Tengku Zafrul: Asean wraps up Atiga upgrade talks, to sign expanded free trade pact in October
KUALA LUMPUR, May 25 — Members of the Association of South-east Asian Nations (Asean) today concluded negotiations for an expanded Asean Trade in Goods Agreement (Atiga), a move it said would bolster the existing free trade pact and beef up trade within the bloc.
Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz said the agreement is expected to be signed in October, together with the third upgraded Asean-China Free Trade pact.
Details of the new trade agreements were not disclosed, but Zafrul said Atiga, for example, would have 'forward-looking and meaningful' provisions to deepen economic integration and boost 'supply chain resilience'.
'Both agreements are expected to be signed on the sidelines of the 47th Asean Summit in October 2025 here in Kuala Lumpur,' he told a press conference after concluding the AECC meeting this morning.
'We remain confident that these milestones will serve as a pivotal enabler for Asean's sustained growth and competitiveness.'
MORE TO COME
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
34 minutes ago
- Bloomberg
Taiwan Life Insurers' $700 Billion Bet on the US Is Backfiring
For decades, Taiwan's life insurance companies boasted of above-average returns from their heavy investment in US bonds. That reliance is now a major risk threatening more than $700 billion of assets. Unlike insurers in other countries like Japan where diversification is the norm, Taiwanese firms have more than 90% of their overseas assets denominated in the dollar. This puts them at risk of a long-term decline in the US currency as the appeal of American exceptionalism wanes.
Bloomberg
34 minutes ago
- Bloomberg
Asian Markets Await More Details on US-China Trade Talk Progress
Asia's traders mostly shrugged off news of a preliminary US-China trade deal, with most looking for more details from the accord before making investment plans. Initial market reaction was minimal with US equity futures edging lower while the offshore yuan little changed. The yen drifted higher.
Wall Street Journal
an hour ago
- Wall Street Journal
GM to Expand Vehicle Production in the U.S.
The new investment gives General Motors the ability to assemble more than two million vehicles per year in the U.S., the company said. Read more:
