Latest news with #Blueprint2025
The Sun
6 days ago
- Business
- The Sun
Tackling economic shortfalls in Asean
AS Malaysia hosts the 46th Asean Summit, 2nd Asean GCC-Summit and Asean-GCC-China Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached a 97% implementation rate. While commendable, this figure marks not an end but a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars – economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement – the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has nonetheless grown substantially in value, increasing from US$353 billion (RM1.49 trillion) in 2007 to over US$856 billion by 2022. Tools like the Asean single window initiative have further facilitated cross-border trade, enhancing regional supply chain integration. Yet, these achievements have obscured persistent structural gaps. Intra-regional trade remains proportionally low compared to blocs like the European Union or US- Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress under the AEC's second pillar, which is fostering a competitive and innovative region, has also been uneven. All 10 Asean countries now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The Asean Post-2025: Reimagining the Asean Economic Community report by the ISEAS – Yusof Ishak Institute, rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to repositioning Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes but on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. But this outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. But implementation alone is no longer sufficient. The challenge now is to build a bolder and more coherent vision – one that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking and towards building a resilient, inclusive and future-ready regional economy. Ahmad Faiz Yazid is an executive trainee at Permodalan Nasional Berhad and part of the secretariat under Yayasan Sukarelawan
The Sun
6 days ago
- Business
- The Sun
ASEAN Economic Community Blueprint 2025 nears completion
AS Malaysia hosts the 46th Asean Summit, 2nd Asean GCC-Summit and Asean-GCC-China Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached a 97% implementation rate. While commendable, this figure marks not an end but a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars – economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement – the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has nonetheless grown substantially in value, increasing from US$353 billion (RM1.49 trillion) in 2007 to over US$856 billion by 2022. Tools like the Asean single window initiative have further facilitated cross-border trade, enhancing regional supply chain integration. Yet, these achievements have obscured persistent structural gaps. Intra-regional trade remains proportionally low compared to blocs like the European Union or US- Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress under the AEC's second pillar, which is fostering a competitive and innovative region, has also been uneven. All 10 Asean countries now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The Asean Post-2025: Reimagining the Asean Economic Community report by the ISEAS – Yusof Ishak Institute, rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to repositioning Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes but on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. But this outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. But implementation alone is no longer sufficient. The challenge now is to build a bolder and more coherent vision – one that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking and towards building a resilient, inclusive and future-ready regional economy. Ahmad Faiz Yazid is an executive trainee at Permodalan Nasional Berhad and part of the secretariat under Yayasan Sukarelawan Siswa for the Asean Summit 2025. Comments: letters@
New Straits Times
6 days ago
- Business
- New Straits Times
AEC achievement should spur Asean to greater integration
As Malaysia hosts the 46th Asean Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached 97 per cent implementation rate. This marks a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a far more complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars—economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement—the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has grown substantially in value, increasing from US$353 billion in 2007 to over US$856 billion by 2022. Tools like the Asean Single Window have further facilitated cross-border trade, enhancing regional supply chain integration. Yet intra-regional trade remains proportionally low compared to blocs like the European Union or United States-Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its own markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress of the AEC's second pillar, the fostering a competitive and innovative region, has been uneven. All Asean members now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states, such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting the widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly, but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability, but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The "ASEAN Post-2025: Reimagining the ASEAN Economic Community" report by the ISEAS-Yusof Ishak Institute rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks, and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to reposition Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes, but also on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. This outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. The challenge now is to build a bolder, more coherent vision. One that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking towards building a resilient, inclusive, and future-ready. The writer is part of the Secretariat under Yayasan Sukarelawan Siswa for the Asean Summit 2025.
![[UPDATED] Asean: Retaliatory trade moves risk worsening global fragmentation](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FHQ260525AA085_1748354075.jpg&w=3840&q=100)
New Straits Times
6 days ago
- Business
- New Straits Times
[UPDATED] Asean: Retaliatory trade moves risk worsening global fragmentation
KUALA LUMPUR: Asean has underscored that unilateral and retaliatory trade actions are counterproductive and risk exacerbating global economic fragmentation. In a joint statement following the 46th Asean Summit, the bloc said it had instructed relevant officials to monitor the potential risk of trade diversion and engage with partners through established platforms for constructive solutions. The statement comes amid the United States' (US) imposition of unilateral tariffs on Asean members. "Asean underscores that unilateral and retaliatory trade actions are counterproductive and risk exacerbating global economic fragmentation, especially when these actions create indirect impacts on Asean. "We also remain committed to a peaceful and constructive resolution with our partners through consultative dialogue, mutual respect, and adherence to international law, in line with the fundamental principles under the Treaty of Amity and Cooperation in Southeast Asia. "To this end, we reaffirm Asean's commitment to regional unity, economic stability and practical cooperation in navigating external challenges," it said. It said member states were committed to maintaining open and secure trade flows, and working with partners to strengthen supply chain resilience and promote sustainable development. It reaffirmed the bloc's unwavering commitment to upholding the multilateral trading system, highlighting the importance of a predictable, transparent, inclusive, free, fair, sustainable and rules-based framework, with the World Trade Organisation (WTO) at its core. "We are ready to engage constructively with WTO members to advance necessary reforms and ensure that the global trading system remains predictable, transparent, non-discriminatory, open, and capable of addressing contemporary challenges," it said. It said member states were also determined to leverage the full benefit of regional economic integration to reinforce resilience and act collectively in the face of external disruptions, including unilateral trade measures that threaten the integrity and stability of the global trading system. "Asean stands ready to lead with unity, ambition, and a firm belief in a rules-based multilateral trading system." As the Asean Economic Community (AEC) Blueprint 2025 enters its final phase, Asean reaffirmed its commitment to delivering and advancing a bold and forward-looking Asean Community Vision 2045. The bloc also reaffirmed Asean's unity and centrality as key to regional peace, stability and prosperity. Asean leaders said they would undertake timely and targeted domestic measures to mitigate the impact of high tariffs, including safeguards to support the region's industries and workers, particularly those most vulnerable to trade disruptions. "At the same time, we will work collectively to ensure that Asean is well prepared to embrace future transformative change that drives innovation, fosters resilience, and enhances regional competitiveness. "In doing so, we are determined to ensure that no one is left behind in our journey towards a more inclusive, sustainable and digitally empowered Asean."
The Sun
7 days ago
- Politics
- The Sun
ASEAN socio-cultural plan to uplift 680 million people through inclusive, resilient community-building
KUALA LUMPUR: ASEAN has charted a bold socio-cultural agenda to uplift the lives of over 680 million people across the region by 2045, aiming to forge a resilient, inclusive and people-centred community in the face of growing global uncertainties. The plan builds on the foundation laid by the ASEAN Socio-Cultural Community (ASCC) Blueprint 2025 and responds to emerging challenges such as ageing populations, digital exclusion, public health threats, climate change and widening social inequality. 'It also recognises the opportunities arising form emerging megatrends such as digital technology advancement and green and blue economies,' according to the ASEAN 2045: Our Shared Future document. Among the key goals of the ASCC plan is to build a people-centred and interconnected community through equitable digital access, greater regional mobility, and enhanced cooperation in education, lifelong learning and social protection. The strategy also envisions a caring and inclusive ASEAN that promotes shared prosperity by investing in gender equality, women's empowerment, and stronger protections for migrant workers, persons with disabilities, and the elderly. Human security and resilience feature prominently, with ASEAN pledging to address mental health, ageing, and natural disasters through partnerships between governments, civil society and the private sector. 'Youth engagement is a high priority. The plan outlines measures to equip young people to lead in innovation, climate action and entrepreneurship, while promoting active participation in ASEAN's socio-economic development. 'Women's empowerment is another central focus. ASEAN seeks to increase female representation in decision-making, develop gender-responsive policies, and invest in care infrastructure to reduce unpaid work and improve well-being,' the document read. The ASCC Plan also highlights the importance of preserving ASEAN's rich cultural heritage. It seeks to strengthen regional identity through arts, education, digital platforms and community-based initiatives, particularly in underserved areas. ASEAN aims to develop a thriving sports ecosystem, positioning the region as a hub for regional competitions promoting peace, inclusion and health while driving socio-economic growth. On sustainability, the strategy promotes food and water security, universal healthcare access and disaster preparedness. 'ASEAN will implement a robust monitoring and evaluation system to measure progress with key performance indicators, guided by the ASCC Database for Monitoring and Evaluation (ADME), ensuring accountability and timely action. A Mid-Term Review is planned for 2030, followed by an end-of-term evaluation in 2035,' it said. Ultimately, the ASCC Strategic Plan represents ASEAN's collective resolve to ensure that no one is left behind, building a united, compassionate and future-ready community that values both people and the planet. The document, endorsed by ASEAN leaders through the Kuala Lumpur Declaration on ASEAN 2045, comprises six key documents that will serve as the foundation for the region's development over the next two decades. These include the ASEAN Community Vision (ACV) 2045, and the strategic plans for the Political-Security, Economic, and Socio-Cultural Communities, as well as plans for Connectivity and regional integration. Each strategic plan outlines specific goals and measures -- the ASEAN Political-Security Community (APSC) with nine goals and 178 measures, ASEAN Economic Community (AEC) (six goals, 192 measures), ASEAN Socio-Cultural Community (ASCC) (12 goals, 112 measures) and ASEAN Connectivity Plan (six goals, 49 measures).
