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Free Malaysia Today
22-05-2025
- Business
- Free Malaysia Today
Anwar lays out Malaysia's Asean vision ahead of key summit
The 46th Asean Summit opens on Monday in Kuala Lumpur, with the theme 'Sustainability and Inclusivity'. (Bernama pic) PUTRAJAYA : As Malaysia prepares to host the 46th Asean Summit from May 26 to 27, Prime Minister Anwar Ibrahim has articulated the nation's vision for a more cohesive and confident Southeast Asia amid escalating global uncertainty. Speaking at a media briefing yesterday, Anwar acknowledged the complexity of the region's biggest challenges and said he harboured no illusions about being able to resolve them within a year. 'We are a small player in the region, but we need to be politically stable and economically resilient, and build strong bonds with our neighbours,' he said when elaborating on his personal expectations. As Asean chair this year, Malaysia is adopting a pragmatic approach under the theme 'Sustainability and Inclusivity'. Anwar said the country was prioritising bilateral initiatives that contribute to broader Asean integration, citing joint development efforts along the border with southern Thailand as one example. Asean members are also trading more in local currencies, with over 20% of Malaysia's trade with Indonesia and China already denominated in the ringgit or yuan. Dismissing talk of a de-dollarisation of business activity and the establishment of an Asian Monetary Fund, Anwar said regional currency swaps under the Chiang Mai Initiative pointed to growing financial cooperation. 'Our thrust for Asean this year is, of course, to strengthen cohesiveness, to increase intra-Asean trade, and to focus on economy and investments,' he said. Anwar also highlighted progress on the Asean Power Grid, which aims to connect Sarawak's energy supply to Sabah, Kalimantan, and the southern Philippines. 'This is something which we need to explore further, particularly because we have settled the Petronas-Petros issue,' he said. Geopolitical tensions Anwar played down talk of worsening tensions in the South China Sea, acknowledging occasional friction between China and the Philippines but noting a recent report that tensions appeared to be 'cooling off'. 'In the last few weeks, things have been more cool, more circumspect,' he said, adding that both sides appeared 'very ready to discuss' the matter. He reiterated Asean's stance of strategic neutrality, stressing continued engagement with all its partners, including the US, China, and the European Union, without choosing sides. Key things to watch One major outcome expected from this year's summit is the Kuala Lumpur Declaration, and the launch of the Asean Community Vision 2045, a 20-year blueprint aimed at enhancing the bloc's political, economic, and socio-cultural cooperation. According to Anwar, the blueprint is 'comprehensive' and will cover digitalisation and other future-oriented issues while ensuring that the 'pre-conditions of peace and security' are maintained. Malaysia will also host the first Asean-Gulf Cooperation Council–China Economic Summit, aimed at strengthening interregional economic ties. Anwar rejected suggestions that the initiative represented the formation of a new geopolitical alliance. 'It's not a power triangle,' he said, adding that discussions might include joint subregional projects.
Daily News Egypt
19-05-2025
- Business
- Daily News Egypt
Malaysia PM Ibrahim: BRICS a Cohesive Force for Global South
Malaysia Prime Minister Anwar Ibrahim has described BRICS as a 'new initiative' and a 'cohesive force within the Global South,' following Malaysia's designation as a BRICS partner country in 2025. This came during his interview with TV BRICS. In 2025, Malaysia was granted the status of the BRICS partner country. What does this status mean, and what opportunities does it bring for both BRICS and Malaysia? Malaysia is a trading nation. ASEAN takes its position of centrality, which means we should engage with all countries. BRICS represents a new initiative as a cohesive force within the Global South. We decide for one another; we assist and negotiate with the rest, and I think that shows that there is an interest to protect our turf at the same time and collaborate with the others. Closer ties with BRICS will surely impact the economy. What are Malaysia's top priorities for further economic development in the coming years, and which sectors do you intend to develop first? Right now, there is a focus on digital transformation, connectivity, and massive investments in data centres and AI. As you know, Malaysia is now the hub in the region for semiconductors, AI, and data centres, and then we embark on an energy transition. We're also advancing our energy transition agenda in cooperation with ASEAN neighbours and are now implementing a regional power grid to improve energy sharing across the sub-region. In addition, food security remains a key priority. Our collaborations with countries like the Russian Federation, China, and Brazil will strengthen our resilience in this area. You have already mentioned that digital transformation was highlighted in a recent statement by the Malaysia External Trade Development Corporation as one of the country's strategic development areas for the coming years. What specific initiatives and changes are envisioned under this digital transformation? There might be clarity of policies. We set our priorities, we have a National Semiconductor Strategy, and we have therefore been able to attract massive investments from the biggest players in the world. I mean, other than Google, Microsoft, NVIDIA, we have Infineon from Germany, with massive investments, the biggest outside Germany, for example. Fortunately, we have no difficulty in attracting investments. The focus now is on increasing efficiency and making the country even more attractive. At the same time, train our personnel and talent. And this is one of my themes and priorities when now I visit Russia; before that – China, Japan, or Korea; and of course, Brazil for the BRICS summit. Transformation, in your opinion, is also possible in the financial sector. I have read about your proposals to revive the idea of an Asian Monetary Fund – not necessarily to compete, but rather to create a kind of buffer zone to protect from economic crisis. Is that correct? Could you tell us more about it? Yes, we've taken steps in that direction. One example is the Chiang Mai Initiative, where central banks in the region collaborate and promote the use of local currencies. For example, now with Thailand, Indonesia, and China, targeting 20 per cent of trade transactions in local currencies – representing billions of dollars. This shows that where we can, we should proceed, although the dollar still becomes a dominant currency in the world. But at least we can have some sort of reprieve to mitigate, to protect our national interests. With the constant GDP growth and major investments into technology, international experts see Malaysia's economy as resilient. The confidence is also supported by the free trade agreements, including one with the United Arab Emirates, which is a member of BRICS. What do these free trade agreements involve? And are there any similar agreements planned with other BRICS or BRICS+ countries? Of course, there is an advantage because BRICS now is focusing on the need to enhance trade within the Global South. Now, a free trade agreement is, of course, a very practical and effective mechanism which is put in place to ensure that we can have a free flow of goods and products. We have done so with many countries. For example, the European Union – after the Trump tariff policies – has re-engaged and is now keen to pursue FTAs with Malaysia and hopefully with ASEAN. We have done so with the United Kingdom. It takes a very sort of practical, pragmatic approach. What gives BRICS added value is its focus on the unique needs of its members – particularly in sectors like raw materials, petrochemicals, gas, and food products – which often face disadvantages in global markets. I think that the BRICS leaders and experts are trying to negotiate, to promote some agreements so that we can interact and trade with each other more effectively. Besides gaining BRICS partner status, Malaysia also assumed the ASEAN Chairmanship in 2025. What key issues are Southeast Asian countries focusing on during Malaysia's Chairmanship? We're privileged to host the ASEAN meeting at the end of May, which will focus primarily on economic matters. It will also include participation from the Gulf Cooperation Council (GCC), with all six Arab states attending, and which then follows up with China as an economic summit to focus on the economy. That shows that our focus is back on the economic fundamentals. Then at the end of the year, we will host the annual Heads of Government meeting, joined by East Asian economies, India, Australia, New Zealand, and of course the United States. It will be a major opportunity to engage our key trading partners and reinforce our commitment to rules-based multilateral cooperation. I think that the spirit of ASEAN and the spirit of BRICS are not to be subjected to unilateral actions over any particular country. How are Malaysia and ASEAN working together to achieve the Sustainable Development Goals, and which of the 17 goals are a top priority? Well, we are fortunate that, as a sub-region, ASEAN probably is the most peaceful, the most vibrant economically. While economic fundamentals remain our primary focus, achieving the Sustainable Development Goals (SDGs) is an integral part of our long-term vision. That is why I have mentioned the grid. The power grid is an alternative power; it's not fuel-based, not fossil fuel. It is, therefore, an alternative energy source – hydro and gas – that would then link the region. This is a phenomenal shift from the international method and is a major contribution to climate protection, environmental priority. I think that's a very important beginning as far as we are concerned. In response to the effects of climate change, ASEAN states are taking action at national, regional, and global levels. What specific measures are being taken, and how are countries cooperating in this area? If I'm not mistaken, a strategic action plan has already been adopted. Yes, but we have to take a position too. In Malaysia, for instance, over 52 per cent of our land remains covered in virgin forests and jungles. We can't go on listening to some of the industrialised countries, hectoring us about what to do while they themselves have destroyed the environment and are not honouring their promises of support. We can make a lot of money now just by selling off the timber, but we don't. Why? We want to protect our heritage and the environment. And that's our rule – even if it comes at a cost. Now, that's why various corporations in the past have already given commitments. But what we hear instead are more unwarranted lectures, without real action to deliver justice to many relatively poorer countries, even within the ASEAN region. Malaysia is a bit fortunate – we're at least struggling along – but some countries are in a much more difficult shape. We want them to protect the environment – no cutting of the forests. But then it would have been fair to give them the necessary support they promised. But, as I said, this has not been fully fulfilled. Overall, what is the environmental protection policy of ASEAN countries, and Malaysia specifically? Southeast Asia is known for its rich biodiversity. Since 1977, ASEAN nations have been implementing joint environmental initiatives and approving environmental programmes. What are the major achievements so far, and what initiatives are currently underway? When I talk about environmental protection and supporting climate initiatives, it's not just about Malaysia. I mean, of course Malaysia is an oil-producing country, we take major steps. But all countries in ASEAN have adopted similar programmes. And I think to do justice to these countries, they are doing what is reasonably expected of them. That's what I'm saying. I mean, why do you expect us to do much more than we can when other countries are not even fulfilling their commitments to assist? As I said, in ASEAN, some countries are relatively poorer and therefore need to be supported. We're not asking for aid or donations – just for what was initially promised. So I'm very optimistic. Take the ASEAN power grid, for example – what does it mean? It shows the total commitment of these countries to shift from traditional fossil fuels to alternatives. It comes at a major cost, but we've decided that's the direction to go. So I think the commitment isn't just from Malaysia – it includes other countries, from Vietnam to Cambodia, Laos, Thailand, Singapore, Indonesia, the Philippines, and Brunei. We're all covered. Despite facing serious global challenges, BRICS and ASEAN still value cultural exchanges. I know Malaysia is home to the International Women's Association of Malaysia, with members from over thirty countries. What are the main activities of the association? I've heard they organise events celebrating the works of world-renowned writers and poets. Why do you believe such cultural initiatives are important? Have you had the chance to attend any of these events yourself? Well, I do participate when I can. But you see, development and progress aren't purely economic. Of course, economic fundamentals must remain a priority – that's clear. But we're also talking about human development. We're talking about values, about justice, about peace – and these transcend purely economic concerns. To me, the role of women is absolutely pivotal. It's not just about the family – although that in itself is essential. Their involvement in education, the environment, and healthcare is deeply interconnected. We can no longer define their contribution solely in terms of being mothers or caretakers. Of course, that remains fundamental, but we're now also recognising their critical roles in public health, in environmental protection, and in promoting governance that is just and free from corruption.
Barnama
19-05-2025
- Business
- Barnama
Anwar In Russia: Not Anti-West, But Multi Vector Foreign Economic Policy At Work
But to frame this journey in binary terms - East versus West, or Islam versus the liberal order - is both shallow and inaccurate. KUALA LUMPUR, May 19 (Bernama) -- Malaysia's Prime Minister Datuk Seri Anwar Ibrahim's recent trip to Russia, including his stop in Kazan for the Russia–Islamic World: Kazan Forum 2025, has raised questions among critics who misread it as a geopolitical tilt or an implicit affront to the West. In truth, Anwar's outreach to Russia should be seen in its correct frame: as a deliberate, principled effort to enhance regional resilience in a world where the global economic and financial architecture is increasingly fractured. This regional multilateral currency swap arrangement, initially involving the ASEAN+3 countries (China, Japan, and South Korea), is now evolving into a more robust mechanism of financial cooperation. In an interview with TV BRICS, Anwar highlighted one key initiative that reflects this regional focus - the Chiang Mai Initiative. Anwar noted that countries such as Thailand, Indonesia, and China have already begun using local currencies in about 20 per cent of their bilateral trade, amounting to billions of dollars in transactions. This is no small feat in a world still largely dominated by the US dollar. These moves, Anwar stressed, are not designed to dethrone the dollar, but to 'establish some form of reprieve to help mitigate risks and protect our national interests.' In the wake of volatile US monetary policy, unilateral sanctions, and de-dollarisation trends led by the BRICS bloc, regional monetary autonomy is not anti-West - it is pro-stability. Regionalism: The Precursor to Globalisation Anwar's statements point to a larger truth: regionalism has always been the precursor and foundation of globalisation. Before goods, services, and capital flowed across continents, they flowed across borders within regions. Trade, trust, and treaties were first forged between neighbours. The UN Charter's Chapter VIII explicitly recognises regional arrangements as necessary for the maintenance of international peace and security. In Asia, the spirit of regional financial self-help has long been in the air. Proposals such as the Asian Monetary Fund (AMF) and the Asian Currency Unit (ACU) emerged during and after the 1997 Asian Financial Crisis, when countries realised the limitations of relying solely on Bretton Woods institutions like the IMF. Japan floated the idea of the AMF to provide emergency liquidity directly to Asian economies. Though the proposal was quietly shelved under pressure from the US Treasury and IMF, the logic behind it has not faded. Today, as geopolitical fragmentation deepens, the Chiang Mai Initiative Multilateralisation (CMIM) and bilateral currency swaps are steps toward that very vision of financial regionalism—one that is less susceptible to the whims of extra-regional powers. Not Isolationism, But Inclusion Malaysia's diplomacy under Anwar Ibrahim is not about turning inward or isolating from the West. It is about balancing, diversifying, and deepening regional roots, while staying globally engaged. By engaging Russia, Anwar is not condoning all of Moscow's actions; rather, he is asserting ASEAN's right to speak with all powers, not just a select few. As a mature democracy, Malaysia reserves the right to articulate its interests and values on the global stage. The Russia–Islamic World Forum in Kazan is not a tool of confrontation - it is a platform of convergence, one that reflects Malaysia's commitment to intercivilisational dialogue and Islamic solidarity without negating its Western partnerships. Indeed, Malaysia continues to value its strong trade and investment relationships with the US, the European Union, and the UK. But this should not come at the cost of silencing legitimate engagement with China, Russia, Central Asia, or the Gulf Cooperation Council (GCC). In fact, Anwar's visit underscores the need for multi-vector diplomacy, something long embedded in Malaysia's foreign policy tradition dating back to Tun Razak and continued through Mahathir and Abdullah Badawi. Asia as an Anchor in a Post-Global World The world is now shifting from a unipolar, globalisation-driven model to a more regionalised, fragmented order - a phenomenon some scholars have termed 'slowbalisation'. In this climate, regions like ASEAN must rebuild trust and cooperation from the inside out. Energy security, trade finance, digital infrastructure, and semiconductors are no longer merely national issues - they are deeply regional, if not civilisational, in scope. The Chiang Mai Initiative, with its emphasis on currency stability, is one pillar. Others include the Regional Comprehensive Economic Partnership (RCEP), cross-border QR code payment systems, regional green bond markets, and efforts at harmonising digital standards. Together, these build economic sovereignty, not dependency. Anwar's support for such initiatives reflects not nostalgia, but pragmatism. His call for using local currencies in trade is not a revolution; it is a recalibration of Asia's own tools of resilience. Conclusion: Return to First Principles In the face of rising Islamophobia, Sinophobia, trade wars, and technological decoupling, the time has come for Asia to return to first principles - dialogue, respect for sovereignty, mutual benefit, and cooperation. Anwar's engagement in Russia, Central Asia, and the Islamic world is a civilisational choice, not a geopolitical gamble. Malaysia is asserting that the future of the international order lies not in confrontation, but in confluence. In this regard, the Kazan Forum, the Chiang Mai Initiative, and other Asian platforms represent a gentle but firm resistance to economic coercion, and a revival of regional multilateralism at its best. In other words, Anwar's diplomacy is not anti-West. It is pro-Asia, pro-justice, and pro-resilience - values the world needs now more than ever. -- BERNAMA (The views expressed in this article are those of the author(s) and do not reflect the official policy or position of BERNAMA) BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. 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Malaysiakini
18-05-2025
- Business
- Malaysiakini
Anwar: Asean revives plans for regional monetary fund
Asean countries are reviving the idea of creating their own monetary fund, said Prime Minister Anwar Ibrahim. He said there is a need for financial transformation in Asean and the regional group is taking steps in this direction. 'One example is the Chiang Mai Initiative, where central banks in the region...
Malaysiakini
17-05-2025
- Business
- Malaysiakini
Anwar: Asean revives plans for regional monetary fund
Asean countries are reviving the idea of creating their own monetary fund, said Prime Minister Anwar Ibrahim. He said there is a need for financial transformation in Asean and the regional group is taking steps in this direction. 'One example is the Chiang Mai Initiative, where central banks in the region...
