Latest news with #MasturaAhmadMustafa
The Star
6 days ago
- Business
- The Star
‘Talks ongoing amid contingency steps'
PETALING JAYA: Talks with the United States on the proposed tariff increase are still in progress, while the government has begun rolling out contingency measures such as market diversification and economic reforms, according to Malaysia's chief negotiator, Mastura Ahmad Mustafa. She said the government is actively engaging US counterparts to seek a mutually acceptable outcome. 'It's difficult to say at this point whether we can conclude an agreement before the deadline,' Mastura, who is also the Investment, Trade and Industry Ministry's (Miti) deputy secretary-general (trade), told The Star. At the same time, she said, negotiations with the United States are only one part of Malaysia's broader strategy to cushion the potential impact on exporters. 'With regard to the contingency plan, as has been stated on numerous occasions, engagement with the United States is not the sole measure that the government is taking to mitigate the impact. 'The government is also looking to diversify export markets and strengthen trade partnerships under Asean, the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), the RCEP (Regional Comprehensive Economic Partnership) and other free trade agreements. 'Additionally, it aims to implement reforms to enhance national productivity and competitiveness,' the chief negotiator stated. She added that efforts are also underway to design targeted support measures for local industry players, particularly small and medium enterprises (SMEs), to help them navigate potential disruptions and reduce over-reliance on a single market. 'These combined steps are aimed at strengthening the resilience of Malaysia's export sector and positioning the country for more sustainable, long-term growth amid an increasingly challenging global trade environment,' she said. The United States has announced a 24% tariff on most Malaysian goods, along with a range of duties affecting around 60 countries. However, the tariffs have been suspended for 90 days to allow for trade negotiations. Previously, Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz said the United States had made four key demands to Malaysia in the ongoing tariff negotiations, aimed at reaching a mutually beneficial outcome. The priorities focus on non-tariff barriers, addressing the trade deficit, safeguarding US technology and encouraging investment in American industries. Following a market revolt after his major tariff announcement on April 2, US President Donald Trump paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners.
The Sun
25-05-2025
- Business
- The Sun
ASEAN senior economic officials discuss AEC Blueprint 2025 outcome, look at plan for next 5 years
KUALA LUMPUR: Progress and outcome of initiatives in the ASEAN Economic Community (AEC) Blueprint 2025 were among the main discussion points during the Preparatory Senior Economic Officials (Prep-SEOM) Meeting for the 25th ASEAN Economic Community Council (AECC). Apart from discussing the current state of Timor-Leste's accession to ASEAN today, the senior economic officials also deliberated on the AEC Strategic Plan 2026-2030 under the ASEAN Community Vision 2045, which is set to be launched and adopted by the ASEAN leaders on Monday. The meeting also discussed regional economic performance and the effects of recent shifts in global economic policies by major economies, as well as strategies to address the impact of these shifts on ASEAN. Additionally, discussions focused on opportunities to leverage growth ahead of the 25th AECC Meeting, scheduled to be held tomorrow. The AECC Meeting is anticipated to endorse several report and outcome documents for adoption at the 46th ASEAN Summit. It will also provide guidance and details on the current situation faced by the Economic Pillar. Today's meeting discussed the current regional economic performance and the implications of recent shifts in global economic policies by major economies. Deliberations focused on ASEAN's strategic responses to mitigate the impact of these shifts while identifying opportunities to leverage economic growth. Chaired by Malaysia's Investment, Trade and Industry Ministry Deputy Secretary-General (Trade) Mastura Ahmad Mustafa, the meeting was attended by ASEAN Deputy Secretary-General for the ASEAN Economic Community Satvinder Singh and Brunei's Finance and economy Ministry Permanent Secretary (Economy, Trade and Industry) Dr May Fa'ezah Ahmad Ariffin. Other representatives who attended the meeting physically included Long Kemvichet (Cambodia), Nugraheni Prasetya Hastuti (Indonesia), Seng Alune Vilaysack (Laos), Marie Sherylyn D. Aquia (Philippines) Alpana Roy (Singapore), Chotima Lemsawasdikul (Thailand), Nguyen Viet Chi (Vietnam) and Augusto Junior Trindade (Timor-Leste). The representative from Myanmar, Dr Marlar Myo Nyunt, attended the session virtually. The 46th ASEAN Summit will be held at the Kuala Lumpur Convention Centre on May 26 and 27, and two key high-level meetings will be held concurrently, namely the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and inaugural ASEAN-GCC-China Summit. The Summit will bring together leaders from ASEAN member states to discuss regional issues and chart the future direction of ASEAN cooperation. 'Inclusivity and Sustainability' is the theme for Malaysia's ASEAN Chairmanship 2025.
The Sun
25-05-2025
- Business
- The Sun
ASEAN economic officials discuss AEC Blueprint 2025 outcome
KUALA LUMPUR: Progress and outcome of initiatives in the ASEAN Economic Community (AEC) Blueprint 2025 were among the main discussion points during the Preparatory Senior Economic Officials (Prep-SEOM) Meeting for the 25th ASEAN Economic Community Council (AECC). Apart from discussing the current state of Timor-Leste's accession to ASEAN today, the senior economic officials also deliberated on the AEC Strategic Plan 2026-2030 under the ASEAN Community Vision 2045, which is set to be launched and adopted by the ASEAN leaders on Monday. The meeting also discussed regional economic performance and the effects of recent shifts in global economic policies by major economies, as well as strategies to address the impact of these shifts on ASEAN. Additionally, discussions focused on opportunities to leverage growth ahead of the 25th AECC Meeting, scheduled to be held tomorrow. The AECC Meeting is anticipated to endorse several report and outcome documents for adoption at the 46th ASEAN Summit. It will also provide guidance and details on the current situation faced by the Economic Pillar. Today's meeting discussed the current regional economic performance and the implications of recent shifts in global economic policies by major economies. Deliberations focused on ASEAN's strategic responses to mitigate the impact of these shifts while identifying opportunities to leverage economic growth. Chaired by Malaysia's Investment, Trade and Industry Ministry Deputy Secretary-General (Trade) Mastura Ahmad Mustafa, the meeting was attended by ASEAN Deputy Secretary-General for the ASEAN Economic Community Satvinder Singh and Brunei's Finance and economy Ministry Permanent Secretary (Economy, Trade and Industry) Dr May Fa'ezah Ahmad Ariffin. Other representatives who attended the meeting physically included Long Kemvichet (Cambodia), Nugraheni Prasetya Hastuti (Indonesia), Seng Alune Vilaysack (Laos), Marie Sherylyn D. Aquia (Philippines) Alpana Roy (Singapore), Chotima Lemsawasdikul (Thailand), Nguyen Viet Chi (Vietnam) and Augusto Junior Trindade (Timor-Leste). The representative from Myanmar, Dr Marlar Myo Nyunt, attended the session virtually. The 46th ASEAN Summit will be held at the Kuala Lumpur Convention Centre on May 26 and 27, and two key high-level meetings will be held concurrently, namely the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and inaugural ASEAN-GCC-China Summit. The Summit will bring together leaders from ASEAN member states to discuss regional issues and chart the future direction of ASEAN cooperation. 'Inclusivity and Sustainability' is the theme for Malaysia's ASEAN Chairmanship 2025.
The Star
24-05-2025
- Business
- The Star
Senior Asean economic officials discuss AEC Blueprint 2025 outcome, plan for next 5 years
KUALA LUMPUR: Progress and outcomes of initiatives in the Asean Economic Community (AEC) Blueprint 2025 were among the main discussion points during the Preparatory Senior Economic Officials (Prep-SEOM) Meeting for the 25th Asean Economic Community Council (AECC). Apart from discussing the current state of Timor-Leste's accession to Asean on Saturday (May 24), the senior economic officials deliberated on the AEC Strategic Plan 2026-2030 under the Asean Community Vision 2045, which is set to be launched and adopted by Asean leaders on Monday (May 26). The meeting also addressed regional economic performance and the effects of recent shifts in global economic policies by major economies, along with strategies to mitigate the impact of these shifts on Asean. Additionally, discussions focused on opportunities to leverage growth ahead of the 25th AECC Meeting, scheduled to be held on Sunday (May 25). The AECC Meeting is anticipated to endorse several report and outcome documents for adoption at the 46th Asean Summit. It will also provide guidance and details on the current situation faced by the Economic Pillar. Saturday's meeting examined the current regional economic performance and the implications of recent shifts in global economic policies by major economies. Deliberations focused on Asean's strategic responses to mitigate the impact of these shifts while identifying opportunities to leverage economic growth. Chaired by Malaysia's Investment, Trade and Industry Ministry deputy secretary-general (trade) Mastura Ahmad Mustafa, the meeting was attended by Asean deputy secretary-general for the Asean Economic Community Satvinder Singh and Brunei's Finance and Economy Ministry permanent secretary (economy, trade and industry) Dr May Fa'ezah Ahmad Ariffin. Other representatives who attended the meeting physically included Long Kemvichet (Cambodia), Nugraheni Prasetya Hastuti (Indonesia), Seng Alune Vilaysack (Laos), Marie Sherylyn D. Aquia (Philippines), Alpana Roy (Singapore), Chotima Lemsawasdikul (Thailand), Nguyen Viet Chi (Vietnam), and Augusto Junior Trindade (Timor-Leste). The representative from Myanmar, Dr Marlar Myo Nyunt, attended the session virtually. The 46th Asean Summit will be held at the Kuala Lumpur Convention Centre on May 26 and 27, hosting two key high-level meetings concurrently: the 2nd Asean-Gulf Cooperation Council (GCC) Summit and the inaugural Asean-GCC-China Summit. The Summit will gather leaders from Asean member states to discuss regional issues and chart the future direction of Asean cooperation. "Inclusivity and Sustainability" is the theme for Malaysia's Asean Chairmanship 2025. – Bernama
Barnama
24-05-2025
- Business
- Barnama
ASEAN Senior Economic Officials Discuss AEC Blueprint 2025 Outcome, Look At Plan For Next 5 Years
KUALA LUMPUR, May 24 (Bernama) -- Progress and outcome of initiatives in the ASEAN Economic Community (AEC) Blueprint 2025 were among the main discussion points during the Preparatory Senior Economic Officials (Prep-SEOM) Meeting for the 25th ASEAN Economic Community Council (AECC). Apart from discussing the current state of Timor-Leste's accession to ASEAN today, the senior economic officials also deliberated on the AEC Strategic Plan 2026-2030 under the ASEAN Community Vision 2045, which is set to be launched and adopted by the ASEAN leaders on Monday. The meeting also discussed regional economic performance and the effects of recent shifts in global economic policies by major economies, as well as strategies to address the impact of these shifts on ASEAN. Additionally, discussions focused on opportunities to leverage growth ahead of the 25th AECC Meeting, scheduled to be held tomorrow. The AECC Meeting is anticipated to endorse several report and outcome documents for adoption at the 46th ASEAN Summit. It will also provide guidance and details on the current situation faced by the Economic Pillar. Today's meeting discussed the current regional economic performance and the implications of recent shifts in global economic policies by major economies. Deliberations focused on ASEAN's strategic responses to mitigate the impact of these shifts while identifying opportunities to leverage economic growth. Chaired by Malaysia's Investment, Trade and Industry Ministry Deputy Secretary-General (Trade) Mastura Ahmad Mustafa, the meeting was attended by ASEAN Deputy Secretary-General for the ASEAN Economic Community Satvinder Singh and Brunei's Finance and economy Ministry Permanent Secretary (Economy, Trade and Industry) Dr May Fa'ezah Ahmad Ariffin. Other representatives who attended the meeting physically included Long Kemvichet (Cambodia), Nugraheni Prasetya Hastuti (Indonesia), Seng Alune Vilaysack (Laos), Marie Sherylyn D. Aquia (Philippines) Alpana Roy (Singapore), Chotima Lemsawasdikul (Thailand), Nguyen Viet Chi (Vietnam) and Augusto Junior Trindade (Timor-Leste). The representative from Myanmar, Dr Marlar Myo Nyunt, attended the session virtually.
