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Business Times
4 days ago
- Business
- Business Times
Malaysia leads Asean summit as region faces tough choices
[KUALA LUMPUR] Malaysia stepped into the spotlight this week as it hosted a flurry of high-stakes diplomatic engagements, with Prime Minister Anwar Ibrahim leading regional efforts to future-proof Asean amid rising global headwinds. The 46th Asean Summit in Kuala Lumpur came at a tense moment, amid rising global rivalries, growing protectionism, and mounting pressure on the bloc to finally act on long-stalled integration plans, all while trying to stay neutral between global superpowers. Held alongside the Asean-Gulf Cooperation Council (GCC) and the inaugural Asean-GCC-China summits, the two-day gathering was a bid to put Asean back on the global map – this time with a long-term game plan rooted in pragmatism. Anwar set the tone at the summit's opening: 'The very foundations of Asean are being tested… From the Myanmar crisis to growing protectionism, we must act together, on our own terms.' Observers say Malaysia's chairmanship has re-energised Asean's often-fragmented diplomacy, offering a rare show of unity and purpose. 'This marks a shift for Asean, which is often perceived as a loose organisation where consensus is hard to achieve,' Dr Liew Wui Chern, a policy analyst and lecturer at Universiti Tunku Abdul Rahman told The Business Times. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'It demonstrates a growing realisation among members of the need for unity amid external uncertainties and a stronger global voice,' he added. All 10 member states jointly called for a ceasefire in Myanmar and made progress in long-stalled negotiations for a Code of Conduct in the South China Sea. That level of agreement, Dr Liew noted, is typically years in the making. Unity on paper – action to come The signing ceremony of the Kuala Lumpur Declaration on 'Asean 2045: Our Shared Future' during the 46th Asean Summit in Kuala Lumpur, on May 26. PHOTO: EPA-EFE At the heart of the summit was the adoption of the Kuala Lumpur Declaration, a foundational blueprint that launches Asean's Community Vision 2045 – a 20-year plan to make the bloc a more assertive global player and one of the world's top four economies by mid-century. The roadmap focuses on political stability, greener growth, better infrastructure, and tighter digital ties – plus a long-overdue push to turn big-picture plans into action. Asean Business Advisory Council chairman Nazir Razak said Malaysia has demonstrated tremendous leadership this year – a time when Asean truly needs it. During a panel discussion at the Asean Business Forum 2025, he highlighted the strong sense of camaraderie among leaders. 'The Prime Minister has cultivated robust bilateral relationships with fellow leaders, and this has been reflected in his chairmanship,' he said. Nazir said the momentum showed up even at the economic ministers' level and stressed that turning plans into action will be the real test for Asean, which hasn't always nailed execution. Business leaders and policymakers have been eager to reaffirm key priorities, especially with recent US tensions in play, he remarked. Laying the groundwork Speaking at the inaugural Asean-GCC-China Summit in Kuala Lumpur, Chinese Premier Li Qiang said: 'By fully connecting our markets, we will unleash powerful development potential.' PHOTO: AFP The summit also saw the endorsement of a five-year action plan aimed at removing regulatory bottlenecks to cross-border trade, improving the mobility of goods, services and talent, and attracting more foreign investment, particularly in sectors such as agriculture, mining and manufacturing. Malaysia, Singapore and Vietnam advanced this ambition further with a tripartite agreement to explore cross-border renewable energy trade. The proposed project involves transmitting offshore wind power from Vietnam to Peninsular Malaysia and Singapore via subsea and overland grids, marking an early win for the Asean Power Grid vision. 'These efforts are part of our broader goal to create a more resilient and sustainable energy supply for the region,' said Singapore's Prime Minister Lawrence Wong in his social media posting. Beyond internal goals, Malaysia also used the summit to position Asean as an attractive partner to external players. At the inaugural Asean-GCC-China Summit, Chinese Premier Li Qiang called for stronger trilateral ties, noting that China, the GCC and Asean collectively represent a quarter of global gross domestic product (GDP). 'By fully connecting our markets, we will unleash powerful development potential,' he said. Talks are also set to begin on a potential Asean-GCC free trade agreement – a move likely to attract investment into logistics, petrochemicals and halal supply chains. Still, some observers tempered expectations. 'I don't expect the summit to result in any significant near-term economic impact for member countries, as most of the discussions were focused on political strategy rather than direct policy outcomes,' said Nazmi Idrus, head of economics (equity research) at CGS International. But the summits held this week have sent a clear signal to the US 'that Asean has a choice to work with other economic blocs and to negotiate with other countries', he remarked. One bloc, many deals That signal comes amid growing unease over recent US tariff threats, which have disrupted regional supply chains and forced Asean states into difficult balancing acts. While Asean has reached internal consensus on collective negotiation with the US, an Asean-wide deal is unlikely, said Dr Oh Ei Sun, a senior fellow at the Singapore Institute of International Affairs. 'In reality, individual Asean countries are separately – and not so discreetly – racing to secure bilateral trade deals with the US, some even offering to reduce their tariffs on American goods to zero in hopes of securing better terms,' he said. Oh argued that Malaysia's chairmanship, while symbolically important, is unlikely to reverse entrenched dynamics within a single year. 'Expecting Kuala Lumpur to unify Asean on trade is like fishing in a tree – it's just not realistic,' he said. Road to October As Asean looks ahead to its next 47th Asean Summit in October, some issues remain outstanding. Questions remain over the full membership of Timor-Leste despite Malaysia and Indonesia's offer to assist in meeting accession requirements. While the country holds observer status, its full integration may still be years away, said observers. Some speculate that Kuala Lumpur may host a historic Asean-US-China trilateral dialogue, though the prospects of US President Donald Trump attending remain slim. Balancing acts Asean faces a tricky balancing act ahead – strengthening ties with China without pushing the US, a key export market, too far away. Speaking at the Asean Business Forum 2025, OCBC chief economist Selena Ling said while the US remains an important market, the region is fundamentally part of the same economic sphere as China. 'There is no decoupling between China and Asean; if anything, multinational corporations are increasingly adopting a strategy of producing in the US for the US market, in China for the Chinese market, and in Asean for the rest of the world,' she added. Still, Ling noted, Asean must tread carefully. 'While deepening ties with China is important, Asean cannot afford to antagonise the US. This highlights the need for a balanced approach in navigating these complex economic relationships,' she said. For Malaysia, it was a test of whether quiet diplomacy still works in a region facing louder challenges – an answer that may only emerge in the months ahead.
New Straits Times
4 days ago
- Business
- New Straits Times
Asean leaders fortify unity amid growing global challenges
KUALA LUMPUR: The 46th Asean Summit, under Malaysia's chairmanship, has reaffirmed the bloc's commitment to navigating an increasingly complex global landscape, championing unity, economic resilience and principled diplomacy. As the curtains closed on the summit, Prime Minister Datuk Seri Anwar Ibrahim underscored the leaders' resolve to confront mounting geopolitical and economic pressures from the humanitarian crisis in Gaza to the intensifying strategic competition between global powers. Anwar emphasised that Asean must act with a collective voice, grounded in multilateralism and inclusive decision-making. Under Malaysia's chairmanship, one of the most notable institutional developments was the reaffirmation that Timor-Leste's accession to Asean is firmly on track, with full membership expected by October. In his closing press conference, Anwar reiterated Malaysia's strong support for Timor-Leste's integration, pledging that the bloc would do "whatever necessary" to facilitate the process under the Asean Foreign Ministers' framework. The summit also addressed the prolonged Myanmar crisis, with Asean leaders agreeing to push for an expanded nationwide ceasefire as a necessary precursor to inclusive political dialogue. Anwar, who recently engaged both Myanmar's junta chief Min Aung Hlaing and the opposition National Unity Government, said Asean remained a neutral platform for trust-building and eventual reconciliation. One of the summit highlights was the adoption of the Kuala Lumpur Declaration on Asean 2025 and Beyond, a long-term strategic framework aimed at reinforcing Asean centrality and enhancing the bloc's role on the global stage. The declaration envisions a more assertive and responsive Asean in addressing regional concerns like the South China Sea and the Myanmar conflict. Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan described the declaration as Malaysia's signal that Asean must evolve to stay relevant. "The two main strategies are to increase Asean's involvement globally and reinforce the centrality concept. "This includes staying neutral, especially in great power rivalries and trade conflicts, and being more proactive in shaping the global discourse," he said. While the KL Declaration outlines a 20-year vision, Azmi believes its key goals are achievable within the next three to four years, depending on the direction set by future Asean chairs. "Even as the Philippines takes over the chairmanship next year, Malaysia wants to remain in the pilot seat," he added. On the economic front, the summit produced a strong regional response to the United States' retaliatory tariffs, which target Asean exports with duties ranging from 10 to 49 per cent. Anwar made it clear that unilateral trade actions threatened global economic stability and undermined Asean's commitment to fair and open trade. He confirmed that the bloc would pursue engagement with Washington through diplomatic channels, favouring cooperation over confrontation. As such, any decisions made in regards to the tariffs should not be made to the detriment of other member countries. In a major diplomatic breakthrough, the summit also hosted the inaugural trilateral meeting between Asean, China and the Gulf Cooperation Council (GCC). This, in itself, was a coup of sorts, as Anwar described the gathering attended by Chinese Premier Li Qiang as a strategic milestone and a testament to Asean's growing convening power. This summit was apart from the Asean-GCC Summit, held for only the second time. Anwar said the spirit of Asean centrality remains critical to regional cooperation. The Asean-GCC-China Summit also saw a united call by Asean, China and the GCC for an immediate and lasting ceasefire in Gaza. It condemned attacks on civilians and demanded full humanitarian access, including the restoration of essential services such as water, electricity, food, fuel and medicine. In his closing press conference, Anwar said the summit represented one of the most substantive milestones in Asean's history. He added that the summit had successfully achieved its objectives, attributing the outcome to the strong support and unity among Asean leaders, as well as the bloc's first meaningful simultaneous engagement with the GCC and China. He also said Malaysia's chairmanship would continue to focus on building a more inclusive, sustainable, and resilient Asean, in line with the bloc's long-term vision.
Barnama
5 days ago
- Business
- Barnama
ASEAN Summit Underscores Malaysia's Strategic Leadership Role, Say Analysts
GENERAL By Muhammad Faiz Baharin KUALA LUMPUR, May 29 (Bernama) -- Malaysia's successful hosting of the 46th ASEAN Summit has enhanced its diplomatic stature, demonstrating strong regional leadership and strategic neutrality while uniting member states to address pressing global and regional challenges, analysts say. Political Science Senior Lecturer at the Faculty of Administrative Science and Policy Studies, Universiti Teknologi MARA (UiTM) Seremban campus, Shahidah Abdul Razak said Malaysia, as ASEAN Chair 2025, had effectively led the regional bloc in addressing both global and regional issues collectively. Among the matters tackled, she said, were the ongoing trade tensions, including tariffs imposed by the United States, which have impacted several ASEAN member states, and the Myanmar crisis, which was brought to the negotiating table in pursuit of a long-term resolution. 'As ASEAN Chair, Malaysia also succeeded in producing the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future – a comprehensive and holistic document in navigating today's uncertain and complex geopolitical landscape. 'We also maintained a neutral image, positioning Malaysia — and ASEAN more broadly — as a regional organisation that does not align with any global power bloc,' she told Bernama. Shahidah said Malaysia also played a key role as a mediator between major powers such as China in discussions related to security, economic and social issues, including tensions in the South China Sea. She said Malaysia's engagement with Arab nations during the summit also reflected the country's respected leadership in tackling global issues, notably the Palestinian cause. 'Malaysia has also elevated ASEAN's influence as a bloc representing small and medium-sized economies, pushing forward trilateral economic agreements with the Gulf Cooperation Council (GCC) and China,' she said.
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
ASEAN Adopts 20-Year Strategic Vision for Sustainable Growth under Kuala Lumpur Declaration
Nada Mustafa Leaders of the Association of Southeast Asian Nations (ASEAN) have formally adopted the Kuala Lumpur Declaration on ASEAN 2045, outlining a comprehensive 20-year roadmap to guide the region's political, economic, social, and connectivity agenda. This is reported by Xinhua News Agency, a partner of TV BRICS. Endorsed at the 46th ASEAN Summit in Kuala Lumpur, the declaration sets the framework for the ASEAN Community Vision 2045, a forward-looking strategy designed to strengthen regional unity, promote inclusive growth, and enhance ASEAN's position as a major global economic force, according to TV BRICS. Malaysian Prime Minister Anwar Ibrahim emphasised that the vision rests on the principles of sustainability, inclusivity, and people-centred development. He noted the importance of closing development gaps, raising living standards, and investing in human potential. The ASEAN Community Vision 2045 is structured around four strategic pillars: political cooperation, economic integration, socio-cultural advancement, and enhanced regional connectivity. In addition to its development goals, the Vision includes measures to strengthen the use of local currencies for cross-border transactions, improve disaster risk financing, and address the impacts of environmental degradation. As ASEAN chair for 2025, Malaysia is hosting the summit series under the theme 'Inclusivity and Sustainability,' reinforcing the group's long-term commitment to regional cooperation. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
The Sun
6 days ago
- Business
- The Sun
ACV 2045 holds potential to boost respect for ASEAN as a strong bloc
KUALA LUMPUR: The ASEAN Community Vision (ACV) 2045, adopted at the 46th ASEAN Summit on Monday through the Kuala Lumpur Declaration, has the potential to make the bloc -- with its nearly 700 million population -- more respected, especially by organisations in the West. Geostrategist and senior fellow at the Nusantara Academy of Strategic Research (NASR) Prof Dr Azmi Hassan said that ACV 2045 is based on two key concepts -- neutrality and centrality -- which will strengthen ASEAN as it advances to become the world's fourth-largest economy by 2030. 'ASEAN is becoming more central, involved in international affairs, while remaining neutral -- not partial toward the United States (US), China, or Russia -- even as the major powers vie to have a greater influence, especially in the Indo-Pacific region. 'Malaysia, as the current ASEAN Chair, wants to ensure that the people of ASEAN feel proud to be part of the bloc, just like how people in the European Union (EU) feel. I believe ACV 2045 can be achieved within the next 20 years,' he told Bernama when contacted. Azmi, who is also a National Council of Professors (MPN) fellow, said ACV 2045 -- a continuation of ACV 2025 that was launched when Malaysia last chaired ASEAN a decade ago -- could resolve not only internal issues such as the Myanmar conflict and the South China Sea dispute, but be used as a guide in dealing with international issues such as the India-Pakistan conflict, Gaza crisis, and the Ukraine war. Meanwhile, MPN chairman Distinguished Prof Datuk Dr Shamsul Amri Baharuddin opined that ACV 2045 is 'more optimistic' despite the presence of longstanding challenges from within and outside the ASEAN region. He said that internally, ASEAN faces the challenge of finding a harmonious solution for what seems like a never-ending problem, namely the Myanmar issue. 'The external challenge is economic in nature, vis-a-vis the threat of the United States (US) tariffs, which ASEAN can confront together by finding economic partners besides the US from all parts of the world. 'Socio-culturally, ASEAN countries have to build a resilient cooperative network, people-to-people, people-centred community, and encourage intra-ASEAN travels and visits,' he said. Commenting on the challenges expected in realising ACV 2045, Dr Nor Aishah Hanifa, an expert in international relations, defense, and security, said that globalisation, changes in the international system, and uncertainty require innovative responses to safeguard the security of ASEAN and its peoples. 'Various challenges are being faced, such as peace and security issues in the Indo-Pacific region due to power struggles, global digitalisation, cybersecurity, artificial intelligence, trade protectionism and sanctions, food, energy and water security, poverty, natural disasters, climate change, and the pandemic. 'This declaration clearly outlines ASEAN's direction and reflects the grouping's maturity in facing global challenges and uncertainties. External relations are also conducted with diplomacy. ASEAN is increasingly seen as vital for the maintenance of security in the region,' she said. Nor Aishah said that under Malaysia's chairmanship and with the key role played by Prime Minister Datuk Seri Anwar Ibrahim, ASEAN is poised to gain more respect as a strong regional bloc. 'ASEAN's voice is recognised globally, with the (recent) visit by Chinese President Xi Jinping demonstrating ASEAN's success in bringing major powers and other countries together regardless of ideology for the sake of shared stability and progress,' she added. Meanwhile, Institute of Malaysian and International Studies (IKMAS) director Prof Dr Sufian Jusoh said that the main challenge is to explain the essence of the new vision to the ASEAN community. 'First, you have to explain to the people, because it is people-centred -- need to explain how they're going to benefit and how to implement. That's the most important,' he said. The ASEAN 2045: Our Shared Future is a compendium of six core documents, include the Kuala Lumpur Declaration, ACV 2045, and strategic plans for each ASEAN pillar -- political-security, economic, socio-cultural, and connectivity. This new vision for ASEAN sets out 33 strategic goals with 531 concrete measures.
