Fadillah: Intra-ASEAN trade key to boosting palm oil demand amid global challenges
KUALA LUMPUR: Robust intra-ASEAN economic activity vital to stimulate demand for palm oil products amid stricter private regulations, tariff uncertainties and other global economic challenges, said Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof.
He said that by focusing on intra-ASEAN cooperation and trade, more economic activities across member states both downstream and upstream sector can be stimulated, particularly in ensuring a resilient and self-sustaining growth engine.
'Malaysia and Indonesia are the biggest states in the palm oil production... with all the restrictions from the world, including introduction of the European Union Deforestation Regulation (EUDR), there is a restriction for us to export our products to the overseas markets.
'If we can focus on ASEAN, then we create more activities between the ASEAN member states, so that it will be enough to sustain our economic activities and benefit entire ASEAN population,' he said at the Luncheon Power Talk Shared Prosperity: The New Imperative for ASEAN's Economic Growth at the ASEAN Women Economic Summit 2025 (AWES 2025) held at a hotel (Shangri-La) here today.
Fadillah also called for a more harmonising standards among ASEAN member countries through minimising the non-tariff barriers, strengthen the supply chains and open up to all the member states the benefit of the quality growth.
'Strengthening ASEAN is not just strategic, it is necessary to safeguard our shared prosperity and deliver tangible benefits to the entire ASEAN population,' he said, adding that regional trade, investment, and connectivity must be enhanced to build a more resilient and competitive single market.
Citing an example of active cross-border trade, Fadillah said active cross-trade activities can be seen among Thailand, Malaysia, and Indonesia.
'Such efforts should be facilitated to ensure greater cross-border trade is created for the benefit of ASEAN citizens,' he added.
The two-day inaugural AWES 2025, which began Saturday, was held on the sidelines of the 46th ASEAN Summit, held under Malaysia's 2025 Chairmanship. It was attended by over 700 delegates representing government, business, and civil society across ASEAN.
Themed 'Empowering Women, Energising ASEAN: Pioneering Economic Integration for a Resilient Tomorrow', AWES highlighted the urgent need to position women at the forefront of ASEAN's economic transformation, particularly in addressing current challenges such as global tariff wars, digital transformation, and sustainable development.
It also featured discussions and strategic brainstorming sessions, leadership lab and mentorship programme.
UOB Malaysia is the main sponsor of AWES 2025, with Kuok Brothers Sdn Bhd as the empowerment partner.
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