logo
Top global leaders to attend Asean Summit

Top global leaders to attend Asean Summit

The Sun2 days ago
CYBERJAYA: Prime Minister Datuk Seri Anwar Ibrahim has announced the attendance of an unprecedented gathering of global leaders at the Asean Summit, including US President Donald Trump, Brazilian President Luiz Inacio Lula da Silva, South African President Cyril Ramaphosa, and potentially Chinese President Xi Jinping.
Speaking at the 58th Asean Day celebration yesterday, Anwar said the upcoming summit in the final week of October will be Asean's largest gathering and aims to deliver a veritable assembly of the world's principal centres of power and influence.
'Securing their presence is only the first step. The greater test is to ensure that they leave Malaysia and Asean feeling their time was well spent.
'We must ensure that their visit yields results of lasting value. The eyes of the world will be upon us. We must therefore rise to the occasion,' he said.
Anwar also commended the vision and contributions of Asean leaders, noting their strong principles and foresight to look beyond domestic issues.
'Not only do they focus on internal matters, but they also consider the interests of neighbours, the region and the world.'
Anwar highlighted that anniversaries like the 58th Asean Day are moments to reflect on the journey so far and the path ahead.
He expressed confidence that the founding fathers of Asean – Adam Malik, Tun Abdul Razak, S. Rajaratnam, Narciso Ramos and Thanat Khoman – would look upon Asean's progress with pride.
'They understood that the region's first task was to ensure that Southeast Asian nations could live together in amity and cooperation.
'They also recognised that Southeast Asia must take primary responsibility for its own peace, security and prosperity. It was the foundation of our beginning in 1967, and it remains the measure of our relevance today. Peace among nations, peace within them, these are the foundations of our regional community.'
Anwar cautioned against taking peace for granted and emphasised Asean's responsibility to forge regional solutions to regional problems.
He cited the recent escalation of tensions along the Cambodian-Thai border as a reminder of how swiftly conflicts can arise when left unresolved.
'As Chair, Malaysia has worked constructively to facilitate talks between the two countries. I must recognise the full support of Asean leaders including Tuanku Sultan Brunei and the presidents and prime ministers across the region, whose solidarity, commitment, trust, friendship and brotherhood made this possible.'
He said the successful brokering of a ceasefire, supported by President Trump and China, is an unprecedented achievement demonstrating Asean leaders' strength and resolve.
'I was told that in the history of ceasefires in the world, in the past many decades if not centuries, this was probably the first ceasefire that worked fast and effectively due to the support of everyone.'
Anwar said the defence ministers of Cambodia and Thailand reached a final agreement after detailed deliberations, with US and China supporting logistics and Malaysia moderating their bilateral understanding.
'Asean leaders stand ready to provide any necessary support to ensure lasting peace between Cambodia and Thailand.'
Turning to Myanmar, Anwar acknowledged progress in achieving a ceasefire, with Asean foreign ministers set to visit soon to encourage a cessation of hostilities and promote dialogue among stakeholders.
Looking beyond peace and security, Anwar stressed Asean's aim to strengthen its economic foundation through enhanced intra-Asean trade and investments, regional energy grid projects and improved connectivity — the core thrust of the economic agenda leading up to October's summit.
'We have now entered the final stretch of our chairmanship. In just over four months, we will pass the mantle of responsibility to my friend, Bongbong Marcos of the Philippines. Yet, much remains to be done in this closing phase, particularly in the lead up to the 47th Asean Summit and related summits in October,' said Anwar.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says he hopes China buys four times as much US soybeans
Trump says he hopes China buys four times as much US soybeans

The Star

time29 minutes ago

  • The Star

Trump says he hopes China buys four times as much US soybeans

FILE PHOTO: Mark German loads soybeans from grain bins into a truck so they can be hauled to an elevator and sold on August 01, 2025 in Dwight, Illinois. China agreed to step up purchases of US agricultural goods like soybeans during the so-called phase one trade agreement reached during Donald Trump's first term, but fell well short of the purchase targets. - AFP WASHINGTON: US President Donald Trump said he hoped China massively stepped up its purchases of American soybeans - comments that come a day before a trade truce expires. "China is worried about its shortage of soybeans,' Trump wrote on the Truth Social website on Monday (Aug 11). "I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China's Trade Deficit with the USA.' Trump also thanked Chinese leader Xi Jinping in the post, without saying why. China has long fretted about reserves of soybeans, which are a key element of the nation's diet and livestock feed. Beijing faces an Aug. 12 deadline for its tariff truce with the US to expire, though the Trump administration has signalled that is likely to be extended. China agreed to step up purchases of US agricultural goods like soybeans during the so-called phase one trade agreement reached during his first term. Beijing fell well short of the purchase targets in that pact. - Bloomberg

Marcos says Philippines would be dragged 'kicking and screaming' into Taiwan war
Marcos says Philippines would be dragged 'kicking and screaming' into Taiwan war

The Star

time2 hours ago

  • The Star

Marcos says Philippines would be dragged 'kicking and screaming' into Taiwan war

MANILA: Philippine President Ferdinand Marcos (pic) warned Monday (Aug 11) that his country would be dragged "kicking and screaming" into any war over Taiwan, but must prepare for it. China considers self-ruled Taiwan, Manila's closest neighbour to the north, to be part of its territory and has threatened to seize it by force. "If there's a war over this it is near us. What are we supposed to do?" Marcos told a news conference, adding: "We can't ignore it." "So inevitably, despite our fervent wish to avoid any confrontation with anybody, anywhere, a war over Taiwan will drag the Philippines, kicking and screaming into the conflict," he said. "I hope it doesn't happen... But if it does we have to plan for it already," he said, citing the large numbers of Filipinos working in Taiwan. In an interview with Indian news agency Firstpost during a state visit to New Delhi last week, Marcos said that in the event of a confrontation between China and the United States over Taiwan, "there is no way that the Philippines can stay out of it simply because of our physical geographic location". "If there is an all-out war, then we will be drawn into it," Marcos said in the interview, which was uploaded on YouTube. The reported comments angered Beijing, with the the Chinese foreign ministry lodging a diplomatic protest and accusing Marcos of "playing with fire" over the issue. China and the Philippines have engaged in a series of confrontations in the South China Sea, which Beijing claims almost entirely despite an international ruling that the assertion has no legal basis. Since his election in 2022, Marcos has boosted cooperation between the former US colony and the United States, with which Manila has a mutual defence treaty. - AFP

Singapore can deliver and thrive in a fragmented global economy: Morgan Stanley analysts
Singapore can deliver and thrive in a fragmented global economy: Morgan Stanley analysts

The Star

time2 hours ago

  • The Star

Singapore can deliver and thrive in a fragmented global economy: Morgan Stanley analysts

SINGAPORE: As investors look in bewilderment at the fast-deteriorating global economic landscape under US President Donald Trump's onslaught on globalisation, some analysts are looking to Singapore as one of the few safe havens worldwide. One of these analysts is Derrick Kam, a Singapore-based Asia economist at US investment bank Morgan Stanley who believes the Republic is one of the few that offers more visibility on growth potential, political stability and governance quality. He believes that Singapore has a proven track record of making policies needed to adapt to a changing global economic environment. 'Where Singapore excels is sort of being able to spot these global trends and try to navigate through them... and then get ahead of them,' he said in an interview with The Straits Times, along with the bank's head of Asean research Nick Lord. Both the analysts recently co-authored a research report, Singapore At 60: Unlocking Wealth Creation, which tells investors that 'now is the time to build exposure to this dynamic and enterprising market'. The report references post-independence Singapore turning 60 in 2025. The report highlights the various initiatives Singapore has launched in recent years – to reinforce its hub industries and implement emerging technologies such as artificial intelligence (AI) to boost productivity – which could see its household net assets almost doubling to reach US$4 trillion (S$5.13 trillion) by 2030. Morgan Stanley sees the surge in household net assets as a tangible sign of real wealth creation – the process of growing assets and financial resources over time to achieve financial security and independence. The bank believes that wealth creation will be an essential part of the process by which developed economies such as Singapore will support their populations and mitigate risks inherent in a multipolar world, with an ageing population, changing patterns of energy production and consumption, and spread of new technologies. 'The next step forward, we believe, will be wealth creation – building upon Singapore's established brand and economic success to further grow the country's capital and global financial standing,' the Morgan Stanley analysts said in the report. The report highlights prospects of the Singapore stock market after the launch earlier in 2025 of a series of measures by the Equities Market Review Group, established by the Monetary Authority of Singapore. Morgan Stanley believes the market reforms – including a $5 billion Equity Market Development Programme announced in February – could drive up return on equities and other market multiples and lead to a doubling of stock market capitalisation by 2030. On hub industries, Morgan Stanley expects Singapore to reinforce its energy hub by also becoming a major trading centre for liquefied natural gas and carbon trading as the world moves from fossil fuels to renewables. Already home to 400 global traders that transact 20 per cent of the world's energy and metals trade, Singapore could see services related to carbon trading alone generate as much as US$5.6 billion in gross value to its economy by 2050, according to the Economic Development Board's estimates. Singapore is also the world's third-largest foreign exchange (FX) trading hub after London and New York, and the biggest in the Asia-Pacific. Almost US$1 trillion of FX is traded in Singapore every day. Morgan Stanley expects that as Asian currencies take a larger share of daily global FX trade, this would make Singapore a more crucial currency trading centre, even if it does not surpass London or New York. The bank believes that Singapore can become a more significant transport and tourism hub as well, with airport capacity expansion projects and technology enhancements supporting its long-term growth goals. The Singapore Tourism Board's 2040 road map targets tourism receipts reaching $50 billion. Changi Airport plans to invest $3 billion to improve services over the next six years. It will also start the construction of Terminal 5 and open it to the public in the mid-2030s. Finally, Singapore – along with Japan and Malaysia – is likely to get a disproportionate amount of investments for new data centres and generative AI investments by the likes of Amazon Web Services, Microsoft, GDS and other regional and global hyperscalers. Singapore has 26 subsea cables landing across three sites – one of the highest in Asia – and its domestic infrastructure is set to be upgraded to support 10 gigabits-per-second broadband speeds within the next five years. 'We believe strengthening its leadership position in key hub industries and continuing to adopt technological advancements will yield strong productivity gains for Singapore,' Kam said in the interview. He estimates that AI adoption can potentially help Singapore sustain medium-term gross domestic product growth of around 3 per cent, which would keep Singapore as one of the fastest-growing developed economies in the world. The Morgan Stanley analysts do recognise the risks that can hinder Singapore's progress on these initiatives, but they believe its proactive policymaking will keep it a step ahead of others. The Singapore Government is trying to be as proactive as it can be. Soon after the April 2 launch of Trump's reciprocal tariff policy, the Republic set up the Singapore Economic Resilience Taskforce to help businesses and workers navigate the immediate uncertainties arising from the US tariffs and related global developments. On Aug 4, it launched an Economic Strategy Review (ESR) to help ensure Singapore thrives in the new global economic landscape. The ESR comprises five committees, each co-chaired by two political office-holders who will be joined by private sector, union and other stakeholders. The committees will engage widely with businesses and workers and other stakeholders and publish their recommendations by mid-2026. Most analysts believe similar initiatives helped the country manage crises in the past, including the more recent Covid-19-induced downturn. Lord said: 'So the question is: Can Singapore adapt more successfully than others? And the track record would suggest it probably can.' - The Straits Times/ANN

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store