Latest news with #KarinaImran
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
- Business
- Barnama
Malaysia Hopes Upgraded ATIGA Will Further Liberalise Southeast Asia's Financial Services Sector
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz speaks to the Malaysian National News Agency (BERNAMA) during the 46th ASEAN Summit at the Kuala Lumpur Convention Centre (KLCC) today. -- fotoBERNAMA (2025) COPYRIGHT RESERVED By Karina Imran KUALA LUMPUR, May 25 (Bernama) -- Malaysia is hopeful the upgraded ASEAN Trade in Goods Agreement (ATIGA) will help to liberalise further the region's financial services sector, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said. The enhanced agreement, which is expected to be signed in October this year, will go beyond trade in goods to include critical services sectors such as energy, communications and financial services, he told Bernama here today in an exclusive interview. 'These sectors are all, understandably, (where) each country will have its position when it comes to investments in strategic sectors,' he said. He said non-tariff barriers (NTBs), particularly in financial services and banking, continue to impede trade within ASEAN. 'In trade, more or less, we have liberalised already, but investment in strategic sectors will take flexibility for ASEAN countries to understand each other's position, especially when most countries also have to think of their strategic national interests,' he said. In addition, Tengku Zafrul said the ASEAN Digital Economy Framework Agreement (DEFA), which is expected to be concluded by the end of 2025, will be a more inclusive trade ecosystem. 'Intra-ASEAN trade is at 20 per cent to 24 per cent. I don't believe that we can't do more. That's why the upgraded ATIGA is important and we also have the DEFA that we want to conclude, which will be more inclusive,' he said. As for NTBs in ASEAN, there are always countries that put in their positions when it comes to protecting their markets and industries, and financial services are one of them.
Barnama
25-05-2025
- Business
- Barnama
Tengku Zafrul Confirms Malaysia-GCC FTA Talks To Start Soon
Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Aziz speaks at a press conference after the conclusion of the ASEAN Economic Community Council meeting today. The meeting was held on the sidelines of the 46th ASEAN Summit at the Kuala Lumpur Convention Centre. -- fotoBERNAMA (2025) COPYRIGHT RESERVED By Karina Imran KUALA LUMPUR, May 25 (Bernama) -- Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz today confirmed a Bernama report that Malaysia and oil-rich Gulf Cooperation Council (GCC) countries will sign a Free Trade Agreement (FTA) soon. Tengku Zafrul said today that both parties are working on arrangements for the official launch of the FTA negotiations and that a joint declaration of intent is expected to be announced soon. Bernama yesterday reported that negotiations for a FTA between Malaysia-GCC countries are expected to start on May 27, 2025. The minister said that during his visit to the GCC office in Saudi Arabia last week, he had talked to the Secretary General of GCC (Jasem Mohamed AlBudaiwi) 'about trying to make sure that we put this on the fast track and complete this within one year.' Malaysia has experience dealing with one of the GCC countries in forging an FTA. 'We just completed our Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE), for example, and that was done in a record 10 months. 'So, this is a chance for us to continue with GCC as a whole, so that we can expand our trade and investment between Malaysia and GCC,' he said. GCC, established by an agreement concluded on May 25, 1981, is a regional political and economic alliance whose member states include Saudi Arabia, UAE, Qatar, Oman, Kuwait and Bahrain.
