Latest news with #Indonesia-Malaysia-ThailandGrowthTriangle
The Sun
27-05-2025
- Business
- The Sun
16th IMT-GT Summit: Leaders reaffirm push for integrated trade, investment
KUALA LUMPUR: Malaysia, Indonesia and Thailand today reaffirmed their collective commitment to advancing integrated subregional trade and production networks by streamlining trade facilitation and boosting investment across the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT). One of the commitment was the signing of the Framework of Cooperation (FoC) in Customs, Immigration and Quarantine Procedures (CIQ), marking a key step towards facilitating cross-border movement of goods and people in the subregion. 'We reaffirm the commitment to advancing integrated subregional trade and production networks by streamlining trade facilitation and promoting investment. 'We welcome the signing of the FoC in CIQ and look forward to its implementation to facilitate cross-border movement of goods and people in the subregion,' according to a joint statement released after the 16th IMT-GT Summit, here today. Chaired by Prime Minister Datuk Seri Anwar Ibrahim, the summit emphasised the importance of strengthening collaboration between the IMT-GT Working Group on Trade and Investment Facilitation (WGTI), private sector players and local governments. Earlier, the framework was signed by Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto, Malaysia's Minister of Economy Datuk Seri Rafizi Ramli and Thailand's Deputy Minister of Finance Julapun Amornvivat, at the same venue, today. According to the statement, the significant growth in subregional trade, which increased from US$367.9 billion in 2019 to US$659.7 billion in 2023, demonstrated the robust and dynamic economic activity within the subregion. 'Similarly, total investment saw a substantial rise, growing from US$25.1 billion to US$48.1 billion over the same period, surpassing pre-pandemic figures. 'This progress reflects the resilience of the subregional economy, validating our strong commitment in advancing economic recovery through cooperation,' it said. Also present at the summit were Thai Prime Minister Paetongtarn Shinawatra, ASEAN secretary-general Dr Kao Kim Hourn, Asian Development Bank president Masato Kanda, as well as Hararto and Rafizi, who took part in the signing ceremony earlier.
The Sun
27-05-2025
- Business
- The Sun
IMT-GT leaders commit to boost trade and investment integration
KUALA LUMPUR: Malaysia, Indonesia and Thailand today reaffirmed their collective commitment to advancing integrated subregional trade and production networks by streamlining trade facilitation and boosting investment across the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT). One of the commitment was the signing of the Framework of Cooperation (FoC) in Customs, Immigration and Quarantine Procedures (CIQ), marking a key step towards facilitating cross-border movement of goods and people in the subregion. 'We reaffirm the commitment to advancing integrated subregional trade and production networks by streamlining trade facilitation and promoting investment. 'We welcome the signing of the FoC in CIQ and look forward to its implementation to facilitate cross-border movement of goods and people in the subregion,' according to a joint statement released after the 16th IMT-GT Summit, here today. Chaired by Prime Minister Datuk Seri Anwar Ibrahim, the summit emphasised the importance of strengthening collaboration between the IMT-GT Working Group on Trade and Investment Facilitation (WGTI), private sector players and local governments. Earlier, the framework was signed by Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto, Malaysia's Minister of Economy Datuk Seri Rafizi Ramli and Thailand's Deputy Minister of Finance Julapun Amornvivat, at the same venue, today. According to the statement, the significant growth in subregional trade, which increased from US$367.9 billion in 2019 to US$659.7 billion in 2023, demonstrated the robust and dynamic economic activity within the subregion. 'Similarly, total investment saw a substantial rise, growing from US$25.1 billion to US$48.1 billion over the same period, surpassing pre-pandemic figures. 'This progress reflects the resilience of the subregional economy, validating our strong commitment in advancing economic recovery through cooperation,' it said. Also present at the summit were Thai Prime Minister Paetongtarn Shinawatra, ASEAN secretary-general Dr Kao Kim Hourn, Asian Development Bank president Masato Kanda, as well as Hararto and Rafizi, who took part in the signing ceremony earlier.
Malaysian Reserve
27-05-2025
- Business
- Malaysian Reserve
Malaysia, Indonesia, Thailand commit to US$39b in infrastructure projects
By HIDAYATH HISHAM MALAYSIA, Indonesia and Thailand have announced US$39 billion (RM165.3 billion) worth of infrastructure and physical connectivity projects under the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT), aimed at driving regional development. Prime Minister Datuk Seri Anwar Ibrahim said the large-scale investments reflect a shared commitment by the three countries to deliver inclusive and sustainable economic transformation. 'Infrastructure, with US$39 billion worth of physical and connectivity projects across our three countries,' he said during the 16th IMT-GT Summit at the Kuala Lumpur Convention Centre (KLCC) on May 27. The initiative focuses on cross-border development in sectors such as tourism, halal products, agro-industry and micro, small and medium enterprises (MSMEs). Anwar added that climate change remains a core concern, as it continues to affect the livelihoods and well-being of communities across the subregion. He also thanked Thailand for taking swift steps to approve key border projects, including the Rantau Panjang crossing and the Golok River bridge, which are now progressing smoothly. Earlier in the session, the three countries signed the IMT-GT Framework of Cooperation on Customs, Immigration and Quarantine (FOC CIQ). The agreement was signed by Economy Minister Datuk Seri Rafizi Ramli, Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto, and Thailand's Deputy Finance Minister Julapan Amornvivat.
The Star
27-05-2025
- Business
- The Star
IMT-GT advancing with over RM165bil in projects, says Anwar
KUALA LUMPUR: The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) is advancing with US$39bil (RM165.32bil) in infrastructure and connectivity projects, says Datuk Seri Anwar Ibrahim. The Prime Minister stated that leaders are also committed to enhancing economic transformation, climate resilience, and cross-border development. Anwar, who chaired the 16th IMT-GT Summit, said the focus would be on strengthening micro, small, and medium enterprises (MSMEs), tourism, halal sectors, agro-industries, and improving cross-border linkages. 'We are grateful to Thailand, especially for the swift action in clearing several border projects, including the Rantau Panjang-Sungai Golok bridge. These developments are moving well,' he said. Anwar emphasised the urgent need to address climate change, which he noted has already impacted lives and livelihoods in the sub-region. He thanked the ministers for their groundwork in preparing the summit discussions. Anwar also congratulated Masato Kanda on his appointment as President of the Asian Development Bank (ADB), welcoming continued support under his leadership. Also present were Thailand's Prime Minister Paetongtarn Shinawatra and Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto. The summit included a presentation by Economy Minister Datuk Seri Rafizi Ramli on enhancing sub-regional cooperation to address global challenges. Earlier, a signing ceremony for the IMT-GT Framework of Cooperation in Customs, Immigration, and Quarantine (FOC CIQ) was held. This marks a significant step forward in regional integration. The agreement underscores a shared commitment to seamless connectivity, improved trade flows, and more efficient cross-border travel. The framework was signed by Economy Minister Datuk Seri Rafizi Ramli, Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto, and Thailand's Deputy Finance Minister Julapan Amornvivat.
Barnama
27-05-2025
- Business
- Barnama
Malaysia, Indonesia And Thailand Ink CIQ Cooperation Framework
KUALA LUMPUR, May 27 (Bernama) -- Malaysia, Indonesia and Thailand today signed the Framework of Cooperation (FoC) in Customs, Immigration and Quarantine (CIQ) under the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT), on the sidelines of the 46th ASEAN Summit here. The framework was signed by Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto, Malaysia's Minister of Economy Datuk Seri Rafizi Ramli and Thailand's Deputy Minister of Finance Julapun Amornvivat. The FoC aims to strengthen CIQ cooperation by promoting more efficient and business-friendly formalities in implementing rules, regulations and procedures for the seamless movement of goods and people across borders.
