Latest news with #AseanEconomicCommunityStrategicPlan
New Straits Times
27-05-2025
- Business
- New Straits Times
Asean 2045: Govt to enhance scope of regional energy cooperation
PUTRAJAYA: The Energy Transition and Water Transformation Ministry has voiced its full support for the Kuala Lumpur Declaration on Aseab 2045: Our Shared Future, calling it a pivotal step towards realising the Asean Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of ministry, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming Asean Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across Asean by 2045. Fadillah also underscored the importance of advancing the Asean Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. "This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy," he said in a statement today. Fadillah said two other regional agreements, namely the Trans Asean Gas Pipeline Agreement (TAGP) and the Asean Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. "Through these initiatives, the ministry is committed to supporting the Kuala Lumpur Declaration of Asean 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient Asean Economic Community. "This commitment aligns with Malaysia Madani, the national development framework that champions sustainability, well-being, and innovation. "It also strengthens regional collaboration for the shared benefit of all Asean communities," he said. Yesterday, Asean leaders adopted the Kuala Lumpur Declaration on Asean 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th Asean Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, Asean member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions Asean as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people. – Benama
The Star
24-05-2025
- Business
- The Star
Call for Asean to maintain core principles in regional strategy
KUALA LUMPUR: Asean member states must adhere to the principles of centrality, neutrality and non-alignment as the region navigates forward, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic). The Investment, Trade and Industry Minister said Asean must try its best to align common interests and respond in a more coordinated manner to navigate the current complexities of global trade. 'Towards that end, Malaysia takes its role as the Chair of Asean seriously,' said Tengku Zafrul in his speech during the pre-media briefing on the Asean Economic Community Strategic Plan 2026-2030 yesterday. Collectively, he said Asean and dialogue partners have also reaffirmed support for a rules-based multilateral trading system. 'As Asean Chair, Malaysia will continue to prioritise constructive engagements, premised on trade diplomacy. 'Up till recently, we are reasonably sure that Asean has and will continue being a region where investments and trade thrive. We are reasonably sure that Asean is well on its way to becoming the world's fourth largest economic bloc by 2030. 'Today, to ensure those projections remain true in the years to come, we need to organise and coordinate ourselves better,' he said. Asked about how Asean would navigate on the fears of certain products flooding the market amid the global trade war, Tengku Zafrul said the Asean economic ministers have decided that the bloc needed to form a GeoEconomic Task Force at the Asean level to address the issue. 'The decision was for Malaysia and Indonesia to co-lead this,' he said. Malaysia will host the 46th Asean Summit and Related Summits on Monday and Tuesday. Wisma Putra is taking the lead in organising these summits under Malaysia's Asean chairmanship this year with the theme 'Inclusivity and Sustainability'. Two other high-level meetings – the 2nd Asean-Gulf Cooperation Council (GCC) Summit and the Asean-GCC-China Economic Summit – will also be held.
The Star
23-05-2025
- Business
- The Star
Asean must embrace centrality and neutrality, says Tengku Zafrul
KUALA LUMPUR: Asean member states must adhere to the principles of centrality, neutrality, and non-alignment as the region moves forward, according to Tengku Datuk Seri Zafrul Abdul Aziz. The Investment, Trade and Industry Minister emphasized that Asean should align common interests and respond more cohesively to the complexities of global trade. "To that end, Malaysia takes its role as the Chair of Asean seriously," said Tengku Zafrul during the pre-media briefing on the Asean Economic Community Strategic Plan 2026-2030 on Friday (May 23). He noted that Asean and its dialogue partners have reaffirmed support for a rules-based multilateral trading system. "As Asean chair, Malaysia will continue to prioritise constructive engagements, premised on trade diplomacy," he added. Tengku Zafrul highlighted that Asean's uniqueness is not only essential for the world but also something that cannot be easily replicated elsewhere. "Up till recently, we were reasonably sure that Asean has and will continue being a region where investments and trade thrive. We were reasonably sure that Asean is well on its way to becoming the world's fourth-largest economic bloc by 2030. "Today, to ensure those projections remain true in the years to come, we need to organise and coordinate ourselves better," he said. In addressing concerns about certain products flooding the market amid the global trade war, Tengku Zafrul mentioned that Asean economic ministers have decided to form a GeoEconomic Taskforce to address the issue, co-led by Malaysia and Indonesia. Malaysia will host the 46th Asean Summit and Related Summits from May 26 to 27. Wisma Putra is leading the organisation of these summits under Malaysia's Asean chairmanship this year with the theme 'Inclusivity and Sustainability'. Two other high-level meetings – the 2nd Asean-Gulf Cooperation Council (GCC) Summit and the Asean-GCC-China Economic Summit – will also be held.:
