Latest news with #AseanLeaders'Summit
The Star
09-08-2025
- Business
- The Star
Zafrul: Rules-based trading system vital for today
OSAKA: Asean's strong position and principles of centrality and multilateralism must be reinforced in facing geopolitical and geoeconomic challenges, says Tengku Datuk Seri Zafrul Abdul Aziz ( pic ). The Investment, Trade and Industry Minister said a rules-based trading system is important for Asean, especially in today's scenario, where things are uncertain when it comes to trade. 'Given the geopolitical tension and geoeconomic challenges that we face today, trade diversification is an important strategy, and focus,' he said at the Asean Day celebration held on the sidelines of the World Expo 2025 here. Tengku Zafrul said Asean, among others, has decided to upgrade the Asean trade and goods agreement to strengthen economic cooperation. 'When people are challenging the current economic order, we feel that we should double down on strengthening the principles of multilateralism. In fact, we are looking at new areas of cooperation in trade, where we are probably going to be the first bloc to sign a digital economy framework agreement,' he said. Tengku Zafrul also said that it is important for Asean to focus on sustainable growth for the region, particularly in terms of gross domestic product and in markets to expand trade and investment. 'We want growth to be inclusive, and equitable. In light of what's happening globally, we also want the growth to be resilient,' he added. Tengku Zafrul said the World Expo 2025 in Osaka offers a timely platform for Asean to showcase not just its identity but also its diversity and unity to the global community. 'We look forward to welcoming Japan to the Asean Economic Ministers' Meeting in September and to the Asean Leaders' Summit in October. I believe that through constant dialogue we build trust, and that trust will build a much better Asean and a much better Asia for our future generations,' he said. Asean Economic Community deputy secretary-general Satvinder Singh said Asean has expressed its readiness to upgrade its free trade agreement (FTA) with Japan, signalling a desire to bring the decades-old pact into the modern economic era. He said there is a growing urgency and opportunity to refresh the Asean-Japan Comprehensive Economic Partnership signed in 2008 in line with new economic realities. He highlighted Asean's recent achievements in modernising economic agreements with China, Australia, New Zealand, and India, which now include new components such as e-commerce, innovation, global supply chain resilience, and sustainability. 'Clearly, Japan should also be one of the priorities for Asean in the coming years. On the Asean side, we are ready to engage with Japan when it is ready,' he added.
Sinar Daily
26-05-2025
- Business
- Sinar Daily
Philippines Marcos replaces foreign minister in reshuffle
The announcement came a day after Marcos called on all of his cabinet secretaries to resign in a "bold reset" of his administration. 26 May 2025 01:50pm Philippines' President Ferdinand Marcos Jr attends the plenary session at the 46th Asean Summit in Kuala Lumpur on May 26, 2025. - (Photo by Jam STA ROSA / AFP) MANILA - Philippine President Ferdinand Marcos has replaced his foreign minister but kept his economic team, a senior official said Friday. The announcement came a day after Marcos called on all of his cabinet secretaries to resign in a "bold reset" of his administration. Department of Foreign Affairs Secretary Enrique Manalo will be replaced by Undersecretary Theresa Lazaro effective July 31, according to a palace briefing. Manalo will instead be appointed as the Philippines' permanent representative to the United Nations. Analysts told AFP on Thursday that the cabinet revamp was aimed at reviving popularity after Marcos' party saw disappointing mid-term election results. "I'm not calling it a 'purge', it is a cleansing... More action will be coming," Executive Secretary Lucas Bersamin said at the briefing. The outgoing foreign minister will still accompany Marcos to the Asean Leaders' Summit in Malaysia next week. The cabinet shuffle will also see the environment secretary replaced by the energy secretary, but other posts are still undergoing "more careful evaluations", Bersamin said. Marcos meanwhile plans to keep his secretaries of finance, trade, budget and economic planning. "The president decided to retain these five members of the economic team so that there will be no more problems of perception about where the country is going," Bersamin added. - AFP
The Star
23-05-2025
- Business
- The Star
Philippines Marcos replaces foreign minister in reshuffle but keeps his economics team intact
MANILA (AFP): Philippine President Ferdinand Marcos has replaced his foreign minister but kept his economic team, a senior official said Friday. The announcement came a day after Marcos called on all of his cabinet secretaries to resign in a "bold reset" of his administration. Department of Foreign Affairs Secretary Enrique Manalo will be replaced by Undersecretary Theresa Lazaro effective July 31, according to a palace briefing. Manalo will instead be appointed as the Philippines' permanent representative to the United Nations. Analysts told AFP on Thursday that the cabinet revamp was aimed at reviving popularity after Marcos' party saw disappointing mid-term election results. "I'm not calling it a 'purge', it is a cleansing... More action will be coming," Executive Secretary Lucas Bersamin said at the briefing. The outgoing foreign minister will still accompany Marcos to the Asean Leaders' Summit in Malaysia next week. The cabinet shuffle will also see the environment secretary replaced by the energy secretary, but other posts are still undergoing "more careful evaluations", Bersamin said. Marcos meanwhile plans to keep his secretaries of finance, trade, budget and economic planning. "The president decided to retain these five members of the economic team so that there will be no more problems of perception about where the country is going," Bersamin added. - AFP
The Star
09-05-2025
- Business
- The Star
Thai PM says that joint Cabinet meeting planned at Thailand-Malaysia border
BANGKOK (Bernama): Thai Prime Minister Paetongtarn Shinawatra and Malaysian Prime Minister Datuk Seri Anwar Ibrahim have agreed to hold a joint Cabinet meeting later this year at the Sadao-Bukit Kayu Hitam border area. Paetongtarn, in a post on her official X account, said the matter was discussed during a phone conversation with Anwar on Thursday to address issues of mutual interest and concern between the two countries. "We agreed to attend the opening of the new transborder road linking the new Sadao-Bukit Kayu Hitam checkpoints and to hold a joint Cabinet meeting there later this year,' she said. Paetongtarn said Thailand and Malaysia reaffirmed the importance of ending violence in Thailand's southern border provinces and strengthening collaboration to jointly develop the border areas of both sides. Paetongtarn said they also discussed ways to strengthen Asean cooperation amid global challenges in trade, as well as to provide humanitarian assistance and support efforts to restore peace in Myanmar. "I will continue discussions with Prime Minister Anwar during the Asean Leaders' Summit later this month in Kuala Lumpur," she added. Anwar paid a two-day working visit to Thailand last month, during which he met with Paetongtarn to enhance bilateral relations and cooperation on cross-border infrastructure projects, particularly in southern Thailand. During the visit, both prime ministers witnessed the signing of a Memorandum of Understanding (MoU) on the Construction Agreement (CA) for the Rantau Panjang - Sungai Kolok Bridge Project. In 2024, Thailand ranked as Malaysia's seventh-largest trading partner globally and the third-largest among Asean member countries, with trade valued at US$25.03 billion (RM114.56 billion). Between January and February 2025, bilateral trade amounted to US$3.96 billion (RM17.65 billion), an increase from US$3.67 billion (RM16.80 billion) recorded during the same period in 2024. - Bernama
New Straits Times
09-05-2025
- Business
- New Straits Times
Anwar, Paetongtarn plan joint cabinet meeting at Malaysia-Thailand border this year
BANGKOK: Prime Minister Datuk Seri Anwar Ibrahim and his Thai counterpart, Prime Minister Paetongtarn Shinawatra, have agreed to hold a joint Cabinet meeting later this year at the Sadao-Bukit Kayu Hitam border area. Paetongtarn, in a post on her official X account, said the matter was discussed during a phone conversation with Anwar on Thursday to address issues of mutual interest and concern between the two countries. "We agreed to attend the opening of the new transborder road linking the new Sadao-Bukit Kayu Hitam checkpoints and to hold a joint Cabinet meeting there later this year," she said. Paetongtarn said Thailand and Malaysia reaffirmed the importance of ending violence in Thailand's southern border provinces and strengthening collaboration to jointly develop the border areas of both sides. Paetongtarn said they also discussed ways to strengthen Asean cooperation amid global challenges in trade, as well as to provide humanitarian assistance and support efforts to restore peace in Myanmar. "I will continue discussions with Prime Minister Anwar during the Asean Leaders' Summit later this month in Kuala Lumpur," she added. Anwar paid a two-day working visit to Thailand last month, during which he met with Paetongtarn to enhance bilateral relations and cooperation on cross-border infrastructure projects, particularly in southern Thailand. During the visit, both prime ministers witnessed the signing of a Memorandum of Understanding (MoU) on the Construction Agreement (CA) for the Rantau Panjang - Sungai Kolok Bridge Project. In 2024, Thailand ranked as Malaysia's seventh-largest trading partner globally and the third-largest among Asean member countries, with trade valued at US$25.03 billion (RM114.56 billion). Between January and February 2025, bilateral trade amounted to US$3.96 billion (RM17.65 billion), an increase from US$3.67 billion (RM16.80 billion) recorded during the same period in 2024. – BERNAMA
