Latest news with #ASEANSummit
Borneo Post
8 hours ago
- Business
- Borneo Post
ASEAN-GCC-China: A Brave New World?
Malaysia could stand proud not merely for arranging such a smoothly run Summit, but also for the bridging of minds that have arguably emerged as key voices of the newly resurgent Global South. – Bernama photo Posterity, I dare say, will regard the recently concluded ASEAN-Gulf Cooperation Council (GCC)-China Summit in Kuala Lumpur in May as a historic turning point. While the ASEAN Summit and its related meetings like the ASEAN-GCC Summit were equally historic for their role in progressing ASEAN's agenda, current trade wars and geopolitical fragmentation have somehow made many quarters perceive the inaugural ASEAN-GCC-China Summit as the gamechanger during the recent ASEAN gathering. A potential 'reconciler to the fragmented world' Malaysia could stand proud not merely for arranging such a smoothly run Summit, but also for the bridging of minds that have arguably emerged as key voices of the newly resurgent Global South, particularly through the successful issuance of a Joint Statement – usually the most difficult feat in any multilateral meeting. As part of their Joint Statement, the ASEAN-GCC-China leaders condemned the continued atrocities on the people of Gaza and called for a ceasefire, echoing the sentiments of all right-minded peoples across the world. Beyond politics, a deeper trilateral economic integration makes perfect sense. For context, the combined numbers for ASEAN, GCC and China speak for themselves: over a quarter of the world's population, and a collective GDP of almost USD trillion. Figures for foreign direct investment (FDI) inflows, too, stack up nicely: ASEAN attracted USD billion in FDI inflows, representing about a significant portion of global FDI. China received USD billion, while the GCC secured USD billion. Collectively, these figures accounted for roughly a substantial share of global FDI inflows. From such data alone, the significance of this combined economic might was clear to the leaders from China and the two economic blocs. ASEAN can be a strategic gateway to the East Asian markets. Malaysia, in particular, with our well-established trade and industrial ecosystem, rule of law and ease of investor journey is also well-poised to facilitate such investments into the broader ASEAN and East Asian markets. The GCC's economic dynamism, strategic location connecting Europe, Asia and Africa, and its shared religious and cultural values with Malaysia as well as ASEAN make it an ideal partner for deeper economic integration. Indeed, ASEAN's trade with the GCC stood at USD billion and FDI inflows were USD million. On a wider scale, China, as we know, was ASEAN's largest trading partner with USD billion in trade and USD billion in foreign direct investment. China and the GCC are hence crucial economic partners for ASEAN and for Malaysia. It therefore is totally appropriate for us to want to engage with them, both on a bilateral and trilateral format. That is also why Malaysia will soon start negotiations for a free trade agreement (FTA) with the GCC, because there is so much potential to increase the current total trade between Malaysia and the GCC. How ASEAN deals benefit its people But I want to go a bit more granular and show how engaging on an ASEAN-GCC-China scale can benefit ordinary Malaysians, including the youth, women and MSMEs. Through the Priority Economic Deliverables (PEDs) under the Economic Pillar of Malaysia's ASEAN Chairmanship, the Ministry of Investment, Trade and Industry (MITI) and other related Ministries are working diligently to ensure substantial progress for these PEDs by year-end. Some of these are of course directly linked to the GCC and China. For instance, we have completed negotiations to not only upgrade the ASEAN Trade in Goods Agreement (ATIGA) but also the ASEAN-China Free Trade Area (ACFTA). Both of these will be signed in October, boosting both intra-ASEAN and ASEAN's trade with China which as we know will be key to tide our region over during this period of geopolitical instability. Separately, another of our PEDs, namely the Joint Declaration on Economic Cooperation Between the ASEAN-Gulf Cooperation Council (GCC) was also completed in full. Through this, our two regions will explore new avenues of cooperation like market integration, sustainability, decarbonisation, digital transformation and inclusion, including for MSMEs. Sectorally, ASEAN's PED on the Development of Policy Recommendations and Guidelines to Support ASEAN EV Implementation Roadmap will benefit from China's global leadership in electrical vehicles (EVs). Accounting for more than a large majority of global electric car production, China also produced more than a dominant share of all EV batteries ever manufactured. Consider also the Endorsement of the ASEAN Plan of Action for Energy Cooperation, which is clearly in alignment with the GCC's ramping up of its efforts to diversify its economies and energy mix away from oil and gas in pursuit of renewable energy (RE). They have pledged a massive investment in RE by the end of the decade to transition to clean energy and reduce carbon emissions. There are, indeed, many synergies for economic integration. Development of ASEAN Tourism Outlook? China and GCC are key tourist markets for ASEAN. An ASEAN Framework for Integrated Semiconductor Supply-Chain (AFISS)? China is both a major chip buyer and maker. In conclusion, when Malaysia proposed the PEDs for its Chairmanship year, we were clear on how we could boost ASEAN's socio-economic dynamism and ergo, the ASEAN-GCC-China trilateral relationship can likewise contribute to this. Furthermore, global demand for halal products is currently valued at over USD trillion and will grow significantly by the end of the decade. This is a market ASEAN, GCC and China can collaborate to tap on and even corner together. Also, as previously highlighted, as a combined market of more than two billion people, ASEAN, GCC and China should be regions where young Malaysian men and women, including those in small business, look for job or business opportunities. We are paving the way for all our Malaysian jaguhs to enter wider markets for their goods and services, while ensuring that their interests will always be safeguarded through well negotiated FTAs. Deeper economic integration supports regional security But one would argue that even spreading one's wings to ASEAN really is just a waypoint for the truly ambitious. While other regions may draw inwards, our three are seeking even greater connectivity for our people and businesses. The coming together of ASEAN-GCC-China's leaders signals that we refuse for our horizons to be limited—by ourselves or others—to our own borders or backyards. Indeed, deeper economic integration would do well to better support regional security, which feeds into ASEAN's Political-Security deliverables. This is also why ASEAN – with its principles of centrality, neutrality, non-alignment – must matter to not only its Member States, but also to partners like the GCC, China and indeed, other Dialogue Partners like Australia, Canada, the European Union, India, Japan, New Zealand, the Republic of Korea, Japan and New Zealand. Truth be told, what we can achieve together through this nascent ASEAN-GCC-China trilateral configuration is only limited by our imaginations.
The Sun
a day ago
- Business
- The Sun
PM Anwar highlights Vietnam's key role in ASEAN
KUALA LUMPUR: Malaysian Prime Minister Datuk Seri Anwar Ibrahim has described Vietnam as a very significant member within the Association of Southeast Asian Nations (ASEAN), while speaking to Vietnam News Agency (VNA) correspondents in Kuala Lumpur. PM Anwar said both Malaysia and he personally value the progress made in cooperation between the two countries. Talking about Vietnam's role within the bloc, the PM noted that he maintains regular contact with Vietnamese leaders to exchange views on ASEAN-related issues, including the US's new tariff policy and the situation in Myanmar. Malaysia and Vietnam are working closely together on these issues, he said, noting that Vietnam supports Malaysia's initiative to promote the ASEAN Power Grid. Reflecting on the growing relationship between the two countries, especially after it was elevated to a comprehensive strategic partnership in November 2024, Anwar said there have already been clear results in several fields. He cited enhanced bilateral trade and investment cooperation, including the collaboration between the two countries' national oil and gas corporations. Addressing the remaining challenges, the Malaysian leader expressed confidence that the two countries are always willing to find solutions together. Malaysian experts have also shared insights into Vietnam's growing role within ASEAN. Speaking to the VNA, Dr. Oh Ei Sun, Principal Adviser at Malaysia's Pacific Research Centre, described Vietnam as a dynamic and effective participant at the recent ASEAN Summit in Kuala Lumpur. He noted that the Vietnamese Prime Minister, in his address at the summit, outlined three key focuses, with a strong emphasis on the need for ASEAN to adopt a development mindset grounded in inclusiveness. The expert stressed this was a crucial point, highlighting Vietnam as an example. Over the past two to three decades, the country has made a remarkable leap - from a peripheral player to a central and increasingly influential member of ASEAN. This, he said, demonstrates the importance of ensuring all member states, regardless of their level of development, can engage fully and effectively in the bloc. Citing Vietnam's experience, he expressed confidence that less developed members could also rise with support from stronger economies within ASEAN. Beyond inclusiveness, Oh said the Vietnamese PM also underlined the importance of connectivity. Thanks to its important location, Vietnam plays a crucial role in linking Southeast Asia's shipping routes and is expected to contribute significantly to the region's railway network. In terms of resilience, he commended the PM for addressing the issue at a right time. With a large and young population and strong rice production capacity, Vietnam has the potential to boost exports to other ASEAN countries, including Malaysia. He added that ASEAN members could learn valuable lessons regarding food and energy security from Vietnam. The expert added that the Vietnamese PM's speech on inclusiveness, connectivity, and resilience was relevant and useful to ASEAN members at this year's summit. Regarding Malaysia-Vietnam relations, Dr Oh highlighted the two countries's elevation of their bilateral relations to a Comprehensive Strategic Partnership in last November, saying it is a timely decision and the relations have been witnessing many positive changes. Specifically, more and more Vietnamese students pursue studies at universities in Malaysia; bilateral trade is also on the rise; the two countries coordinate effectively, and make contributions to the development of ASEAN. More importantly, both countries support the admission of Timor-Leste as a new ASEAN member, as well as assist to develop its economy. Sharing the same view with Dr Oh on Vietnam's role in ASEAN, Collins Chong Yew Keat, an expert on foreign affairs and security at the University of Malaya, affirmed that Vietnam has a very positive influence on the development of ASEAN with its great contributions in many fields. Vietnam is currently playing an active role in promoting energy transition, digital transformation and ensuring food security. This is a great support for all other ASEAN members as well as the bilateral relationship between Vietnam and Malaysia. Chong emphasised that it is clear that Vietnam's role in ASEAN's development as well as building a stronger, more resilient, more inclusive and sustainable ASEAN in all areas. This is reflected in Vietnam's spectacular and transformational economic growth rate, improving people's lives as well as its determination to move towards a digital economy, a green economy, and sustainable development. He expressed his belief that Vietnam will be one of the leading countries in ASEAN and together with other members, including Malaysia, promote the common agenda of a more prosperous, inclusive, unified ASEAN with peace, stability and safety.
The Sun
a day ago
- Business
- The Sun
Anwar: Vietnam key partner in ASEAN's unity and growth
KUALA LUMPUR: Malaysian Prime Minister Datuk Seri Anwar Ibrahim has described Vietnam as a very significant member within the Association of Southeast Asian Nations (ASEAN), while speaking to Vietnam News Agency (VNA) correspondents in Kuala Lumpur. PM Anwar said both Malaysia and he personally value the progress made in cooperation between the two countries. Talking about Vietnam's role within the bloc, the PM noted that he maintains regular contact with Vietnamese leaders to exchange views on ASEAN-related issues, including the US's new tariff policy and the situation in Myanmar. Malaysia and Vietnam are working closely together on these issues, he said, noting that Vietnam supports Malaysia's initiative to promote the ASEAN Power Grid. Reflecting on the growing relationship between the two countries, especially after it was elevated to a comprehensive strategic partnership in November 2024, Anwar said there have already been clear results in several fields. He cited enhanced bilateral trade and investment cooperation, including the collaboration between the two countries' national oil and gas corporations. Addressing the remaining challenges, the Malaysian leader expressed confidence that the two countries are always willing to find solutions together. Malaysian experts have also shared insights into Vietnam's growing role within ASEAN. Speaking to the VNA, Dr. Oh Ei Sun, Principal Adviser at Malaysia's Pacific Research Centre, described Vietnam as a dynamic and effective participant at the recent ASEAN Summit in Kuala Lumpur. He noted that the Vietnamese Prime Minister, in his address at the summit, outlined three key focuses, with a strong emphasis on the need for ASEAN to adopt a development mindset grounded in inclusiveness. The expert stressed this was a crucial point, highlighting Vietnam as an example. Over the past two to three decades, the country has made a remarkable leap - from a peripheral player to a central and increasingly influential member of ASEAN. This, he said, demonstrates the importance of ensuring all member states, regardless of their level of development, can engage fully and effectively in the bloc. Citing Vietnam's experience, he expressed confidence that less developed members could also rise with support from stronger economies within ASEAN. Beyond inclusiveness, Oh said the Vietnamese PM also underlined the importance of connectivity. Thanks to its important location, Vietnam plays a crucial role in linking Southeast Asia's shipping routes and is expected to contribute significantly to the region's railway network. In terms of resilience, he commended the PM for addressing the issue at a right time. With a large and young population and strong rice production capacity, Vietnam has the potential to boost exports to other ASEAN countries, including Malaysia. He added that ASEAN members could learn valuable lessons regarding food and energy security from Vietnam. The expert added that the Vietnamese PM's speech on inclusiveness, connectivity, and resilience was relevant and useful to ASEAN members at this year's summit. Regarding Malaysia-Vietnam relations, Dr Oh highlighted the two countries's elevation of their bilateral relations to a Comprehensive Strategic Partnership in last November, saying it is a timely decision and the relations have been witnessing many positive changes. Specifically, more and more Vietnamese students pursue studies at universities in Malaysia; bilateral trade is also on the rise; the two countries coordinate effectively, and make contributions to the development of ASEAN. More importantly, both countries support the admission of Timor-Leste as a new ASEAN member, as well as assist to develop its economy. Sharing the same view with Dr Oh on Vietnam's role in ASEAN, Collins Chong Yew Keat, an expert on foreign affairs and security at the University of Malaya, affirmed that Vietnam has a very positive influence on the development of ASEAN with its great contributions in many fields. Vietnam is currently playing an active role in promoting energy transition, digital transformation and ensuring food security. This is a great support for all other ASEAN members as well as the bilateral relationship between Vietnam and Malaysia. Chong emphasised that it is clear that Vietnam's role in ASEAN's development as well as building a stronger, more resilient, more inclusive and sustainable ASEAN in all areas. This is reflected in Vietnam's spectacular and transformational economic growth rate, improving people's lives as well as its determination to move towards a digital economy, a green economy, and sustainable development. He expressed his belief that Vietnam will be one of the leading countries in ASEAN and together with other members, including Malaysia, promote the common agenda of a more prosperous, inclusive, unified ASEAN with peace, stability and safety.
Barnama
a day ago
- Business
- Barnama
PM Anwar Highlights Vietnam's Key Role In ASEAN
KUALA LUMPUR, May 30 (Bernama-VNA) -- Malaysian Prime Minister Datuk Seri Anwar Ibrahim has described Vietnam as a very significant member within the Association of Southeast Asian Nations (ASEAN), while speaking to Vietnam News Agency (VNA) correspondents in Kuala Lumpur. PM Anwar said both Malaysia and he personally value the progress made in cooperation between the two countries. Talking about Vietnam's role within the bloc, the PM noted that he maintains regular contact with Vietnamese leaders to exchange views on ASEAN-related issues, including the US's new tariff policy and the situation in Myanmar. bootstrap slideshow Malaysia and Vietnam are working closely together on these issues, he said, noting that Vietnam supports Malaysia's initiative to promote the ASEAN Power Grid. Reflecting on the growing relationship between the two countries, especially after it was elevated to a comprehensive strategic partnership in November 2024, Anwar said there have already been clear results in several fields. He cited enhanced bilateral trade and investment cooperation, including the collaboration between the two countries' national oil and gas corporations. Addressing the remaining challenges, the Malaysian leader expressed confidence that the two countries are always willing to find solutions together. Malaysian experts have also shared insights into Vietnam's growing role within ASEAN. Speaking to the VNA, Dr. Oh Ei Sun, Principal Adviser at Malaysia's Pacific Research Centre, described Vietnam as a dynamic and effective participant at the recent ASEAN Summit in Kuala Lumpur. He noted that the Vietnamese Prime Minister, in his address at the summit, outlined three key focuses, with a strong emphasis on the need for ASEAN to adopt a development mindset grounded in inclusiveness.
Borneo Post
a day ago
- Politics
- Borneo Post
Malaysia's leadership shines at ASEAN Summit with key milestones and global partnership
Prime Minister Datuk Seri Anwar Ibrahim is seen alongside ASEAN, Gulf, and Chinese leaders during the 2nd ASEAN-Gulf Cooperation Council (GCC)-China Summit. – Bernama photo KUALA LUMPUR (May 30): Undoubtedly, the ASEAN Summit held in the capital earlier this week concluded on a high note, marking a significant moment for regional diplomacy and Malaysia's leadership on the Southeast Asian stage. Several key milestones were achieved at the meeting, which was attended by leaders from all ten ASEAN member states and key dialogue partners. One of the most significant outcomes of the summit was the formal announcement that Timor-Leste will become a full member of ASEAN by October 2025. Membership in ASEAN is never an easy path for any country, as the regional bloc works on a consensus basis. All it takes is for a member country to oppose the new entrant, and it goes out the window. There have been some anxious moments for the youngest Asian nation, which has just a 1.5 million population, with one Timor Leste diplomat joking that 'going to heaven is easier than joining ASEAN.' Resource-rich Timor-Leste occupies the eastern part of the island of Timor, at the far eastern tip of the Indonesian archipelago. But with its biggest supporter, Datuk Seri Anwar Ibrahim, pushing for its entrance into ASEAN, there were plenty of behind-the-scenes persuasions to ensure a consensus was met. After years of preparation and observer participation, Timor-Leste's accession was unanimously endorsed. The Prime Minister described the decision as 'historic and deeply symbolic,' noting that it represents ASEAN's commitment to inclusivity and support for emerging democracies in the region. Malaysia has been providing training for the country's budding diplomats at the Institute of Diplomacy and Foreign Relations (IDFR). The IDFR also organised a specialised programme for over 50 government officials in support of Timor-Leste's journey toward ASEAN membership. In addition, two key high-level meetings – the ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit – concluded successfully on the sidelines of the 46th ASEAN Summit. The ASEAN-GCC-China Summit, which was attended by China's Premier Li Qiang, is unprecedented as this is the first of its kind, reflecting Malaysia's push for greater economic cooperation. Against the backdrop of crippling tariffs and rising economic uncertainties, the Al Jazeera described the meeting as 'alternative centres of global power in full display with the GCC and China attending the ASEAN summit for the group's inaugural trilateral meeting.'' The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Both engagements reflected ASEAN's increasing global relevance and its strategy of balanced engagement. For Anwar, the summit was not only a diplomatic success but a personal milestone that underscored his growing influence in regional affairs. The successful hosting of the summit was a defining moment in his premiership as the event offered a platform to showcase his commitment to multilateralism, inclusive development, and principled diplomacy. He was able to forge economic consensus in rallying member states around the ASEAN Digital Trade Framework Agreement (ADTFA), demonstrating his ability to bridge diverse economic interests. He successfully aligned Malaysia's digital economy goals with broader ASEAN ambitions. Some have asked why the Palestine issue was brought up at a forum which should emphasise only regional economic operation, but the point is that ASEAN needs to be a voice that has to be taken seriously by the international community. Anwar used the summit to push for a stronger ASEAN position on the humanitarian crisis in Gaza. His passionate advocacy led to a joint ASEAN statement urging an immediate ceasefire and calling for greater humanitarian access – a rare unified stance on a sensitive international issue. Anwar also convened a special session on sustainable energy, bringing together ministers and private sector leaders to discuss accelerating the energy transition. His proposal for a regional ASEAN Green Finance Initiative gained traction, with several member states agreeing to explore joint green bond issuances. Kudos to the Foreign Ministry for elevating the Malaysian diplomatic status with its smooth and well-organised hosting of the summit. It certainly has Malaysia's reputation as a capable and constructive regional player. Anwar's emphasis on dialogue, inclusivity, and regional solidarity certainly resonated with both ASEAN leaders and external partners. But the job for Malaysia's ASEAN 2025 Chairmanship, themed 'Inclusivity and Sustainability', isn't fully done yet. Three major events are coming up with the ASEAN Foreign Ministers and ASEAN Post Ministerial Conference (AMM PMC) in July, and the ASEAN Economic Ministers meeting in September. The grand finale is from Oct 24-26, where the 47th Summit will be held and attended by its dialogue partners. ASEAN dialogue partners are Australia, Canada, China, the European Union, India, Japan, New Zealand, South Korea, Russia, the United Kingdom and the United States. – Bernama Datuk Seri Wong Chun Wai, a veteran journalist, is the chairman of BERNAMA, the national news agency. anwar ibrahim Asean Summit diplomacy lead leadership
