'Asean 2045: Our Shared Future' is a living promise to region's people
The well-being of Asean citizens should be a priority in all the bloc's policies. This isn't merely an abstract concept.
Malaysia's focus on inclusivity and sustainability during its chairmanship of Asean exemplifies this vision.
It's about creating a future where everyone, regardless of background or location, is included. Behind trade agreements and regional strategies are real people whose lives depend on effective leadership.
The implementation of the Asean Integrated QR Code Payment System, for instance, is about empowering small businesses to engage in regional trade and ensuring they are part of the digital economy.
Malaysia's green transition plan, including initiatives like Energy Exchange Malaysia, demonstrates how leadership can prioritise long-term sustainability while generating new economic opportunities.
Asean faces external pressures, internal conflicts and rapid digital transformation. It must bridge the gap between institutions and the people they serve.
'Asean 2045: Our Shared Future' is a living promise to its people, a commitment to a future where peace, prosperity, and human dignity are everyday realities.
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
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The Star
2 hours ago
- The Star
Can E&E exports sustain momentum?
PETALING JAYA: Malaysia's exports continued to stay resilient in the month of July, the final full month before the 19% US reciprocal import tariffs came into effect. US reciprocal tariffs have now been in effect since Aug 8. Exports were led by the electrical and electronics (E&E) sector last month which registered 'significant growth' year-on-year (y-o-y), according to data released by the Investment, Trade and Industry Ministry (Miti). Trade data from the government showed exports of E&E products improved significantly, by nearly RM12bil to RM63.31bil, which is a 22.5% increase compared to July 2024. The E&E sector remained the key driver of Malaysia's export growth, alongside optical and scientific equipment and processed foods, Miti said in a statement, adding that the product categories had recorded the highest export values thus far. 'The US government's decision to cut reciprocal tariffs on Malaysian exports from 25% to 19% reflects Miti's methodical and disciplined trade diplomacy efforts. 'This tariff rate, which is roughly in line with the rest of our peers in Asean, will continue to support our competitiveness,' it said. In July, trade with the United States, which accounted for 11% of Malaysia's total trade, declined by 7.6% y-o-y to RM29.34bil. Miti data showed Malaysia's exports to the United States grew by 3.8% to RM18.47bil, contributed by higher exports of E&E products, manufactures of metal and rubber products while Malaysia's imports from the US decreased by 22.2% to RM10.88bil. On a month-on-month basis, US trade and exports increased by 7.4% and 13.5%, respectively while US imports contracted by 1.5%, it said. Commenting on these trade statistics, Socio-Economic Research Centre's executive director and economist Lee Heng Guie said the strong growth in E&E exports appears to point to continued front-loading of such goods by overseas importers before the US-tariffs deadline. 'Better-than-expected exports in June could reflect the 'front-loading' effect of E&E, which has expanded strongly by 22.5% while other major products have declined. 'Going forward, we expect to see continued volatile exports performance as US reciprocal tariffs kicks in in August, which will likely moderate the pace of exports growth and this is partly attributable to the high exports level in the second half of 2024,' Lee told StarBiz. Commenting further on the trade figures, CGS-International Securities head economist Ahmad Nazmi Idrus said the rebound and improvements in the trade balance shows a normalisation in the trade surplus for the country. 'Trade has rebounded on a y-o-y basis and we also saw improvements in the trade balance. 'In April and May, we saw a fairly weak trade surplus, now this has somewhat normalised because the capital imports went back to normal (we saw really high imports in the last two months which affected the trade surplus and the current account),' Ahmad Nazmi said. 'Assuming there is no more spike in capital imports, trade balance should stay range bound. 'Aside from this, the impact of tariffs on the country's exports is not yet seen since it is only effective in August, but we anticipate the 'front-loading' effect by the United States will ease,' he added. For the January to July 2025 period, trade, exports and imports achieved their highest cumulative value, Miti's data revealed. Trade rose 4.7% to RM1.731 trillion in the year-to-date y-o-y period, with exports expanding 4.3% to RM900.47bil; and imports rose by 5.1% to RM830.16bil which resulted in a trade surplus of RM70.32bil. Miti said other key contributors to export growth included machinery, equipment and parts as well as palm oil-based manufactured products. By destination, Miti noted exports to all key trading partners namely Asean, China, the United States, Taiwan and the European Union (EU) registered positive growth, with exports to Taiwan reaching its highest value to date. In July 2025, Malaysia's trade with major trading partners: Asean, China, the United States, Taiwan and the EU accounted for 70.9% share of total trade, Miti said. Exports to Free Trade Agreement partners also expanded, with notable increases in shipments to Mexico and South Korea, driven primarily by higher exports of E&E products, it said. Meanwhile, Lee also cautioned on the level of imports growth in recent months which may point to lower output moving forward. 'Overall imports growth has been worrying in recent months, especially for a sustained decline in imports of intermediate goods, which presage lower production ahead,' Lee said. According to the government's July trade data, Malaysia's total imports in July 2025 edged up by 0.6% y-o-y to RM125.47bil. The three main categories of imports by end use, which accounted for 68.1% of total imports were intermediate goods, which was valued at RM56.82bil or 45.3% of total imports – this segment declined by 17.8%, due to lower imports of parts and accessories of non-transport capital goods. Another segment of imports were capital goods at some RM18.19bil or 14.5% of total imports, which increased by 20.6%; and consumption goods that's valued at RM10.43bil or 8.3% of total imports which contracted by 5%, due to lower imports of non-durables, the data showed. Compared to June 2025, total imports rose 10.9% with imports of capital goods and consumption goods increasing by 26.2% and 10.9%, respectively, while imports of intermediate goods slipped by 5.8%, Miti said. In the period of January to July 2025, total imports grew by 5.1% to RM830.16bil compared to the same period last year. In this seven months period, imports of intermediate goods shrank 2.9% to RM418.84bil while capital goods surged by 36.4% to RM125.59bil and consumption goods edged up by 0.3% to RM68.49bil, it said. 'Despite global trade and US tariff headwinds, Malaysia's steady trade performance has contributed to the expansion of the country's gross domestic product by 4.4% in the second quarter of 2025. 'Miti and the Malaysia External Trade Development Corp will continue to be vigilant in navigating the shifting global trade dynamics and rising geopolitical tensions,' Miti said in its statement.
The Star
8 hours ago
- The Star
Malaysian defence attache leads Asean observer mission to Thai-Cambodian border
BANGKOK: Malaysia's Defence Attaché to Thailand, Brigadier General Samsul Rizal Musa, has led an interim observer team to inspect the Thailand-Cambodia border to monitor the implementation of the ceasefire and ensure the process remains transparent and impartial. The three-day inspection, hosted by the Royal Thai Armed Forces from Monday to Aug 20, covered the Ubon Ratchathani, Si Sa Ket and Surin provinces. It involved 14 representatives from eight Asean member states namely Malaysia, Brunei, Laos, Indonesia, Myanmar, the Philippines, Singapore and Vietnam. Samsul emphasised the team's commitment to maintaining transparency in ensuring both countries uphold the ceasefire agreement to restore peace and stability. He added that the observer team conducted on-site inspections in border areas that have recently been a flashpoint. "The observer team is tasked with observing the implementation of the ceasefire arrangement by both countries, and with gathering and compiling information, data, facts, and inputs to ensure a transparent and fair process without taking sides," he told Bernama when contacted on Tuesday. Meanwhile, the Thai Armed Forces said the field visit began at Sunphasitthiprasong Camp Hospital in Ubon Ratchathani Province, where the observers were briefed on recent incidents. During their visit, the Asean observers conducted on-site inspections at key locations along the border, it said in a statement. The Thai Armed Forces reaffirmed its commitment to resolving disputes through peaceful means, in line with Asean principles and international law, but stressed that it would defend Thailand's sovereignty and safety of its citizens in the event of violations. The interim observer team is part of the ceasefire agreement reached during the Extraordinary Thailand-Cambodia General Border Committee (GBC) meeting held on Aug 7 in Kuala Lumpur. The intervention of Malaysia, as Asean chair, together with the United States and China as observers, played a crucial role in bringing the tense situation under control. – Bernama
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New Straits Times
8 hours ago
- New Straits Times
News@9: Today's top headlines - August 19, 2025 [WATCH]
Here are today's top stories: End bullying now Johor Regent, Tunku Ismail Sultan Ibrahim, has called for an immediate end to bullying after visiting a 10-year-old victim in hospital. Former chief justice Tun Tengku Maimun Tuan Mat warns that politicians are the biggest threat to judicial independence, citing attempted interference at the end of her tenure. The government confirms there are no plans to reinstate the travel ban on PTPTN loan defaulters, though the proposal remains under review. Protect regional waters Defence Minister Datuk Seri Khaled Nordin urges Asean states to act collectively to safeguard maritime stability before it is compromised. That's all for News@9.
