ASEAN summit kicks off in Malaysia with eye on integration, resilience
Kuala Lumpur, May 26 (UNI) The 46th Association of Southeast Asian Nations (ASEAN) Summit kicked off here on Monday in the capital of Malaysia, with greater regional integration and resilience against trade and economic disruptions high on the agenda.
Speaking at the opening ceremony of the plenary session, Malaysian Prime Minister Anwar Ibrahim urged ASEAN members to work together to face the challenges brought about by a changing world order to ensure the agenda of sustainable and equitable development is not sidelined.
"For ASEAN, our peace, stability and prosperity have often depended on an open, inclusive, rules-based international order, anchored in the free flow of trade, capital and people. These foundations are now being dismantled under the force of arbitrary action," he said.
"Indeed, a transition in the geopolitical order is underway and the global trading system is under further strain, with the recent imposition of U.S. unilateral tariffs. Protectionism is resurging as we bear witness to multilateralism breaking apart at the seams," he added.
Anwar also stressed the importance of strengthening cooperation with friendly partners of the grouping, noting the significance of the first ever ASEAN-China-GCC summit, which brings together the grouping along with China -- the region's biggest economic partner, and the Gulf Cooperation Council (GCC).
Malaysia is the chair of ASEAN for 2025, and is hosting the ASEAN Summit and related summits under the theme "Inclusivity and Sustainability."
Established in 1967, the grouping includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
UNI XINHUA ARN
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
37 minutes ago
- Time of India
In a few months, Noida residents may hail a city bus ride every 10 minute
Noida: The Noida, Greater Noida and Yamuna Expressway development authorities will jointly form a special purpose vehicle (SPV) unit to operate a fleet of 500 electric buses, with Noida leading the initiative. A consultant will be appointed to define the SPV's structure and recommend board members. The proposal for the project was recently discussed in a meeting in Lucknow attended by Noida Authority officials. Once set up, the SPV's details will be shared with the state govt. According to officials, the SPV will bear the operational costs of buses, which will be run by private agencies. Proposed equity split for the SPV is 48% for Noida, and 26% each for GNIDA and YEIDA. Meanwhile, the Directorate of Urban Transport (DUT) is working to hire an agency to operate the buses under the gross cost contract (GCC) model. The project is estimated to cost Rs 675 crore – which would cover the cost of purchasing e-buses, fast chargers (240 kW), plant and equipment, tools, and depot maintenance. Noida CEO Lokesh M said, "To run these buses, an SPV of the three authorities will be formed. While the DUT is procuring the buses and hiring an agency to run them, the viability gap funding will come from the authorities according to their stakes." The SPV will be ready by the time the operators and buses are in place, he added. As per the request for proposal (RFP) floated by DUT in March, the 500 buses will be deployed across 25 routes – 15 in Noida, seven in Greater Noida seven, and three in the YEIDA area. Under this plan, 300 buses will be deployed in Noida (150 12m ones and 150 9m ones), and 100 each will be deployed in Greater Noida and YEIDA. A maximum of two operators will manage the fleet, with services expected to commence in the second half of the year. Buses will ply at 10-15 minute intervals during peak hours and 15–20 minutes during off-peak times. The SPV will manage the fare system, while the operators will be paid on a per-kilometer basis. The project is planned for a 12-year term. As per the RFP, each bus is meant to ply 200km per day. However, in practice, buses may run 250–300km daily. Additional SPV-related costs include salaries for 50 employees (Rs 3 crore annually), office and utility expenses (Rs 2–3 crore), fare collection systems (Rs 2.5–3 crore), a project monitoring unit (Rs 1 crore), and depot maintenance (Rs 1–1.5 crore). Officials said that fares are expected to generate Rs 135 crore annually, with another Rs 10 crore from advertising. However, despite total revenues of Rs 145 crore, projected expenses exceed Rs 370 crore, creating a funding gap of Rs 225–230 crore annually. Noida Authority's share of the viability gap funding (VGF), based on its 48% stake, comes to about Rs 107 crore per year, or Rs 1,290 crore over the contract's 12-year duration. Initially, buses will be operated from terminals located in Sector 82 and Sector 91. Noida Authority will handle the necessary infrastructure development. Within one year of the agreement, Greater Noida and YEIDA will each construct one bus depot, officials added.
India Today
2 hours ago
- India Today
China tells US to restore ties on right track and end 'negative measures'
China's Foreign Minister Wang Yi told US Ambassador to Beijing that the United States must create better conditions to bring bilateral relations back on "the right track." According to the Chinese foreign ministry, the statement came during a meeting on stated that after trade discussions held last month in Geneva, China has "conscientiously and strictly" followed the agreements made by both sides. However, he expressed concern over the US's recent actions. "It is regrettable that the US recently introduced a series of 'negative' measures, which China firmly opposes," Wang told to US Ambassador to Beijing, David pointed out that US-China ties are at a critical juncture, and stressed that the only way forward is through "dialogue and cooperation." Wang also warned that ongoing friction could harm mutual interests if not addressed properly. Perdue said in an X post after the meeting that he had emphasised US President Donald Trump's priorities on trade, fentanyl, and illegal immigration, adding that "communication is vital" to US-China InMust Watch
Time of India
3 hours ago
- Time of India
India should open way for developing nations: WTO
PARIS: While acknowledging unprecedented disruption of multilateral trading system, WTO chief Ngozi Okonjo-Iweala on Tuesday raised the issue of China-backed investment facilitation. While India is opposing this, Okonjo-Iweala wants New Delhi to support the move. "We spoke about issues of reform, about issues that India is interested in, like agriculture and how India needs to be a leader for MC 14 (next year's ministerial meeting)... India needs to open the way for other developing countries, for example, on investment facilitation for development, we want it to support, because so many developing countries, 90 out of the 126, who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as possible," she said after a meeting with commerce & industry minister Piyush Goyal. India had virtually single-handedly blocked attempts to include investment facilitation as a plurilateral matter under the WTO framework. The comments came ahead of the mini-ministerial meeting of trade ministers later Tuesday. WTO chief said the issue of reform is expected to come up for discussion, at a time when multilateral trading system has been "disrupted in a way it hasn't been before". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Durable Perforated Stainless Steel Sheets Online – Trusted Suppliers Stainless Steel Sheets | Search ADS Search Now Undo "Sometimes I see challenges as opportunities, and I think this is a very good opportunity for WTO members to look at what are those things that work and should be kept and there are many. For example, three quarters of world goods trade is still taking place on WTO terms, on MFN terms and members want to safeguard that," she said. She said that each member will put their ideas on the table, paving the way for discussions at the next year's ministerial meeting. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
