Latest news with #ASEANEconomicCommunityCouncil
Barnama
4 days ago
- Business
- Barnama
தெங்கு சஃப்ருல் கையெழுத்திட்ட உறுதிமொழி அமல்படுத்த முடியவில்லை
Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Aziz speaks at a press conference after the conclusion of the ASEAN Economic Community Council meeting today. The meeting was held on the sidelines of the 46th ASEAN Summit at the Kuala Lumpur Convention Centre. -- fotoBERNAMA (2025) COPYRIGHT RESERVED
Barnama
26-05-2025
- Business
- Barnama
ASEAN Economy To Expand at 4.7 Pct In 2025
BUSINESS KUALA LUMPUR, May 25 -- Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (left) holds a press conference on the ASEAN Economic Community Council (AECC) during the 46th ASEAN Summit at the Kuala Lumpur Convention Centre (KLCC) today. Also present was Deputy Minister of Investment, Trade and Industry, Liew Chin Tong (right). -- fotoBERNAMA (2025) COPYRGHT RESERVED By Anas Abu Hassan KUALA LUMPUR, May 25 (Bernama) -- The collective ASEAN gross domestic product (GDP) is projected to grow at 4.7 per cent in 2025 as compared to 4.2 per cent last year, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the 25th ASEAN Economic Community (AEC) Council meeting today also forecast the inflation rate for the region at three per cent. "There was a discussion and a presentation by the ASEAN Secretariat when we talked about the year 2024 and what our forecast is for the year 2025 in terms of GDP growth. There was also a discussion on what we expect the inflation rate to be. "So today, the expectation is 4.7 per cent for 2025 for the ASEAN GDP growth and inflation around three per cent," he said in a press conference after the conclusion of the 25th AEC Council meeting on the sidelines of the 46th ASEAN Summit here today. According to Tengku Zafrul, the projection is higher than average compared to the global growth rate and it is really driven by the strong export and public capital spending in larger economies. "But the 4.7 per cent growth is subject to … there is a downside risk to that projection because of the external environment and such that we need to look at," he added. Commenting on negotiations on the tariff issue, Tengku Zafrul noted that ASEAN member states have agreed on ASEAN neutrality and will continue to support the principle of multilateralism and the need for engagement between each country and the United States (US). "Every country will have its position vis-à-vis the US, and we welcome the engagement that has been done bilaterally by ASEAN member states," he added.
BusinessToday
25-05-2025
- Business
- BusinessToday
ASEAN Economic Ministers Emphasise Unity Amid Global Trade Tensions
Economic ministers from ASEAN member states reaffirmed the region's commitment to unity and measured diplomacy amid intensifying global trade disruptions. According to Malaysia's Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz, ASEAN has chosen dialogue over retaliation, and the collective decision to pursue engagement has helped prevent escalation and maintained channels of cooperation with the US and other major economies. Tengku Zafrul credited ASEAN's proactive stance, including a series of recent consultations with Dialogue Partners such as China, Japan, Australia and New Zealand, as key to maintaining regional economic stability. He also emphasised the importance of strengthening intra-ASEAN trade to reduce external dependencies. With 11 agenda items on the docket for the 25th ASEAN Economic Community Council (AECC) meeting, the economic ministers would review progress on AEC initiatives and endorse proposals to be presented at the upcoming 46th ASEAN Summit. The Chair praised the ASEAN Secretariat and Senior Officials for their work in driving these initiatives forward. The meeting also marked a milestone for Timor-Leste, which participated under newly adopted ASEAN guidelines, signalling its gradual integration into the regional bloc. Reiterating ASEAN's founding values of peace, stability and shared progress, Tengku Zafrul urged the ministers to maintain a forward-looking approach as the current economic climate calls for renewed resolve not retreat. As Malaysia leads ASEAN into its 2025 Chairmanship, the AECC meeting underscored a central message: Regional cooperation remains ASEAN's strongest asset in a rapidly shifting global order. Related
Barnama
25-05-2025
- Business
- Barnama
ASEAN Economic Ministers Concerned About Slow Progress Of ASEAN-India FTA Talks
Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Aziz (left) speaks at a press conference after the conclusion of the ASEAN Economic Community Council meeting today, while his deputy Liew Chin Tong looks on. The meeting was held on the sidelines of the 46th ASEAN Summit at the Kuala Lumpur Convention Centre. -- fotoBERNAMA (2025) COPYRIGHT RESERVED By Anas Abu Hassan KUALA LUMPUR, May 25 (Bernama) -- ASEAN Economic Ministers have raised concern over the slow progress of the bloc's free trade agreement (FTA) talks with India, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. 'We are concerned that the ASEAN-India FTA is not moving as fast as it should,' he told a press conference here today after the conclusion of 25th ASEAN Economic Community (AEC) Council Meeting held in conjunction with the 46th ASEAN Summit. Details for the slow progress were not revealed. The ASEAN-India Framework Agreement on Comprehensive Economic Cooperation was signed during 2nd ASEAN-India Summit in 2003 -- the framework agreement laid a sound basis for the establishment of an ASEAN-India Free Trade Area, which covers goods, services and investment. Subsequently, the signing of the ASEAN-India Trade in Goods Agreement (AITIGA) was completed on Aug 13, 2009, in Bangkok and entered into force on Jan 1, 2010. As of 2023, ASEAN was India's seventh largest trading partner with a total trade of more than US$130 bilion (US$1=RM4.23), comprising US$44 billion of export and US$87 billion of import. Chaired by Tengku Zafrul, the 25th AEC Council Meeting was attended by Deputy Minister of Investment, Trade and Industry Liew Chin Tong; Brunei's Minister of Finance and Economy II Datuk Awang Mohd Amin Liew Abdullah; Cambodia's Minister of Commerce Cham Nimul; Vietnam's Minister of Industry and Trade Nguyen Hong Dien; Indonesian Trade Minister Budi Santoso; and Laos' Minister of Industry and Commerce Malaithong Kommasith. Other representatives included Department of Trade and Industry Undersecretary Allan B. Gepty (Philippines), Deputy Prime Minister Gan Kim Yong (Singapore), Minister of Commerce Pichai Naripthaphan (Thailand) and Deputy Prime Minister Francisco Kalbuadi Lay (Timor-Leste).
Barnama
25-05-2025
- Business
- Barnama
MENTERI EKONOMI ASEAN BIMBANG KEMAJUAN PERLAHAN BERKAITAN FTA ASEAN-INDIA
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (sixth from left) poses for a group photo with ASEAN Economic Community Council (AECC) leaders before chairing the 25th ASEAN AECC meeting today. The meeting was held on the sidelines of the 46th ASEAN Summitat the Kuala Lumpur Convention Centre. -- fotoBERNAMA (2025) COPYRIGHT RESERVED
