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Asahi Shimbun
28-05-2025
- Business
- Asahi Shimbun
ASEAN opens summit with Persian Gulf nations and China as U.S. threatens tariffs
Thailand's Prime Minister Paetongtarn Shinawatra, Emir of Qatar Sheikh Tamim bin Hamad Al Thani, Vietnam's Prime Minister Pham Minh Chinh, Kuwait's Crown Prince Sheikh Sabah Khalid Al Sabah, Malaysia's Prime Minister Anwar Ibrahim, Philippines' President Ferdinand Marcos Jr., Ruler of the UAE's Emirate of Ras al-Khaimah Sheikh Saud bin Saqr al Qasimi, Burunei's Sultan Hassanal Bolkiah, Bahrain's Crown Prince Salman bin Hamad al-Khalifa, chain their hands as they pose for a group photo at the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit after the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, on May 27. (AP Photo) KUALA LUMPUR--A regional association of Southeast Asian nations held a summit Tuesday with China and six Persian Gulf countries in efforts to expand economic engagement and bolster resilience amid global trade volatility due to U.S. tariff hikes. Malaysian Prime Minister Anwar Ibrahim, in his opening remarks, said the inaugural summit in Malaysia's capital Kuala Lumpur would open up a new chapter of cooperation. The 10-member Association of Southeast Asian Nations, the Gulf Cooperation Council and China have a combined GDP of nearly $25 trillion and a market of over 2 billion people, offering vast opportunities to promote cross-regional investment, he said. 'I am confident that ASEAN, the GCC, and China can draw upon our unique attributes and shape a future that is more connected, more resilient, and more prosperous,' he told the summit, attended by Chinese Premier Li Qiang. Li said the three-way cooperation would benefit all sides, contributing to economic development and peace in the region. China is ASEAN's top trading partner, and has sought to present itself as a reliable ally to the region amid its rivalry with the U.S. The GCC supplies over a third of China's crude oil imports. 'China will join ASEAN and the GCC in forging synergies that multiply,' he said. Malaysia is the current chair of ASEAN, which also includes Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Earlier Tuesday, Anwar told a separate ASEAN-GCC forum that partnership between the two blocs would be key to navigating an increasingly complex global economy. He later said the two sides planned to launch talks to establish a free trade area. Kuwait's Crown Prince Sheikh Sabah Khalid Al Sabah said the two blocs, which held their first summit in Riyadh in 2023, would build on their momentum to deepen cooperation and 'improve our ability to face crisis.' He said the GCC is ASEAN's seventh-largest trade partner, with total trade reaching $130.7 billion in 2023. The GCC comprises the oil-producing nations of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Anwar said last week the GCC already has strong links with the U.S. and 'wants to be close to China too.' ASEAN has maintained a policy of neutrality, engaging both Beijing and the United States, but U.S. President Donald Trump's threats of sweeping tariffs came as a blow. Six of the bloc's members were among the worst hit, with tariffs between 32% and 49%. Trump announced a 90-day pause on tariffs in April for most of the world, and this month struck a similar deal with key rival China, easing trade war tensions. ASEAN is seeking a summit with Trump on the tariffs, while moving to expand trade ties with China and others. Brunei's Sultan Hassanal Bolkiah, one of the world's wealthiest men and longest-reigning current monarch, was missing from the three-party summit after he was hospitalized for fatigue. He attended ASEAN summits on Monday and the ASEAN-GCC meeting earlier Tuesday. 'He is feeling a little tired, so he's just resting' at the National Heart Institute, Anwar told reporters. The sultan's office also issued a statement saying the monarch will rest at the heart institute for 'several days' following advice from Malaysian medical experts. It said he was 'in good health' but didn't elaborate. Anwar told a news conference at the end of the summit that ASEAN wasn't pivoting towards China but that it works with both Beijing and Washington because it makes economic sense. 'I don't think (ASEAN) is tilting in any way,' he said. Collins Chong Yew Keat, a foreign affairs, strategy and security analyst with Universiti Malaya, said the ASEAN-GCC-China summit underscored Beijing's efforts to strengthen support during its trade battle with the U.S. He noted it came on the heels of Trump's recent charm offensive in Saudi Arabia, Qatar and the United Arab Emirates. While relying on U.S. defense support, ASEAN is increasing reliance and partnership with China and other U.S. rivals, Chong said. The bloc has failed to take strong action against Beijing's aggression in the disputed South China Sea, he said. ASEAN members Vietnam, the Philippines, Malaysia and Brunei have overlapping claims with China, which asserts sovereignty over almost the entire South China Sea. 'If this continues under the current Trump administration, it will create further room for Washington to distance itself from the region, which will spell disaster and create an even deeper Chinese presence,' he said. This story has been corrected to show that combined ASEAN-GCC-China GDP is nearly $25 trillion, not $25 billion.
Straits Times
27-05-2025
- Business
- Straits Times
China's premier tells ASEAN, Gulf nations to remove trade barriers
China's Premier Li Qiang, delivers his speech at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, Tuesday, May 27, 2025. Vincent Thian/Pool via REUTERS BEIJING - Chinese Premier Li Qiang on Tuesday urged Southeast Asian and Gulf countries to remove trade barriers and expand opening up amid rising protectionism, and said Beijing is confident it can stabilise its economy in the face of challenges. Li was speaking at a dinner event during a leaders' summit in Kuala Lumpur with countries of the Association of Southeast Asian Nations and the Gulf Cooperation Council. "Facing rising protectionism and unilateralism in some places of the world, we must be committed to expanding opening up and removing barriers," Li said, without naming any countries. "Economic globalisation is currently experiencing an unprecedented major impact," Li said, urging the countries to uphold a multilateral trading system with the World Trade Organization at its core. U.S. President Donald Trump's trade war is upending the global economy, with his administration and the Chinese government engaging in tit-for-tat tariff hikes before walking back most of the increases following negotiations. Trade tensions with the U.S. have fuelled concerns for China's economy, which has been reliant on an export-driven recovery amid sluggish demand and deflationary pressures at home. Li said China's economy has continued to recover and improve since the beginning of the year, and that Chinese exports have remained "resilient despite external pressure". China's fiscal expenditure will reach a record high this year and the government is directing more policy resources towards consumption to unleash demand potential, he added. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
27-05-2025
- Business
- The Star
Asean urges nationwide expansion of Myanmar ceasefire; leaders also agree tariff deals with US should not harm members
Myanmar's Permanent Secretary of the Ministry of Foreign Affairs Aung Kyaw Moe attends the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit after the 46th Association of Southeast Asian Nations (Asean) Summit in Kuala Lumpur on Tuesday, May 27, 2025. -- Photo by Jam STA ROSA / AFP KUALA LUMPUR (Reuters): South-East Asian leaders reached an understanding on Tuesday that any bilateral agreements they might strike with the United States on trade tariffs would not harm each others' economies, Malaysia's premier Daruk Seri Anwar Ibrahim said. Anwar, the current chair of the Association of South-East Asian Nations, said there was consensus during a leaders' summit in Kuala Lumpur that any deals negotiated with Washington would ensure the interests of the region as a whole were protected. The Asean meeting came at a time of global market volatility and slowing economic growth, and amid uncertainty over a trade war that has ensued since U.S. President Donald Trump's announcement of sweeping "Liberation Day" tariffs. Southeast Asia is among the regions hardest hit by the tariffs, with six of its countries facing levies of between 32% and 49% in July if negotiations on reductions fail. "While proceeding with bilateral negotiations ... the consensus rose to have some sort of understanding with Asean that decisions should not be at the expense of any other country," Anwar told a press conference. "So we will have to protect the turf of 650 or 660 million people," he said of Asean. With a combined gross domestic product of more than $3.8 trillion, Asean members are in a precarious position in relation to the United States, which is the biggest market for the region's exports, key drivers of its growth. Anwar said on Monday that he had written to Trump requesting a meeting on the tariffs between the United States and Asean. Anwar was speaking at the conclusion of the summit on Tuesday, which included an economic gathering of leaders of the Asean bloc, Gulf countries and China, which was represented by Premier Li Qiang. PEACE EFFORT Asean leaders also called for a temporary ceasefire in army-ruled Myanmar to be expanded nationwide, to enable warring sides to build trust and work towards convening dialogue after four years of turmoil. Myanmar has been in crisis since its military overthrew an elected civilian government in 2021, triggering pro-democracy protests that morphed into a widening rebellion, with more than 3.5 million people displaced, according to the United Nations. A devastating earthquake in March that killed more than 3,800 people led to a series of temporary ceasefires in affected areas, a truce that the military government has violated with continued air strikes and artillery attacks, according to data compiled by a conflict monitor and the United Nations. "We further called for the sustained extension and nationwide expansion of the ceasefire in Myanmar, as an initial step towards the cessation of violence," the ASEAN leaders said in a statement. "We encouraged all relevant stakeholders in Myanmar to build trust towards convening an inclusive national dialogue." Anwar hailed "significant" engagement steps on Myanmar on Monday after last month holding a closed-door meeting in Bangkok with junta chief Min Aung Hlaing and virtual talks with the shadow National Unity Government, which is aligned with rebel forces. On Tuesday, Anwar said Asean leaders had agreed that the path forward was to engage all sides in the Myanmar conflict. "Now we have gone to a stage where both parties are now in consultation, although at the lower key level," he said, stressing the need to extend and expand the ceasefire. His remarks come after Maris Sangiampongsa, the foreign minister of Thailand, Myanmar's neighbour, told Reuters he would propose broader international engagement with the junta, which has been ostracised by Western powers, with sanctions imposed on the generals. (By Danial Azhar; Writing by Martin Petty; editing by Sophie Walker) - Reuters
Malaysia Sun
27-05-2025
- Business
- Malaysia Sun
Chance for change or more of the same?
People pass the logo of the 46th ASEAN Summit displayed near the Kuala Lumpur Convention Center, Malaysia, May 26, 2025. /CFP Editor's note: Andrew W. Mantong, a special commentator on current affairs for CGTN, is a researcher at the Department of International Relations under the Jakarta-based Centre for Strategic and International Studies in Indonesia. The article reflects the author's opinions and not necessarily the views of CGTN. The ongoing 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, is vital for continuing the discussions on ASEAN's centrality since in an era of geopolitical and geoeconomic challenges, the bloc's relevance as an anchor of regional diplomacy cannot be overstated. The looming threat of U.S. tariffs has combined with broader geopolitical shifts and natural crises to underscore the urgency of reinforcing ASEAN's ability to act decisively. These crises, while highlighting the group's institutional limitations, also emphasize the need for it to maintain its central role in defusing regional tensions. The question is not whether ASEAN is still central, but whether it can continue to deliver results in the face of a fragmenting geopolitical order. On the economic front, U.S. tariffs threaten ASEAN's major trade relations. The impact of the Trump administration's unilateral imposition of tariffs on Chinese goods has already begun to ripple through the region due to its reliance on Chinese supply chains. Yet ASEAN's response to external pressures has been inconsistent, largely due to its divided economic interests. While some of its members advocate collective action against tariffs, others have prioritized bilateral trade agreements with China and the U.S. This fragmentation has led to a lack of coherent regional strategies, with ASEAN members often opting for national-level responses rather than unified, multilateral solutions. This scenario underscores the urgent need to adopt more effective institutional mechanisms to handle global economic challenges. However, there are glimpses of promise. Malaysia called for ASEAN to "stand firm together" in the wake of Trump's so-called Liberation Day, April 2, when U.S. President Donald Trump announced his "reciprocal tariff" strategy. Also, the Regional Comprehensive Economic Partnership agreement, whose signatories consist of ASEAN nations along with China, Japan and South Korea, remains one of ASEAN's greatest successes. This trade pact, which aims to create the world's largest free trade area, underscores ASEAN's potential to drive economic integration across the region. A billboard in Kuala Lumpur, Malaysia, May 22, 2025. /CFP However, these positive signs are overshadowed by internal divisions and external pressures. For example, while ASEAN maintains strong economic ties with China, the China-U.S. competition increasingly complicates the group's ability to act as an impartial mediator in regional issues. As ASEAN has limited resources to tackle its existing challenges, it still needs dialogue partners to maintain its existing level of operations. But today ASEAN dialogue partners are increasingly engaging in a more intensified competition and mini-lateral platforms like the Quad may challenge ASEAN's role as the leading diplomatic body in the Asia-Pacific region. There are formidable internal problems as well. Apart from the Myanmar humanitarian and natural crisis, online fraud continues to wreak havoc on ASEAN integration, including the tourism sector, hitting hard the region's digital economy. Online scams targeting tourists have created urgent concerns about the lack of cross-border cooperation and weak law enforcement mechanisms across ASEAN member states. While the bloc has discussed the issue within various frameworks, including its economic community pillar, no concrete actions have emerged. ASEAN's traditional diplomatic engagement often falls short of addressing transnational issues like online fraud, despite the potential of the ASEAN Ministerial Meeting on Transnational Crime to combat it. Effective action requires collaboration across multiple sectors, from law enforcement to cybersecurity measures. However, ASEAN's institutional constraints - including weak cross-pillar coordination - continue to limit its ability to tackle these threats effectively. ASEAN faces an inflection point where it must decide whether to remain entrenched in its current structures and practices or take bold steps to address its inherent weaknesses. The region is at a crossroads with escalating internal crises, rising geopolitical pressures and the shifting role of major powers - all demanding urgent action. At the Malaysia summit, the challenge for ASEAN leaders is whether they can evolve to meet these challenges, or whether they will allow the status quo to persist, potentially diminishing ASEAN's relevance on the global stage. Finally, as ASEAN moves forward, the question remains: Can the bloc's centrality be maintained? If so, at what cost? The importance of ASEAN's centrality to regional powers like China, Japan and the U.S. cannot be overstated. They, while increasingly focusing on bilateral relations, still have much to gain from ASEAN's central role in regional stability. The neutrality of ASEAN provides its ability to facilitate dialogue and its potential as a unified economic bloc. In this way, ASEAN's continued centrality must be seen as a valuable strategic asset for its dialogue partners. (If you want to contribute and have specific expertise, please contact us at opinions@ Follow @thouse_opinions on X, formerly Twitter, to discover the latest commentaries in the CGTN Opinion Section.) Source: CGTN
Malaysia Sun
27-05-2025
- Business
- Malaysia Sun
ASEAN Summit opens in Malaysia with focus on integration, resilience
The 46th Association of Southeast Asian Nations (ASEAN) Summit and related meetings kicked off on Monday in Kuala Lumpur, the capital of Malaysia, with greater regional integration and resilience against trade and economic disruptions high on the agenda. Speaking at the opening ceremony of the plenary session, Malaysian Prime Minister Anwar Ibrahim urged ASEAN members to work together to face the challenges brought about by a changing world order, to ensure the agenda of sustainable and equitable development is not sidelined. "For ASEAN, our peace, stability and prosperity have often depended on an open, inclusive, rules-based international order, anchored in the free flow of trade, capital and people. These foundations are now being dismantled under the force of arbitrary action," he said. "Indeed, a transition in the geopolitical order is underway and the global trading system is under further strain, with the recent imposition of U.S. unilateral tariffs. Protectionism is resurging as we bear witness to multilateralism breaking apart at the seams," he added. Anwar also stressed the importance of strengthening cooperation with friendly partners of the grouping, noting the significance of the first-ever ASEAN-China-GCC summit, which brings together the grouping along with China - the region's biggest economic partner - and the Gulf Cooperation Council (GCC). Malaysia is the chair of ASEAN for 2025 and is hosting the ASEAN Summit and related meetings under the theme "Inclusivity and Sustainability." Established in 1967, the grouping includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (Cover via CMG) Source: CGTN
