Latest news with #AseanDigitalEconomyFrameworkAgreement
New Straits Times
3 days ago
- Business
- New Straits Times
Snowflake can play important role in Asean's DEFA
SAN FRANCISCO: US-based cloud company Snowflake said it could play an important part in the Asean Digital Economy Framework Agreement (DEFA) as the bloc's member countries aim to conclude negotiations by the end of this year. Its Asean managing director, Satchit Joglekar, said Snowflake has always focused on building ecosystems, especially with the connectedness inherent in its artificial intelligence (AI) data cloud that ensures companies across Asean — not just within a single country like Singapore or Indonesia — have a connected ecosystem that also extends from their supply chains to how they serve their customers. "These ecosystems can cut across multiple Asean countries, encompassing both customers and suppliers. Our core mission has been to enable this connectedness securely and in a governed fashion. "This allows data to be leveraged through our connected, secure data cloud to unlock value within that ecosystem, whether through data-sharing relationships or by building and distributing applications on our marketplaces. "This approach is aligned with the company's vision to build a connected ecosystem that is not specific to each country or a particular conglomerate but extends it across the entire digital ecosystem in Asean," he told Bernama on the sidelines of the Snowflake Summit 2025 held at Moscone Centre here. Satchit added that Snowflake can also play a significant role in enabling the community. Pointing out that a key strength of Asean is its large and growing young population emerging from educational institutions, he said the company is actively pursuing partnerships with institutions of higher learning in the major economies where it invests and has a presence. He said by introducing concepts like the AI Data Cloud, connectedness and data ecosystems, for example, at the earliest levels, students can leverage them in their careers whilst at the same time, consistently engaging with communities of data engineers, data scientists and data professionals, ensuring they are up to speed with the latest advancements in the ecosystem. Satchit said this could lead the communities in the data ecosystem to unlock value for their companies, country and the future of the Asean digital economy. "The DEFA continues to be a pivotal step for the grouping, not just in embracing the digital economy but helping to define its future. With negotiations set to conclude by 2025, the time for businesses to act is now. Those who prepare early will be best positioned to lead," he said. The DEFA, which aims to provide a comprehensive roadmap to empower businesses and stakeholders across Asean, is expected to create its own history by becoming the world's first region-wide digital economy and legally binding agreement. The agreement is expected to focus on key areas such as cross-border e-commerce, cyber security, digital trade, digital ID and digital payments and new emerging areas like AI. According to Boston Consulting Group, Asean's digital economy is projected to triple by the end of the decade through the natural adoption of digital technologies, growing to almost US$1 trillion (US$1 = RM4.24) by 2030 from about US$300 billion to date, and with DEFA, it could double the value contribution, unlocking US$2 trillion to Asean's digital economy. -- BERNAMA
![[UPDATED] Asean commits to deepen economic ties with GCC, external partners](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FHQ270525HR025_1748354594.jpg&w=3840&q=100)
New Straits Times
27-05-2025
- Business
- New Straits Times
[UPDATED] Asean commits to deepen economic ties with GCC, external partners
KUALA LUMPUR: Asean is committed to intensifying its economic engagements by deepening cooperation with external partners and expanding ties with new and emerging partners. In a joint statement following the 46th Asean Summit, Asean leaders said this includes region-to-region linkages such as those with the Gulf Cooperation Council (GCC). "Asean is also committed to intensifying its economic engagements by deepening cooperation with external partners and expanding engagement with new and emerging partners, including region-to-region linkages such as with the GCC. "Together, these efforts will reinforce Asean's resilience, expand and enhance economic opportunities, and secure its position as a dynamic and forward-looking hub of global trade and investment," they said. Amid global challenges, the regional bloc said Asean remains committed to being a reliable economic partner to all, and will continue to advance regional economic integration by strengthening and expanding existing economic partnerships, as well as seeking new opportunities for economic cooperation. These efforts will be anchored in mutual respect, shared values, and a common goal of peace and prosperity. "We stand ready to work constructively with all partners to advance and support a resilient, inclusive, and rules-based multilateral trading system for the benefit of our peoples and economies." It also reaffirmed strengthening Asean's resilience by further deepening internal trade and investment. This includes accelerating priority initiatives, including the Asean Digital Economy Framework Agreement and the upgrade of the Asean Trade in Goods Agreement. "We are confident that these efforts will reinforce regional integration, boost business certainty and competitiveness, and ensure Asean remains cohesive, agile and responsive to emerging challenges." The regional bloc added that it would also leverage, modernise, and upgrade Asean Plus One Free Trade Agreements (FTAs) and the Regional Comprehensive Economic Partnership Agreement (RCEP) in mitigating the risk of global trade uncertainties and supply chain disruptions. This would be done while ensuring they remain modern, comprehensive, and inclusive, whilst, in parallel, strengthening and boosting intra-Asean trade and investment, and responsive to 21st-century economic realities. They would also enhance Asean's internal coordination, making full use of existing cross-sectoral mechanisms and the newly established Asean Geoeconomic Task Force. "To this end, we task relevant ministers to monitor the current global economic challenges and to coordinate as appropriate for a strategic and coherent Asean response," they said. They added that the Asean Outlook on the Indo-Pacific (AOIP) is a vital instrument and primary framework that guides Asean's engagement of all its partners, anchored in the principles of Asean-centred, openness, inclusivity, transparency, resilience, and rules-based order regional architecture that upholds international law.
AsiaOne
27-05-2025
- Business
- AsiaOne
Asean must strengthen its integration to give itself 'manoeuvring space': PM Wong, Singapore News
KUALA LUMPUR — Asean countries must redouble efforts to deepen the grouping's integration in a world where multilateralism and globalisation are in retreat, Prime Minister Lawrence Wong said on May 26. Doing so while also strengthening its external partnerships will be key to ensuring it has "the manoeuvring space and the agency" to continue charting its own destiny in these turbulent times, he added. Speaking at both the plenary and retreat sessions of the 46th Asean Summit in Kuala Lumpur, PM Wong said a more ambitious agenda is necessary for Asean in the years ahead if the region is to be more secure, stable and prosperous. In his remarks, PM Wong commended Malaysia for its efforts in steering Asean's response through these very difficult times. "We should continue to constructively engage the US, individually as countries but more importantly, collectively as Asean. We appreciate Malaysia's leadership in that regard," he said. PM Wong noted that, under Malaysia's chairmanship, Asean concluded upgrades to trade pacts such as the Asean Trade in Goods Agreement and the Asean-China Free Trade Agreement, and is also on track to concluding negotiations on the Asean Digital Economy Framework Agreement in 2025. "All this demonstrates Asean's ability to make progress in meaningful areas of co-operation, but there is still much more to be done, and we have to chart a more ambitious agenda for Asean in the years ahead," he said. PM Wong also welcomed the signing of an enhanced memorandum of understanding on the Asean Power Grid — aimed at improving regional clean energy connectivity — but noted that there are still key elements that must be put in place, including a proper framework for subsea power cables in Asean. A key area for improvement is in the timely implementation of agreements that the grouping has already inked, he said. PM Wong said his officials found 24 economic agreements, some from as far back as 2015, which had been agreed to but still not implemented. "Clearly, there is still a lot of room for us to improve in terms of implementation, execution and strengthening our integration even in existing areas of goods, services and investments," he said. He also urged the removal of barriers, such as complex customs procedures and import licensing requirements that continue to hamper intra-Asean trade, and that the region accelerate trade in services and its competitiveness as an investment area. "If we are open and candid with ourselves, we know that while we have achieved much, there is still so much more that needs to be done," he told fellow Asean leaders during the summit at the Kuala Lumpur Convention Centre. Quoting Singapore's founding foreign minister S. Rajaratnam — who said Asean must hang together or it will hang separately — PM Wong urged the other member countries to reinforce the grouping's centrality, while also demonstrating its value to external partners. While Asean is already strengthening partnerships with other economies by enhancing its free trade agreements, PM Wong said it should also grow its relationships with other regional groupings. He noted that countries such as China, Japan, South Korea and India are keen to do more with Asean, as do its partners outside East Asia such as the European Union, Australia, New Zealand and Canada. While some of these countries may not be ready to become formal partners, Asean should engage them in specific areas of mutual interest and be flexible in configuring ways to co-operate, as it is doing with the Gulf Cooperation Council (GCC) countries, said PM Wong. Singapore also welcomes more Asean members to be part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), he added. The CPTPP is a free trade agreement among 12 economies: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam. "If you look at all of us combined — Asean, CPTPP, the EU and the GCC — collectively, we make up a significant part of the world economy," he said. "And if together, we can push back and uphold a rules-based trading system, that would enable us to strengthen multilateralism and make our overall economic foundations a lot more robust and resilient." PM Wong also stressed the need for Asean to ensure that its existing platforms remain relevant and effective in building trust, managing differences and preventing outright conflict. This is especially so for the East Asia Summit (EAS), which brings together all the major powers with interests in the region, he noted. The EAS is a leaders-led platform for dialogue and co-operation on political, security and economic issues, involving Asean and eight other participating countries. "Although these platforms cannot solve all the issues, they help to foster collaboration and dialogue," he said. Turning to Myanmar, PM Wong expressed appreciation for Malaysia's leadership in Asean's response in the aftermath of the recent earthquake there. The 7.7-magnitude earthquake that struck central Myanmar on March 28 caused widespread devastation and killed thousands. PM Wong reiterated Singapore's readiness to support Asean's humanitarian efforts, and joined other leaders in calling for an extended ceasefire as one step towards a longer-term political solution. Myanmar has been in turmoil since its military staged a coup against the elected government in February 2021. Asean drew up a five-point peace plan with the military two months later that called for dialogue among all parties, an immediate halt to the violence in Myanmar, the appointment of an Asean special envoy to facilitate mediation, humanitarian assistance, and a visit by an Asean delegation to the country to meet all concerned parties. "We know that successive chairs have tried to find a way forward for Myanmar and move things in the right direction," PM Wong said. "Unfortunately, progress has been slow. The issues are complex, and it's very difficult to find a way forward. But we should still continue to engage." In the meantime, Asean must continue to uphold the Five-Point Consensus, and the leaders' decisions to restrict Myanmar's representation at its meetings to non-political figures. This is important for Asean's credibility, especially with its external partners, said PM Wong. PM Wong said Asean faces many daunting challenges, but that they can be overcome if the grouping steps up both its internal integration and its external partnerships. "We have almost 60 years of experience in responding to and overcoming crises. I'm confident that we can do it again," he said. On May 26, Asean leaders also signed the Kuala Lumpur Declaration 2045 — Our Shared Future, a new blueprint that reaffirms the grouping's commitment to a sustainable and inclusive future. In a speech at the signing ceremony, Malaysian Prime Minister Anwar Ibrahim said Asean's continued relevance will be defined by revolutions in technology and science. He called for the grouping to embrace innovation while learning to govern it together, and with care. Asean leaders also attended a gala dinner hosted by Datuk Seri Anwar and his wife at the Kuala Lumpur Convention Centre. [[nid:718377]] This article was first published in The Straits Times. Permission required for reproduction.
Straits Times
26-05-2025
- Business
- Straits Times
Asean must strengthen its integration to give itself ‘manoeuvring space': PM Wong
- Asean countries must redouble efforts to deepen the grouping's integration in a world where multilateralism and globalisation are in retreat, Prime Minister Lawrence Wong said on May 26. Doing so while also strengthening its external partnerships will be key to ensuring it has 'the manoeuvring space and the agency' to continue charting its own destiny in these turbulent times, he added. Speaking at both the plenary and retreat sessions of the 46th Asean Summit in Kuala Lumpur, PM Wong said a more ambitious agenda is necessary for Asean in the years ahead if the region is to be more secure, stable and prosperous. In his remarks, PM Wong commended Malaysia for its efforts in steering Asean's response through these very difficult times. He noted that, under Malaysia's chairmanship, Asean concluded upgrades to trade pacts such as the Asean Trade in Goods Agreement and the Asean-China Free Trade Agreement, and is also on track to concluding negotiations in 2025 to the Asean Digital Economy Framework Agreement. 'All this demonstrates Asean's ability to make progress in meaningful areas of cooperation, but there is still much more to be done, and we have to chart a more ambitious agenda for Asean in the years ahead,' he said. PM Wong also welcomed the signing of an enhanced memorandum of understanding on the Asean Power Grid - aimed at improving regional clean energy connectivity - but noted there are still key elements that must be put in place, including a proper framework for subsea power cables in Asean. A key area for improvement is in the timely implementation of agreements that the grouping has already inked, he said. PM Wong said his officials found 24 economic agreements, some from as far back as 2015, which had been agreed to but still not implemented. 'Clearly, there is still a lot of room for us to improve in terms of implementation, execution, and strengthening our integration even in existing areas of goods, services and investments,' he said. He also urged the removal of barriers, such as complex customs procedures and import licensing requirements which continue to hamper intra-Asean trade, and for the region to accelerate trade in services and its competitiveness as an investment area. 'If we are open and candid with ourselves, we know that while we have achieved much, there is still so much more that needs to be done,' he told fellow Asean leaders during the summit at the Kuala Lumpur Convention Centre (KLCC). Quoting Singapore's founding Foreign Minister S. Rajaratnam - who said Asean must hang together or it will hang separately - PM Wong urged the other member countries to reinforce the grouping's centrality, while also demonstrating its value to external partners. He noted that countries such as China, Japan, South Korea and India are keen to do more with Asean, as do its partners outside East Asia such as the European Union, Australia, New Zealand and Canada. While some of these countries may not be ready to become formal partners, Asean should engage them in specific areas of mutual interest and be flexible in configuring ways to cooperate, as it is doing with the Gulf Cooperation Council (GCC) countries, said PM Wong. He also stressed the need for Asean to ensure that its existing platforms remain relevant and effective in building trust, managing differences and preventing outright conflict. This is especially so for the East Asia Summit (EAS), which brings together all the major powers with interests in the region, he noted. The EAS is a leaders-led platform for dialogue and cooperation on political, security and economic issues, involving Asean and eight other participating countries. 'Although these platforms cannot solve all the issues, they help to foster collaboration and dialogue,' he said. Turning to Myanmar, PM Wong expressed appreciation for Malaysia's leadership of Asean's response in the aftermath of the recent earthquake there. The 7.7-magnitude earthquake that struck central Myanmar on March 28 caused widespread devastation and killed thousands. PM Wong reiterated Singapore's readiness to support Asean's humanitarian efforts, and joined other leaders in calling for an extended ceasefire as one step toward a longer-term political solution. Myanmar has been in turmoil since its military staged a coup against the elected government in February 2021. Asean drew up a five-point peace plan with the military two months later that called for dialogue among all parties, an immediate halt to the violence in Myanmar, the appointment of an Asean special envoy to facilitate mediation, humanitarian assistance, and a visit by an Asean delegation to the country to meet all concerned parties. 'We know that successive chairs have tried to find a way forward for Myanmar and move things in the right direction,' he said. 'Unfortunately, progress has been slow. The issues are complex and it's very difficult to find a way forward. But we should still continue to engage.' In the meantime, Asean must continue to uphold the Five-Point Consensus, and the leaders' decisions to restrict Myanmar's representation at its meetings to non-political figures. This is important for Asean's credibility, especially with its external partners, said PM Wong. PM Wong said Asean faces many daunting challenges, but that they can be overcome if the bloc steps up both its internal integration and its external partnerships. 'We have almost 60 years of experience in responding to and overcoming crises. I'm confident that we can do it again,' he said. On May 26, Asean leaders also signed the Kuala Lumpur Declaration 2045 – Our Shared Future, a new blueprint that reaffirms the bloc's commitment to a sustainable and inclusive future. In a speech at the signing ceremony, Malaysian Prime Minister Anwar Ibrahim said Asean's continued relevance will be defined by revolutions in technology and science. He called for the bloc to embrace innovation while learning to govern it together, and with care. The group's leaders also attended a gala dinner hosted by PM Anwar Ibrahim and his wife at KLCC. Join ST's WhatsApp Channel and get the latest news and must-reads.
New Straits Times
24-04-2025
- Business
- New Straits Times
Malaysia positioned to lead Asean in cyebersecurity, says Kaspersky
SINGAPORE: Malaysia ranks highly in cybersecurity readiness within Asean, according to global cybersecurity firm Kaspersky. Kaspersky's general manager for Southeast Asia, Yeo Siang Tiong, said Malaysia has demonstrated strong capabilities in managing and addressing cyber threats, positioning the country to lead the region in this critical field. "My observation is based on several factors. One clear indicator is the Cyber Security Act 2024, which came into effect on Aug 26, 2024. It identifies critical industries and establishes a regulatory framework for cybersecurity. "The second factor is the country's capabilities and resources. Malaysia has a large pool of cybersecurity professionals and threat researchers. Third, there is strong public awareness, with effective outreach programmes led by CyberSecurity Malaysia and the National Cyber Security Agency (NACSA), which have shown significant progress," he told Bernama at GITEX Asia 2025 today. Yeo also pointed out that as the host of the Asean Chairmanship 2025, Malaysia is playing an increasingly pivotal role in uniting regional efforts to enhance cybersecurity. "Malaysia is leading the Asean Digital Economy Framework Agreement (DEFA), where cybersecurity is a key foundational pillar. "As cybercriminals know no boundaries, DEFA enables Malaysia to coordinate with other Asean nations to prevent the escalation of cybercrime in the region," he added. When asked about the upcoming Malaysia Cyber Security Strategy (2025–2030), Yeo outlined four key pillars designed to strengthen national cyber defence. "First is building resilience, not just to withstand attacks but to recover from them. The second pillar is immunity, where we advocate our concept of 'cyber immunity.' "Third is awareness, which remains essential, and lastly, intelligence—focusing on countering cyber threats, including those from organised crime groups targeting critical infrastructure, government, and the supply chain," he explained. Kaspersky made its debut as the first Cyber Immunity Partner at GITEX Asia 2025, held from Apr 23 to 25 at Marina Bay Sands, Singapore. GITEX Asia is part of the GITEX GLOBAL series, the world's largest technology exhibition and startup showcase. — BERNAMA
