Timor-Leste's bid to join ASEAN is progressing
KUALA LUMPUR: Timor-Leste's bid to join the Association of Southeast Asian Nations (ASEAN) is progressing, according to the Philippines' Undersecretary for Bilateral Relations and ASEAN Affairs Ma. Theresa P. Lazaro, though she cautioned that membership is still subject to further consideration.
'I can't speculate, but based on the discussions we've had, I think it's positive,' she said, noting that Malaysia, the current ASEAN chair, appears eager to expedite the accession process of Timor-Leste.
'I think also the intention of ASEAN, particularly the chair Malaysia is that it (Timor-Leste) becomes a member the soonest time. Probably it's one of the deliverables for your (their) 'chairship' this year,' she told reporters after the ASEAN Senior Officials' Meeting (SOM) here today.
However, despite the momentum, Lazaro stated that several issues remain unresolved.
'It's highly speculative. There's still a number of issues and discussions, but I think it's moving,' she said.
Timor-Leste, which applied for ASEAN membership in 2011, was granted observer status at high-level meetings in 2022 but is still undergoing evaluation for full integration.
According to previous media reports, Singapore had reservations about accepting Timor-Leste into the ASEAN fold due to its modest economic size, fearing it might hinder the realisation of the Asean Economic Community.
On the future of the ASEAN-China-GCC Summit, which will be held in this year's ASEAN Summit, Lazaro said discussions are ongoing about whether the tradition will continue.
'It's something that is still up for discussion. We'll see how the summit goes,' she said.
The SOM is a key preparatory phase ahead of the 46th ASEAN Summit, scheduled to take place from May 26 to 27.
The summit will gather leaders from the bloc's member states to discuss regional issues, foster economic cooperation and advance the principles of inclusivity and sustainability.
Kuala Lumpur will also concurrently host the second ASEAN-GCC Summit and the inaugural ASEAN-GCC-China Summit.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
41 minutes ago
- The Sun
Potential of single Asean currency
AS global economic uncertainties continue to mount, Southeast Asia stands at a strategic crossroads. The recent surge in trade tensions, particularly those stemming from the US's tariff policies and restrictive trade measures, has reignited discussions across Asean nations about the need for greater financial and monetary integration. One idea, long debated but never realised, has resurfaced with renewed urgency – the adoption of a single Asean currency. The US has increasingly adopted protectionist trade practices, disrupted global supply chains and raised the cost of doing business. The ongoing US–China tariff war, for example, continues to unsettle Asean exporters, particularly in electronics, palm oil and rubber. According to the World Bank, the Southeast Asian region could lose an estimated US$13 billion (RM55 billion) annually due to ripple effects from trade fragmentation and tariff hikes. Currency volatility adds another layer of unpredictability. The Thai baht, Malaysian ringgit and Indonesian rupiah have all experienced significant depreciation against the US dollar over the past year, making imports more expensive and external debt burdens heavier. A single regional currency could act as a buffer, shielding Asean economies from external shocks and speculative currency attacks. The European Union's adoption of the euro has created one of the largest and most stable currency unions in the world, bringing 19 countries under a unified monetary policy. While challenges remain – as seen during the Greek debt crisis – the benefits of the euro in promoting price stability, enhancing trade and reducing transaction costs are undeniable. Eurozone trade within member states rose by over 50% in the first decade of the euro's introduction, according to data from the European Central Bank. Asean already has some groundwork laid. The Chiang Mai Initiative Multi-lateralisation, Asean+3 Macroeconomic Research Office and the Asean Economic Community indicate that economic collaboration is not only feasible but already partially in motion. Intra-Asean trade now accounts for more than 22% of total Asean trade, worth over US$800 billion annually, according to the Asean Statistical Brief. Countries such as Malaysia, Singapore, Vietnam and Thailand are increasingly interlinked in production and consumption. Harmonising currency would eliminate foreign exchange costs, encourage regional investment and boost economic resilience. Moreover, the growing influence of China's yuan and the possible future expansion of BRICS' financial infrastructure present a challenge to Asean central banks, which are still highly reliant on the US dollar. A single Asean currency could strengthen the bloc's bargaining power in global negotiations and reduce overdependence on Western financial systems. Critics rightly point out the challenges, such as differences in inflation rates, fiscal discipline, political structures and financial market maturity. Asean is more diverse economically than the Eurozone, ranging from high-income Singapore to emerging economies like Laos and Myanmar. However, unity does not require uniformity. A staged implementation – beginning with a currency basket peg or a digital Asean currency for intra-bloc trade – could serve as a realistic first step. Digital tools such as QR-code payments and central bank digital currencies, already in use in Thailand, Singapore and Malaysia, can fast-track integration. The post-Covid-19 world is reshaping global economic priorities. With ongoing trade disruptions and geopolitical instability, Asean must ask itself whether continuing with fragmented currencies serves its future. Now is the time for the region to boldly envision a future anchored in monetary unity. A single Asean currency is not just a dream – it could be the key to securing long-term stability, growth and independence in an increasingly uncertain world. Dr Uma Murthy and Dr Paul Anthony Maria Das are lecturers at the School of Accounting and Finance, Taylor's Business School, Faculty of Business and Law, Taylor's University. Comments: letters@
The Star
an hour ago
- The Star
National Youth Day celebration to showcase elements of Asean
KUALA LUMPUR: The National Youth Day (HBN) celebration on June 13-15 will be unique as it will showcase elements of Asean, in line with Malaysia's Chairmanship of Asean 2025. The HBN secretariat said the programme for the celebration at Dataran Merdeka includes the Asean Pavillion and Asean Concert to create the spirit of the Asean community and strengthen the culture of Asean countries among the youth. "The role of youth is seen as vital to strengthening Asean's regional network, particularly future collaborations in the fields of economy, leadership, education, technological innovation and social. In fact, youth can also act as junior ambassadors who can elevate the country's image globally,' it said in a statement. Themed "Yakin Boleh' (Believe You Can), the highlight of the 61st HBN celebration will be attended by Prime Minister Datuk Seri Anwar Ibrahim, who will officiate the event and present the 2025 National Premier Youth Award (APBN) on June 14. "The theme illustrates the confidence, capability and competitiveness of the youth in facing challenges, including that of the current digital era. This theme also aligns with the Madani government's efforts to empower youths through various strategic initiatives as well as the values of confidence within the Madani framework,' it added. With the targeted presence of 4 million visitors, the Youth and Sports Ministry, through the National Youth and Sports Department (JBSN), has activated the HBN celebration at the grassroots level by implementing the Semarak HBN initiative in 113 districts nationwide since May 15. At the national level, the Semarak HBN initiative has been further enlivened by the inclusion of the National Youth Convention; eSports games and activities; career and technical and vocational education and training (TVET) carnivals; as well as programmes on fitness, leadership, arts, music and culture and awareness of mental health and cyberbullying. Other programmes include the Suara Belia (Voice of the Youth) podcast; the recitation of the Malaysian Youth Pledge at various levels; the 2025 HBN Special Islamic Affairs Premier Forum; and the implementation of Special Friday sermons nationwide through the collaboration of the Islamic Development Department of Malaysia (Jakim) and State Islamic Religious departments. "Conceptualised as a festival and based on 15 segments/ports, it is an initiative with a 'youth for youth' approach that is designed to meet the needs and wants of today's youth. This structured programme is also based on the 10 elements of the Rakan Muda lifestyle,' the HBN secretariat added.- Bernama
New Straits Times
an hour ago
- New Straits Times
National Youth Day celebration to showcase elements of Asean
KUALA LUMPUR: The National Youth Day (HBN) celebration on June 13-15 will be unique as it will showcase elements of Asean, in line with Malaysia's Chairmanship of Asean 2025. The HBN Secretariat said the programme for the celebration at Dataran Merdeka includes the Asean Pavillion and Asean Concert to create the spirit of the Asean community and strengthen the culture of Asean countries among the youth. "The role of youth is seen as vital to strengthening Asean's regional network, particularly future collaborations in the fields of economy, leadership, education, technological innovation and social. "In fact, youth can also act as junior ambassadors who can elevate the country's image globally," it said in a statement. Themed "Yakin Boleh" (Believe You Can), the highlight of the 61st HBN celebration will be attended by Prime Minister Datuk Seri Anwar Ibrahim, who will officiate the event and present the 2025 National Premier Youth Award (APBN) on June 14. "The theme illustrates the confidence, capability and competitiveness of the youth in facing challenges, including that of the current digital era. "This theme also aligns with the Madani government's efforts to empower youths through various strategic initiatives as well as the values of confidence within the Madani framework," it added. With the targeted presence of 4 million visitors, the Youth and Sports Ministry, through the National Youth and Sports Department, has activated the HBN celebration at the grassroots level by implementing the Semarak HBN initiative in 113 districts nationwide since May 15. At the national level, the Semarak HBN initiative has been further enlivened by the inclusion of the National Youth Convention; eSports games and activities; career and technical and vocational education and training (TVET) carnivals; as well as programmes on fitness, leadership, arts, music and culture and awareness of mental health and cyberbullying. Other programmes include the Suara Belia (Voice of the Youth) podcast; the recitation of the Malaysian Youth Pledge at various levels; the 2025 HBN Special Islamic Affairs Premier Forum; and the implementation of Special Friday sermons nationwide through the collaboration of the Islamic Development Department of Malaysia (Jakim) and state Islamic religious departments. "Conceptualised as a festival and based on 15 segments/ports, it is an initiative with a 'youth for youth' approach that is designed to meet the needs and wants of today's youth. "This structured programme is also based on the 10 elements of the Rakan Muda lifestyle," the HBN Secretariat added. – Bernama
