Ambassador to Malaysia Maria Angela A. Ponce.
She reaffirmed the Philippines' support for Malaysia's leadership and commitment to preserving Asean's relevance as a unified economic bloc, especially in the face of shifting global economic dynamics.
"Asean with a population of over 600 million, holds significant influence as the world's fourth-largest economic bloc.
"We must work together to leverage our collective strength," she said during an interview with Bernama TV on Tuesday.
During a briefing session on the US tariffs at a special Parliament session on Monday, Prime Minister Datuk Seri Anwar Ibrahim emphasised the need for Asean to adopt a collective position on the issue, reflecting the regional bloc's solidarity and economic strength in engaging with the US.
Ponce also expressed the Philippine's confidence in Malaysia's leadership as this year's Asean Chair, noting that Malaysia has shown adaptability and clarity in addressing complex challenges.
"The Philippines, which will chair Asean in 2026, continues to coordinate closely with Malaysia on key issues such as the South China Sea and the ongoing situation in Myanmar," she said.
She also voiced the Philippines' support for Timor-Leste's progress towards full Asean membership, acknowledging the challenges involved but expressing optimism about the country's commitment and integration into the regional framework.
"We are confident in Timor-Leste's ability to meet Asean's membership requirements," she said.
On bilateral ties, the ambassador highlighted key areas of growing engagements between the two countries.
These include halal cooperation, tourism, the digital economy, and Islamic finance, all of which have seen significant progress under the leadership of President Ferdinand R Marcos Jr and Anwar.
The Philippines has benefitted from Malaysia's experience and expertise in the halal industry development.
"Malaysia's halal ecosystem is one of the best in the world.
"Through training and capacity-building programmes, we have been able to enhance our frameworks, and Malaysia's guidance has been invaluable," she added.
Ponce also emphasised the importance of people-to-people ties as the foundation of both bilateral and regional cooperation, underscoring the need to continue engaging the younger generation in shaping the future of bilateral relations.
"Youth exchange programmes, educational linkages, and shared initiatives in digital innovation are essential for ensuring that ties between Malaysia and the Philippines remain dynamic and forward-looking," she said.
Tourism was also highlighted as a growing sector, with Malaysia consistently ranking among the top ten sources of visitors to the Philippines.
"We are now looking to expand Islamic tourism, including the availability of halal-certified facilities to cater to Muslim travellers," she said.
Interest in Islamic finance is also gaining momentum, noted Ponce, highlighting that the Philippine central bank recently held a roadshow in Malaysia to attract investment in the sector.
She emphasised that Islamic finance complements broader environmental, social, and governance (ESG) goals, making it appealing not only to the Muslim community but also to a wider audience seeking ethical and sustainable financial solutions.
Ponce also encouraged Malaysian businesses to participate in upcoming trade events in the Philippines, including the International Food Exhibition (IFEX) Philippines from May 10 to 12, and Manila FAME, a premier lifestyle and design showcase, slated for October 17 to 19.
"These platforms offer valuable opportunities to connect with Philippine exporters and explore collaboration in food, furniture, and creative industries," she noted.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Is America pulling a fast one on China threat?
Is America pulling a fast one on China threat?

Focus Malaysia

time12 minutes ago

  • Focus Malaysia

Is America pulling a fast one on China threat?

THE United States and Malaysia are standing poles apart when it comes to dealing with China, as revealed in the recent Shangri-la Dialogue in Singapore. When US Defence Secretary Pete Hegseth took to the podium, he promptly portrayed China as a very dangerous enemy preparing to 'use military force to alter the balance of power in the Indo-Pacific (region).' 'The threat from China is real,' he told participants from 47 countries gathered at the annual security forum to debate some of the pressing security challenges in these increasingly turbulent times. Presumably, he is raising the red flag over a potential conflict with China should the communist behemoth invade tiny Taiwan that could ignite a wider regional or even a global conflagration. The Indo-Pacific region covers the whole of Asean including Australia, Fiji, Japan, South Korea and New Zealand. But Malaysian Prime Minister Datuk Seri Anwar Ibrahim, who also attended the forum, had a different take that is not exactly in line with the American political playbook. Essentially, he believes in promoting active non-alignment in foreign policy where all countries can pitch in to help 'shape a meaningful global order'. In other words, Malaysia, or Asean, will not side with anyone in a renewed Cold War. Being the Asean chair for this year, Anwar probably thinks he can steer the Asean ship of state away from the turbulent storms emanating from some hotspots around the world. But keeping-your-hands-off policy is unlikely to be effective as a diplomatic tool to calm tempers down because big powers will not listen to the likes of Anwar trying to broker a peace deal. These days the sounds of a world war are getting shriller and it appears the loudest noise is originating from China. America tells the nations in Southeast Asia and other countries the threat from that huge country is credible and hence, there is an urgent need to spend more on defence to meet the Chinese threat. Hegseth may be crying wolf but Asean must not dismiss his warning as just an American ploy to deliberately create trouble in order to pull the bloc away from Beijing and into the US orbit. Is the US pulling a fast one on the China threat? It is highly improbable that Washington wants to play a game of deception when the world knows that China is building up its military arsenal in a possible confrontation with the US over the contentious issue of Taiwan and territorial disputes in the South China Sea. When Hegseth removed the sugar from the coat to expose the unpalatable fact about this looming threat, he must have said it based on solid information about China's rapid military build-up. Where did he obtain such irrefutable proof of this disturbing development? It must have come from US satellite images which clearly showed China's massive expansion in the South China Sea's disputed Spratly Islands archipelago. Malaysia does not possess such technologically advanced 'spies in the skies' that can locate with pin-point accuracy any military activity in any country. Hence, it will be in the dark about what is secretly going on behind the Great Wall of China. But the US has sounded the alarm and Asean must sit up and prepare for a possible aggressive encounter with this giant northern neighbour. It would do well to remember that before Ukraine was invaded, the US, through satellite images, had warned its President Volodymyr Zelensky that Russia was massing troops on the country's borders for an invasion. But Zelensky dismissed the information as an attempt by the West to create unnecessary panic and he paid a heavy price for ignoring the dire warning. Now, a similar pattern is unfolding with, this time, China as the belligerent. There is no escaping from the fact that this superpower is flexing its military might as seen through the eyes of the spies in the skies. Although it is important to maintain vibrant ties with China, it is also equally crucial not to overlook the danger the nuclear-armed country poses to the rest of the world. In the rush to yet another world war, no country can stay neutral or stay safe. All will be sucked into the maelstrom. The weaker ones will have to seek protection from one of the superpowers or band together to help themselves. The danger is real and we ignore it to our own peril. ‒ June 12, 2025 Phlip Rodrigues is a retired journalist. The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia. Main image: Reuters

Asean's ambition of being world's fourth biggest economy by 2030 well within reach: Tengku Zafrul
Asean's ambition of being world's fourth biggest economy by 2030 well within reach: Tengku Zafrul

The Sun

time3 hours ago

  • The Sun

Asean's ambition of being world's fourth biggest economy by 2030 well within reach: Tengku Zafrul

KUALA LUMPUR: Asean's ambition to become the world's fourth-largest economy by 2030 is well within reach, provided the region sustains an annual gross domestic product (GDP) growth rate between 4% and 5%. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz highlighted the region's robust growth prospects at the official launch of the Asean Economic Community (AEC) Strategic Plan today. 'Our economists have thoroughly analysed the growth projections for all Asean economies under current conditions, and we are confident that the targets are indeed achievable,' he said. Tengku Zafrul noted that the Asean Secretariat projects regional GDP growth at 4.7% for 2025, as presented at the latest Asean Economic Ministers' Meeting. 'But things are very dynamic. It depends on the global economic situation. The IMF (International Monetary Fund) will also produce their forecast of global growth,' he said, stressing the need for vigilance amid shifting external factors. Tengku Zafrul emphasised the AEC Strategic Plan's role in keeping Asean's policies current and responsive to evolving business needs and emerging challenges. 'As the first instalment of this long-term vision, the plan serves as a comprehensive roadmap that outlines a clear and actionable path forward,' he said. The plan has been carefully crafted to implement the economic aspects of the Asean Community Vision 2045, leveraging the region's vast opportunities and potential. A key pillar of the plan is the establishment of a forward-looking digital economic framework, which is expected to double Asean's digital economy to US$2 trillion (RM4.5 trillion) by 2030. The focus on digital transformation, alongside sustained economic integration and resilience, positions Asean to not only achieve its growth targets but also to strengthen its global influence. On the domestic front, Tengku Zafrul sees positive signals from foreign investors in Malaysia, with no indication of existing investors withdrawing their commitments despite ongoing global uncertainties. 'So far, no existing investors have expressed any intention to exit Malaysia. They remain committed to their investments, and no cancellations have been announced.' However, he observed that new investors are adopting a more cautious, 'wait and see' approach, influenced by heightened geopolitical tensions – particularly between the United States and China – and broader global volatility. Looking ahead, Tengku Zafrul said his trade negotiations in Washington on June 18 will focus on reducing tariffs on Malaysian exports. 'The negotiations are essentially to address the current tariff structure, where the US has imposed a 24% tariff on Malaysia. Our first goal is to bring that down.' The second objective is to identify key sectors where Malaysia believes tariffs should be reduced even below the 10% floor, targeting industries important to both Malaysian exporters and the US economy. In April, the US government announced new tariff measures affecting more than 60 countries, including Malaysia. The implementation of these tariffs has been paused for 90 days to allow room for negotiations.

Ringgit extends gains against US dollar on tariff uncertainty
Ringgit extends gains against US dollar on tariff uncertainty

New Straits Times

time4 hours ago

  • New Straits Times

Ringgit extends gains against US dollar on tariff uncertainty

KUALA LUMPUR: The ringgit continued to strengthen against the US dollar on Thursday, buoyed by a softer US Dollar Index (DXY), which declined by 0.25 per cent to 98.386 points. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the drop followed news that US President Donald Trump's administration plans to issue letters regarding its tariff decisions within the next two weeks. At 6pm, the local unit advanced to 4.2155/2245 against the greenback, from Wednesday's close of 4.2345/2370. He said the announcement has fuelled further uncertainty over the outcome of the ongoing trade negotiations. "Whatever the case may be, the 10 per cent universal tariff is likely to exert pressure on the US economy and risks of retaliation from other nations across the globe would accentuate the downside risks to global growth," he told Bernama. Emerging market currencies, including the ringgit, are benefiting from the current trend. Next week's Federal Open Market Committee (FOMC) meeting on June 17-18 will be closely monitored by the market participants, he said. At the close, the ringgit traded lower against a basket of major currencies. It fell against the Japanese yen to 2.9329/9394 from 2.9187/9207, weakened versus the British pound to 5.7213/7335 from 5.7166/7200 and fell vis-à-vis the euro to 4.8765/8869 from 4.8426/8454 previously. At the same time, the local currency traded mixed against its Asean peers, rising vis-à-vis the Philippine peso to 7.55/7.57 from 7.57/7.59 and rising against the Indonesian rupiah to 259.5/260.2 from 260.4/260.6. However, the ringgit fell versus the Singapore dollar to 3.2934/3006 from 3.2925/2947 at yesterday's close and declined against the Thai baht to 12.9828/13.0173 from 12.9729/9870 yesterday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store