ASEAN Senior Economic Officials Discuss AEC Blueprint 2025 Outcome, Look At Plan For Next 5 Years
KUALA LUMPUR, May 24 (Bernama) -- Progress and outcome of initiatives in the ASEAN Economic Community (AEC) Blueprint 2025 were among the main discussion points during the Preparatory Senior Economic Officials (Prep-SEOM) Meeting for the 25th ASEAN Economic Community Council (AECC).
Apart from discussing the current state of Timor-Leste's accession to ASEAN today, the senior economic officials also deliberated on the AEC Strategic Plan 2026-2030 under the ASEAN Community Vision 2045, which is set to be launched and adopted by the ASEAN leaders on Monday.
The meeting also discussed regional economic performance and the effects of recent shifts in global economic policies by major economies, as well as strategies to address the impact of these shifts on ASEAN.
Additionally, discussions focused on opportunities to leverage growth ahead of the 25th AECC Meeting, scheduled to be held tomorrow.
The AECC Meeting is anticipated to endorse several report and outcome documents for adoption at the 46th ASEAN Summit. It will also provide guidance and details on the current situation faced by the Economic Pillar.
Today's meeting discussed the current regional economic performance and the implications of recent shifts in global economic policies by major economies. Deliberations focused on ASEAN's strategic responses to mitigate the impact of these shifts while identifying opportunities to leverage economic growth.
Chaired by Malaysia's Investment, Trade and Industry Ministry Deputy Secretary-General (Trade) Mastura Ahmad Mustafa, the meeting was attended by ASEAN Deputy Secretary-General for the ASEAN Economic Community Satvinder Singh and Brunei's Finance and economy Ministry Permanent Secretary (Economy, Trade and Industry) Dr May Fa'ezah Ahmad Ariffin.
Other representatives who attended the meeting physically included Long Kemvichet (Cambodia), Nugraheni Prasetya Hastuti (Indonesia), Seng Alune Vilaysack (Laos), Marie Sherylyn D. Aquia (Philippines) Alpana Roy (Singapore), Chotima Lemsawasdikul (Thailand), Nguyen Viet Chi (Vietnam) and Augusto Junior Trindade (Timor-Leste).
The representative from Myanmar, Dr Marlar Myo Nyunt, attended the session virtually.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Malaysia Sun
5 hours ago
- Malaysia Sun
Column: ASEAN and China working together for a prosperous 2045
by Yuan Zhi The recently unveiled ASEAN Community Vision 2045, launched at the 46th ASEAN Summit under the theme "Our Shared Future," embodies the Eastern ideal of collective prosperity. This vision, rooted in the Asian traditions of harmony and mutual progress, resonates with Chinese President Xi Jinping's call for building a community with a shared future for mankind. A PARTNERSHIP OF MUTUAL BENEFIT While some in other parts of world are turning inward, China and ASEAN have been embracing partnership for mutual benefit. For 16 consecutive years, China has been ASEAN's largest trading partner, and ASEAN has held the same position for China over the past five years. President Xi's recent visits to Vietnam, Malaysia and Cambodia have reinforced the time-honored bonds between the Asian nations and underscored China's commitment to strengthening ties with its neighbors for a community with a shared future. THE URGENCY OF ECONOMIC RESILIENCE The global trade landscape is shifting. Average U.S. tariffs on Southeast Asian goods now exceed 30 percent, and supply-chain disruptions have exposed the risks of overreliance on distant and volatile markets. ASEAN's economic future hinges on diversification and regional integration -- areas where China offers unparalleled advantages. As the world's second-largest economy and the top trading nation, China has been a stabilizing force for ASEAN through crises like the 1997-98 Asian financial turmoil and the 2008 global recession. Today, initiatives like the Belt and Road Initiative and the Global Development Initiative provide ASEAN with infrastructure, technology and trade frameworks to boost self-reliance. THE PATH TO 2045: INNOVATION AND INTEGRATION ASEAN's manufacturing capacity stands to gain from deeper economic integration with China. Its economic resilience will benefit from more trade with China. And ASEAN's ambitions for digital and green transitions align perfectly with China's strengths in AI, renewable energy and e-commerce. Despite U.S. restrictions, China's innovative industry continues to develop at a miraculous speed, as evidenced by breakthroughs such as Deepseek. According to the 2024 Global Innovation Index, the past ten years have witnessed China as one of the economies experiencing the most rapid growth in innovation power. In May, China and 10 ASEAN countries have fully completed negotiations on the Version 3.0 China-ASEAN Free Trade Area. By modernizing trade rules and expanding cooperation in emerging sectors, China and ASEAN are creating a more dynamic economic future -- one that is more resilient against external shocks. THE "ASIAN MOMENT" IN GLOBALIZATION As Chinese Foreign Minister Wang Yi said, globalization is experiencing an "Asian moment" and the world's focus is shifting towards Asia. The inaugural ASEAN-China-GCC (Gulf Cooperation Council) Summit alongside the 46th ASEAN Summit signals the region's rise as a hub of 21st-century multilateralism. ASEAN and China working side by side will create greater resilience, innovation and shared prosperity -- essential ingredients for realizing Community Vision 2045. Editor's note: The author is a commentator on international affairs based in Kuala Lumpur. The views expressed in this article are those of the author and do not necessarily reflect the positions of Xinhua News Agency.


The Star
5 hours ago
- The Star
Vertical schools in housing projects to help reduce transport costs, says PM Anwar
KUALA LUMPUR: The integration of a vertical school concept within the Rumah Bakat Madani housing project in Penang is expected to enhance student safety and ease the transportation cost burden on families, says Datuk Seri Anwar Ibrahim. The Prime Minister said that incorporating educational elements into residential development is part of the Madani government's initiative to build compassionate neighbourhoods and foster community development based on Madani values. Anwar said this approach underscores the government's commitment to promoting holistic well-being for the people, rather than focusing solely on physical structures and architectural design. "The planned vertical school element, integrated with the housing project, aims to ensure student safety, and I believe it can also help families save on transportation costs,' he said in a Facebook post on Wednesday (June 11). He also stressed that the Madani government placed strong emphasis on expediting project approvals through collaboration across ministries, agencies and with the involvement of state governments. Anwar said the project was an initiative involving private developer SkyWorld, aimed at enabling low- and middle-income groups to own affordable homes. "I was informed that the development will also include essential infrastructure and comprehensive facilities such as schools and childcare centres, surau, commercial spaces, as well as landscaped areas and parks,' he said. Earlier, the Prime Minister attended a presentation session on the project concept with the developer's representatives in Putrajaya.- Bernama


Borneo Post
6 hours ago
- Borneo Post
Revised Sales Tax won't affect essentials, aims to shield rakyat from inflation, says Mat Sabu
Mohamad Sabu says the implementation of revised ST, effective July 1, only involves selected and premium goods, at a rate of 5 per cent or 10 per cent. – Bernama photo KUALA LUMPUR (June 11): The government will continue to ensure essential goods like rice, cooking oil, vegetables, chicken and fish remain tax-free to safeguard the people's food security. Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu said the implementation of revised Sales Tax (ST), effective July 1, only involves selected and premium goods, at a rate of 5 per cent or 10 per cent. According to him, the items in this category include truffle mushrooms, racing bicycles and king crab. 'This is a balanced approach where most people won't be affected, while those who are better off can contribute fairly to the country's development. 'Insya-Allah, the MADANI Government will continue to ensure policies that are formulated are centred on the principles of social justice and well-being of the people,' he posted on Facebook. Based on the Ministry of Finance's explanation, the zero per cent sales tax is maintained for daily essential goods, like chicken, beef, lamb, fish, shrimp, squid, vegetables, local fruits, rice, barley, oats, wheat, flour, canned sardines, sugar and salt. Also included are white bread, pasta, vermicelli, noodles, instant noodles, milk, cooking oil, medicine, medical devices, books, journals, newspapers and pet food. Zero per cent sales tax is also retained for basic construction materials like cement, bricks and sand as well as agricultural sector inputs such as fertilisers, pesticides, and agricultural and livestock machinery. The ministry added that the Madani Government had taken measures to ensure the ST is not imposed on daily essential goods to avoid directly affecting the cost of living for the majority of Malaysians and to maintain a controlled inflation rate. – Bernama basic goods Inflation lead Mohamad Sabu sales tax