Malaysia Focuses On Strengthening Intra-ASEAN Trade

Barnama

24-07-2025

GENERAL
KUALA LUMPUR, July 24 (Bernama) -- Malaysia is focusing on strengthening the ASEAN economic framework by boosting intra-ASEAN trade to ensure the continuity of the region's agenda, said Foreign Minister Datuk Seri Mohamad Hasan.
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.