Malaysia Expected To Lead Intra-ASEAN Trade Push As Chair
By R.Vikneswaran
KUALA LUMPUR, May 23 (Bernama) -- Greater intra-ASEAN trade is essential to strengthening regional supply chains and economic resilience amid rising global uncertainty, an academic said ahead of Malaysia's 2025 ASEAN Chairmanship.
Universiti Pendidikan Sultan Idris senior lecturer Dr Norazlan Hadi Yaacob said deeper intra-ASEAN trade ties could help shield the region from external shocks caused by geopolitical competition and conflicts.
'Although ASEAN is projected to become the world's fourth-largest economy by 2030, intra-ASEAN trade remains low at 22.9 per cent, far behind the European Union (EU), where internal trade exceeds 50 per cent,' he said in a special broadcast aired on Bernama TV ahead of the 46th ASEAN Summit.
ASEAN, home to nearly 700 million people -- about nine per cent of the global population -- is currently the world's fifth-largest economy, with a combined gross domestic product (GDP) of US$4.1 trillion in 2024.
Norazlan said over-reliance on external supply sources had left ASEAN economies vulnerable to disruptions and price shocks, particularly during conflicts such as the Russia-Ukraine war. He stressed that boosting trade within the region would enhance supply security.
'For instance, Thailand is a major paddy producer, while Malaysia and Indonesia lead in palm oil production. Strengthening such trade within ASEAN would help stabilise regional supply,' he said.
He expressed confidence that Malaysia's 2025 ASEAN Chairmanship could act as a catalyst for greater regional unity and cooperation.
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