Latest news with #AseanMinisters
Free Malaysia Today
25-05-2025
- Business
- Free Malaysia Today
Deal on Asean power grid to be sealed in October, says Tengku Zafrul
Investment, trade and industry minister Tengku Zafrul Aziz talking to his counterparts during the ministerial lunch after the 25th Asean Economic Community Council meeting today. (Bernama pic) PETALING JAYA : Negotiations on the enhanced memorandum of agreement for the Asean Power Grid (APG) are set to conclude with a signing at the 43rd Asean Ministers on Energy Meeting in October. This is aimed at strengthening regional energy security, connectivity and sustainability, Bernama quoted investment, trade and industry minister Tengku Zafrul Aziz as saying. He said the Asean economic ministers also welcomed ongoing work towards the establishment of the APG Financing Facility Framework, which will enhance cross-border flows of foreign direct investments and new funding opportunities for regional energy-related projects. 'The Asean Economic Community (AEC) Council also expressed full support for the convening of a joint meeting of Asean's energy, finance and economic ministers in August this year,' he said after the 25th AEC Council meeting in Kuala Lumpur today, held in conjunction with the 46th Asean Summit. Meanwhile, Prime Minister Anwar Ibrahim, in welcoming Laos prime minister Sonexay Siphandone, who is on a three-day official visit to Malaysia, said both parties also agreed to implement the second phase of the APG initiative, which will include Laos, Cambodia and Thailand, alongside Malaysia and Singapore. He said while the initial phase links Vietnam to the northern part of Malaysia, discussions with Siphandone underscored the need to fast-track the next phase to benefit more countries in the region. The first phase includes an undersea cable from Vietnam to the northern part of Malaysia. Anwar highlighted the growing economic confidence in Laos, citing the presence of four major Malaysian banks, namely Maybank, RHB, CIMB and Public Bank, operating in the country. Boosting cross-border trade via rail and sea Laos and Malaysia have established a partnership to boost cross-border trade via rail and sea with the exchange of a memorandum of cooperation between Penang Port Sdn Bhd (PPSB) and Thanaleng Dry Port (TDP). Prime Minister Anwar Ibrahim with Laos prime minister Sonexay Siphandone, who is on a three-day official visit to Malaysia. (Bernama pic) Anwar and Siphandone witnessed the exchange of documents for the MoC between MMC Port Holdings Sdn Bhd CEO Azman Shah Yusof and PTL Holding Co Ltd (PTLH) CEO Chanthone Sitthixay. PPSB is a subsidiary of MMC Ports, while PTLH is the parent company of Vientiane Logistics Park Co Ltd, which manages the dry port. The collaboration is part of a broader initiative under the Pan-Asia Railway Network, integrating the China-Lao Railway to create a strategic trade route linking southern China through Laos and Thailand to Malaysia's west coast. Azman said the collaboration would involve the sharing of operational knowledge, joint marketing efforts, system integration, simplification of documentation processes, harmonisation of infrastructure, and short-term personnel exchanges. MMC Ports is a holding company for its subsidiaries that operate five ports across Peninsular Malaysia, namely PPSB, Port of Tanjung Pelepas, Johor Port Bhd, Northport (M) Bhd, and Tanjung Bruas Port Sdn Bhd, making it Malaysia's largest port operator. This is the second time that TDP has signed an MoC with a Malaysian company, following an earlier agreement with Mutiara Perlis Sdn Bhd to facilitate inland port services between Perlis Inland Port and TDP in Vientiane. In 2024, total bilateral trade between Malaysia and Laos stood at RM99.7 million, with Malaysia's exports valued at RM67.8 million and imports totalling RM31.9 million. Malaysia is Laos's fifth-largest foreign investor, with total investments worth US$942 million across 46 projects in sectors including renewable energy, transport, telecommunications, construction, banking and hospitality.
Malay Mail
25-05-2025
- Politics
- Malay Mail
Indonesia calls for stronger Asean action on Myanmar crisis, backs Malaysia's initiatives
JAKARTA, May 25 — Indonesian Foreign Minister Sugiono has expressed full support for Malaysia's various initiatives, as this year's Asean Chair, in facilitating a peaceful resolution to Myanmar's internal conflict. He reaffirmed Indonesia's readiness to continue actively contributing to the restoration of democracy and stability in Myanmar during the Extended Informal Consultation on the Implementation of the Five-Point Consensus (5PC) held in Kuala Lumpur on Saturday. 'Asean's strength lies in its unity. In facing the Myanmar crisis, we must speak with one voice and act with one purpose to push for the full implementation of the 5PC,' he said, according to a statement from the Foreign Ministry on Sunday. The meeting, held ahead of the 46th Asean Summit, served as an informal forum for Asean foreign ministers and special envoys for Myanmar to discuss developments in Myanmar and explore ways to effectively implement the 5PC. The 5PC was adopted by Asean in April 2021 following the military coup in Myanmar on Feb 1 that year. It calls for an immediate cessation of violence, inclusive dialogue among all parties, the appointment of a special envoy, the delivery of humanitarian assistance, and for the envoy to be granted access to all relevant stakeholders in Myanmar. Despite its significance, implementation of the consensus has largely stalled due to the junta's continued non-compliance, with the issue remaining a central concern in Asean's ongoing engagement with Myanmar. The 46th Asean Summit is being held under Malaysia's 2025 Chairmanship theme, 'Inclusivity and Sustainability'. This year also marks the country's fifth time at the helm of the regional grouping since its previous chairmanships in 1977, 1997, 2005, and 2015. Asean comprises 10 member states: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Sugiono reiterated the importance of fully implementing the 5PC and focusing on ending violence, expanding humanitarian assistance, and ensuring inclusive dialogue involving all stakeholders in Myanmar. 'Indonesia remains steadfast in its commitment to promoting a peaceful resolution in Myanmar. Regional stability can only be achieved if Asean stands united and acts based on the principles of consensus and solidarity,' he added. — Bernama
