Malaysia boosts intra-ASEAN trade to reduce global dependence
He said that amid growing global uncertainty, emphasis is now being placed on reinforcing regional economic ties to reduce dependence on traditional external trading partners.
'We can't rely too heavily on our traditional trading partners. Within ASEAN itself, trade among member states is very low, not even reaching 25 per cent.
'Therefore, we've introduced a framework to ensure that trade among ASEAN countries is enhanced,' he said during Minister's Question Time in the Dewan Rakyat today.
He was responding to a supplementary question from Manndzri Nasib (BN-Tenggara) on the key initiatives implemented and planned to ensure the continuity of ASEAN's agenda after Malaysia's chairmanship.
Mohamad said key initiatives being pursued include the implementation of ASEAN Vision 2045, a 20-year plan themed 'Our Shared Future', aimed at raising ASEAN's economic standing to be on par with its existing political influence.
'We need to enhance economic activities among ourselves ... even if we increase (intra-ASEAN trade) to 30 or 40 per cent, that would be a significant achievement to reduce the dependence of ASEAN countries, especially Malaysia,' he said.
To that end, Mohamad said Malaysia is also diversifying its markets through participation in the BRICS bloc, which represents over 40 per cent of the world's population and 25 per cent of global GDP, while also promoting a strategic trilateral partnership between ASEAN, the Gulf Cooperation Council (GCC) and China.
'If we can integrate these three major blocs effectively, we have a very promising future. The Gulf countries have strong purchasing power and abundant resources; ASEAN has a large workforce and rich natural resources; and China has a vast market.
'If we can strengthen this trilateral relationship, the economic benefits will be immense for ASEAN countries, particularly Malaysia. Insya-Allah,' he said.
Responding to Manndzri's original question on Malaysia's satisfaction with its foreign policy achievements during its ASEAN chairmanship, particularly in strengthening unity, Mohamad said the Myanmar issue remains a key challenge for ASEAN in maintaining regional stability and peace.
He described Myanmar's internal conflict as a 'thorn in the flesh' that undermines ASEAN's credibility in championing peace and human rights, especially since the crisis is unfolding within a member state.
However, he said Malaysia, as ASEAN Chair, has made various efforts to identify viable peaceful approaches that can be collectively adopted.
Mohamad also stressed that ASEAN's current priority is the implementation of the Five-Point Consensus agreed upon by all member states, not recognising the unilateral elections planned by the Myanmar junta. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
3 minutes ago
- New Straits Times
Asean Tech Summit 2025 eyes over RM200mil in innovation deals
KUALA LUMPUR: The Asean Technology Cooperation and Development Summit 2025 aims to secure over RM200 million in innovation and investment deals during its two-day run on November 25–26 at the Malaysia International Trade and Exhibition Centre (Mitec). Intrinsic SEA's chief executive officer, Ravenna Chen, said over 100 companies, more than 50 global investors and 2,000 innovators and ecosystem leaders from Asean, China, Canada, Europe and other regions are expected to attend the summit. "We plan to host over 50 top investors from across the globe, featuring five startup pitches and five scale-up pitches. In addition, four major corporate innovation platforms will be launched by companies that are well-prepared and actively seeking innovative solutions. "Internally, our management fund is worth 200 million Canadian dollars. We aim to leverage our networks in Canada, Japan and China to invest in South Asia as well," she told reporters at today's soft launch and media preview of the Asean Technology Cooperation and Development Summit 2025. The soft launch was graced by the Deputy Science, Technology and Innovation (Mosti) Minister Datuk Mohammad Yusof Apdal. The summit, organised by Intrinsic SEA, is a flagship forum held alongside WE2025: Future in Motion, a three-day programme from Nov 25–27, 2025, organised by Qube Integrated Malaysia Sdn Bhd. "WE" stands for Women's Economics, Empowerment, Women Entrepreneurship, Women Excellence and Women Evolution. The summit will focus on five strategic pillars, namely: future mobility and smart transportation, future healthcare and digital medicine, future consumer and digital commerce, future building and safety emergency response, and future employment and entrepreneurship. Key highlights include ministerial and industry roundtables on strategic innovation, a next-gen technology exhibition with over 100 frontier solutions, and Asean future cities and investment opportunity spotlights. With over 50,000 expected livestream viewers, the summit will further position Malaysia as a key enabler of Asean-wide collaboration in science, technology and innovation. In his keynote speech, Mohammad Yusof said the summit reflects Malaysia's ambition to lead regional innovation, strategic partnerships, emerging technologies and inclusive growth. "At Mosti, our mission is anchored in a clear vision to transform Malaysia from a technology user into a global technology developer with global market capabilities by 2030," he said. Meanwhile, Qube Integrated Malaysia executive chairman Richard Teo said WE2025 champions inclusive economic growth by empowering women in trade, investment and leadership. "While this summit welcomes all participants, it upholds that spirit by ensuring women have meaningful opportunities to lead in tech innovation – a sector where inclusive participation is urgently needed," he added.
New Straits Times
3 minutes ago
- New Straits Times
'Business-to-business deals for Multi-Lane Fast Flow system, no cost for govt'
KUALA LUMPUR: There will be no financial implications for the government in implementing the Multi-Lane Fast Flow (MLFF) system, the Dewan Rakyat heard today. Deputy Works Minister Datuk Seri Ahmad Maslan said the cabinet made this decision after the termination of an appointment between the government and the proposed company last December. He said the ministry was committed to implementing the MLFF toll collection system to prioritise the comfort and convenience of highway users. "On July 25, the ministry presented a cabinet paper on a new direction for the implementation of MLFF. "One of the key points is that service providers can now engage directly with 33 toll concessionaires on a business-to-business basis to facilitate implementation. "The second point is that the system will be implemented without any financial implications for the government. "The government has decided that this matter will be resolved on a business-to-business basis and there will not be a single cent of financial implication for the government. "As such, the issue of how many billions it will cost does not arise as the government will not bear any equipment or infrastructure costs when the MLFF system is implemented at 33 toll plazas," he said during the question-and-answer session at the Dewan Rakyat today. He was responding to a question by Shaharizukirnain Abd Kadir (PN-Setiu) on the status of the MLFF system and planned improvements for it. In February, the Public Accounts Committee (PAC) recommended that the ministry and the Malaysian Highway Authority conduct a more detailed cost-benefit analysis for the MLFF project. PAC chairman Datuk Mas Ermieyati Samsudin had said the committee concluded that implementing the MLFF system would not fully resolve traffic congestion on toll highways. In response, the ministry said the MLFF system, to be implemented by PLUS Malaysia Bhd, would be an independent initiative by the highway concessionaire. Previously, implementing the MLFF system was estimated to cost RM3.46 billion. Commenting further, Ahmad said the government had set a two-year timeframe for the implementation of the MLFF system. "All 33 toll concessionaires are free to engage with any company they want to work with." On the issue of tailgating, he said additional enforcement mechanisms might be introduced to address this. He said the ministry was mulling restricting road tax renewals for motorists who evade toll payments once the MLFF system was implemented. "With MLFF, user discipline will be essential. We will use RFID technology and Automatic Number Plate Recognition.
New Straits Times
3 minutes ago
- New Straits Times
Ruckus in Dewan Rakyat over use of Terengganu dialect term 'mambar'
KUALA LUMPUR: A heated exchange erupted in the Dewan Rakyat today over the use of the Terengganu dialect word 'mambar' by an opposition lawmaker to describe six Bersatu members of parliament (MPs) who had pledged support for the government. The incident began after Datuk Rosol Wahid (PN–Hulu Terengganu) asked Speaker Tan Sri Johari Abdul to clarify the status of the six MPs, and whether they should be considered part of the government or the opposition. Rosol described the position of the six MPs as 'mambar,' a term he said refers to something not solid or "in between". RSN Rayer (PH–Jelutong) then raised a point of order, calling the term inappropriate and disrespectful. Rosol responded by saying, "Even that is sensitive to you." Chong Zhemin (PH–Kampar) also raised an objection, calling on Rosol to retract his statement. "Everyone understands it is a subtle insult. It is unparliamentary," Chong said. Johari, unfamiliar with the term, said he could not make a definitive ruling. "I do not even know what it means, so I cannot consider it unparliamentary," he said, before asking Rosol to avoid using the word again to prevent confusion. The matter escalated further when Datuk Seri Takiyuddin Hassan (PN–Kota Baru) interjected, suggesting the term may have different meanings depending on the region. The debate then devolved into a shouting match between Rayer, Takiyuddin, and Radzi Jidin (PN–Putrajaya), which included a reference to an alleged insult to Islam by Takiyuddin. Johari ruled that while the term might be harmless in some regions, its meaning is not universally understood. "Everyone, please be seated. The term may have different meanings depending on the state. In Kedah, for instance, it can mean beautiful, great, or excellent," he said, concluding that the term should be avoided to prevent confusion.
