Latest news with #FatinUmairahAbdulHamid
Barnama
27-05-2025
- Business
- Barnama
ASEAN, GCC And China Present Vast Collaborative Potential With Combined US$24.87 Trillion GDP
GENERAL By Nurul Hanis Izmir and Fatin Umairah Abdul Hamid KUALA LUMPUR, May 27 (Bernama) -- ASEAN, the Gulf Cooperation Council (GCC) countries and China together represent a combined gross domestic product (GDP) of US$24.87 trillion (US$1=RM4.21) and a population of about 2.15 billion, offering vast opportunities to synergise markets, deepen innovation, and promote cross-regional investment, Prime Minister Datuk Seri Anwar Ibrahim said today. 'For the first time, ASEAN, the GCC, and China come together in this unique configuration – three partners, each rich in history, civilisation, culture, and shared aspirations, gather to open a new chapter of dialogue and cooperation,' he said in his opening remarks at the inaugural ASEAN-GCC-China Summit themed 'Synergising Economic Opportunities Towards Shared Prosperity.' Also present were Kuwait's Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, who is also the president of the current session of the Supreme Council of the GCC; China's Premier Li Qiang; Malaysia's Foreign Minister Datuk Seri Mohamad Hasan; and Malaysia's Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz. In 2023, ASEAN's GDP reached US$3.8 trillion, making it the world's fifth-largest economy. That same year, total trade with the GCC stood at US$130.7 billion, with foreign direct investment (FDI) inflows of US$390.2 million. China, meanwhile, remained ASEAN's largest trading partner with US$696.7 billion in trade and US$17.3 billion in FDI, which indicate immense existing linkages as well as substantial untapped potential. 'I hope this summit will stand as a new chapter in ASEAN's journey of outward-looking engagement, demonstrating what can be achieved when partners work together in mutual respect and shared purpose,' said Anwar, who is also the Finance Minister. He expressed confidence that ASEAN, the GCC, and China can draw upon respective unique attributes, and shape a future that is more connected, more resilient, and more prosperous for generations to come.
Barnama
26-05-2025
- Business
- Barnama
ASEAN Leaders Respond Positively To ASEAN-BAC's 12 Priority Economic Deliverables
GENERAL By Karina Imran and Fatin Umairah Abdul Hamid KUALA LUMPUR, May 26 (Bernama) -- Southeast Asian leaders have responded positively to the ASEAN Business Advisory Council's (ABAC) 12 priority economic deliverables (PEDs) aimed at deepening regional integration. ASEAN-BAC Malaysia chairman Tan Sri Nazir Razak said the PEDs are key economic initiatives designed to boost regional growth and integration, particularly under the ASEAN Economic Community (AEC) pillar. Among efforts to deepen economic integration include promoting inclusive growth, advancing sustainability and expanding the digital economy. 'These projects are going to take time as the officials will have to go through the policy implications and policy changes,' he told the media after the ASEAN leaders' interface with ASEAN-BAC representatives here today. Among other PED initiatives are the flagship ASEAN Business Entity (ABE) and the ASEAN Initial Public Offering (IPO) prospectus. Nazir said that ASEAN businesses should strengthen collaboration and seize opportunities within the regional bloc amid global economic uncertainty. The public and private sectors across ASEAN, as a region, must work together to capitalise on emerging prospects, he said. 'We all have to work together because we can do a lot more. Certainly, we take heed of what the government and the leaders are saying, and we want to do it.
Barnama
26-05-2025
- Business
- Barnama
ASEAN Businesses Told To Strengthen Collaboration Amid Global Uncertainty
By Karina Imran & Fatin Umairah Abdul Hamid KUALA LUMPUR, May 26 (Bernama) -- ASEAN businesses should strengthen collaboration and seize opportunities within the regional bloc amid global economic uncertainty, said ASEAN Business Advisory Council (ASEAN-BAC) Malaysia chairman Tan Sri Nazir Razak. The public and private sectors across ASEAN, as a region, must work together to capitalise on emerging prospects, he said. 'We all have to work together because we can do a lot more. Certainly, we take heed of what the government and the leaders are saying, and we want to do it. 'Of course, there are certain policy changes that would be helpful to us and that's what we're pushing for,' he told the media after the ASEAN leaders' interface with ASEAN-BAC representatives here today. The interface was held in conjunction with the 46th ASEAN Summit. Commenting on the interactions with the ASEAN leaders, Nazir said ASEAN-BAC has received positive responses from the member states on the 12 Priority Economic Deliverables (PEDs). 'These projects are going to take time because even if the leaders welcome the projects, the officials will have to go through the policy implications and policy changes,' he said. The PEDs are key economic initiatives designed to boost regional growth and integration, particularly under the ASEAN Economic Community (AEC) pillar.
Barnama
25-05-2025
- Politics
- Barnama
Anwar As ASEAN Chairman Commended For Initiating Dialogue With Separate Groups In Myanmar Conflict
GENERAL By Fatin Umairah Abdul Hamid KUALA LUMPUR, May 25 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim has been commended as Chairman of ASEAN 2025 for his efforts in initiating dialogues with warring parties in Myanmar and looking for ways to resolve the protracted conflict. To this end, Counter Risk Consultancy Malaysia Sdn Bhd managing partner Peter Nicoll said Anwar has initiated separate dialogues with both the military junta and National Unity Government (NUG), which is indicative of 'a move towards perhaps more proactive engagement to resolve the conflict'. 'Additionally, ASEAN plans to dedicate upcoming meetings solely to the Myanmar conflict itself, sort of trying to revitalise the stalled peace process,' he said. This was already evident at the ongoing 46th ASEAN Summit chaired by Malaysia here whereby a separate meeting was held yesterday between Myanmar's senior officials and three countries - Laos, the previous host for ASEAN; Malaysia, the current host; and the Philippines, the host next year. 'So while ASEAN's initial approach has not yet yielded the desired outcome, recent initiatives may well signal a willingness to adopt more assertive and inclusive strategies to address the ongoing crisis in Myanmar,' he said during a special talk show on ASEAN aired over Bernama TV and hosted by Jessy Chahal. Meanwhile, Head of School and Associate Professor in the School of Politics at University of Nottingham Malaysia, Dr Benjamin Robin Barton, said that it is natural to be pessimistic about Myanmar. This is because up until now, there hasn't been a breakthrough and it was a very complex situation given that there are the junta and other groups which don't speak with the same voice. Nicoll said that Malaysia's Chairmanship theme 'Inclusivity and Sustainability', which was adopted for this year's ASEAN Summit, presents both an opportunity and a challenge in the context of the ongoing political crisis in Myanmar.
Barnama
25-05-2025
- Politics
- Barnama
ASEAN Ministerial Meetings Endorse Vision 2045 Report Ahead Of 46th Summit -- Wisma Putra
GENERAL By Fatin Umairah Abdul Hamid KUALA LUMPUR, May 25 (Bernama) -- Ministerial meetings in preparation for the 46th ASEAN Summit have endorsed the Final Report of the High-Level Task Force on ASEAN Community Vision 2045 and agreed to submit the Vision document for adoption by ASEAN Leaders, said the Foreign Ministry. In a statement today, Wisma Putra said the 36th ASEAN Coordinating Council (ACC) Meeting, chaired by Foreign Minister Datuk Seri Mohamad Hasan, also noted five substantive reports and endorsed six reports for submission to the leaders. It said these reports underscore the wide-ranging work undertaken across ASEAN's three community pillars. 'The Meeting provided an important platform to review ASEAN's progress under ASEAN 2025 vision and align priorities towards 'ASEAN 2045: Our Shared Future'. 'The Meeting also discuss status of reports for submission to the Summit and Timor-Leste's progress toward full ASEAN membership,' Wisma Putra said in a post on X. The ministry said the Kuala Lumpur Declaration on ASEAN 2045, to be signed by ASEAN Leaders on May 26, 2025, will mark a strategic milestone that will guide the region's next phase of community-building and regional leadership. Meanwhile, Mohamad expressed appreciation to all Member States, the co-chairs of the High-Level Task Force on ASEAN Community Vision (HLTF-ACV), and the ASEAN Secretariat for their contributions. -- BERNAMA
