Latest news with #NurulHanisIzmir
Barnama
27-05-2025
- Business
- Barnama
ASEAN Members To Monitor Trade Diversion Risk, Engage Constructively With Partners Amid Global Uncertainty
GENERAL Prime Minister Datuk Seri Anwar Ibrahim is seen alongside ASEAN, Gulf, and Chinese leaders during the 2nd ASEAN-Gulf Cooperation Council (GCC)-China Summit, held in conjunction with the 46th ASEAN Summit and Related Summits at the Kuala Lumpur Convention Centre. -- fotoBERNAMA (2025) COPYRIGHT RESERVED By Nurul Hanis Izmir KUALA LUMPUR, May 27 (Bernama) -- ASEAN leaders, in a united response to rising global economic and trade uncertainties, have directed relevant officials to monitor the risk of trade diversion and engage constructively with partners through established platforms. According to the ASEAN Leaders' Statement released at the conclusion of the 46th ASEAN Summit, member states reaffirmed their commitment to resolving trade issues through peaceful, consultative dialogue grounded in mutual respect and international law, consistent with the Treaty of Amity and Cooperation in Southeast Asia. 'To this end, we reaffirm ASEAN's commitment towards regional unity, economic stability and practical cooperation in navigating external challenges,' the statement said. Gathering in Kuala Lumpur on May 26, 2025, ASEAN leaders acknowledged the escalation of unilateral actions such as tariffs and trade restrictions, and the increasing risk of global economic fragmentation. They stressed the bloc's strongest resolve to safeguard regional economic stability, resilience and long-term growth, while calling out the counterproductive nature of retaliatory trade actions that could further impact ASEAN economies. In a joint call to action, ASEAN leaders outlined a series of commitments, starting with strengthening ASEAN's internal trade and investment. These efforts include fast-tracking key initiatives such as the ASEAN Digital Economy Framework Agreement (DEFA) and the upgrade of the ASEAN Trade in Goods Agreement (ATIGA), aimed at boosting business certainty and competitiveness. The bloc also committed to modernising ASEAN Plus One Free Trade Agreements (FTAs) and the Regional Comprehensive Economic Partnership (RCEP), while intensifying economic cooperation with existing and new partners. This includes region-to-region linkages such as with the Gulf Cooperation Council (GCC).
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
- Politics
- Barnama
Prabowo: Asean Needs Greater Unity To Face Global Uncertainty
GENERAL By Nurul Hanis Izmir KUALA LUMPUR, May 26 (Bernama) -- Indonesian President Prabowo Subianto has emphasised the need for ASEAN to become a stronger and more united regional bloc in facing the current global uncertainties. He also called on all member states to strengthen regional cooperation. 'ASEAN must be stronger, more solid. The situation is uncertain, so we must work together more effectively,' he told a local television station after attending the signing ceremony of the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, held at the Kuala Lumpur Convention Centre (KLCC) here today. This marks Prabowo's first appearance as head of state at the regional gathering since taking office as President of Indonesia in October last year. Earlier, Prime Minister Datuk Seri Anwar Ibrahim described the signing of the Kuala Lumpur Declaration as a pivotal moment in the integration journey of the region. The Prime Minister said ASEAN's future must be based on 'the principles of sustainability and inclusivity', and that regional integration must be genuinely people-centred. The declaration, endorsed during the 46th ASEAN Summit, reflects ASEAN's strong commitment to building a more resilient, innovative, dynamic, and people-oriented regional community by 2045. The new vision will replace the ASEAN 2025 vision, which has been in place since 2015.
Barnama
26-05-2025
- Business
- Barnama
KL Declaration, ASEAN Community Vision 2045 Mark New Chapter For Southeast Asia - ASEAN Sec-Gen
By Nurul Hanis Izmir KUALA LUMPUR, May 26 (Bernama) -- The Kuala Lumpur Declaration and the ASEAN Community Vision 2045 (ACV 2045) signed and adopted by the ASEAN leaders today mark a bold new chapter for the regional bloc as it embraces long-term strategic planning that is vital in dealing with rising global uncertainty, ASEAN Secretary-General Dr Kao Kim Hourn said. He said the Kuala Lumpur Declaration and ACV 2045 collectively represent the first-ever 20-year vision adopted by ASEAN leaders - the ASEAN 2045: Our Shared Future - a significant departure from previous shorter-term frameworks. 'There is a major difference in the sense that the first phase (of the previous vision) was initiated by Malaysia. And this time again, Malaysia has been in the works from the very beginning as the co-chair and until the country has been leading the whole process,' he told Bernama on the sidelines of the 46th ASEAN Summit here. Calling the ACV 2045 'very bold' and 'strategic', Kao also said that the long-term vision was indeed timely as it comes at a time of global disruptions, including political and security dynamics, the aftermath of the COVID-19 pandemic and the escalating climate crisis. He also praised Malaysia's chairmanship this year, describing it as being 'very dynamic and strategic,' hence reflecting the theme of 'Inclusivity and Sustainability'. Backed by four strategic plans, he said ACV 2045 will shape ASEAN's priorities over the next two decades, a step forward in the bloc's commitment to being more transparent, open and inclusive. 'This Kuala Lumpur Declaration, along with the ASEAN Community Vision 2045, is what Malaysia is doing now and a new chapter for ASEAN,' he said. Echoing the sentiment, Senior Fellow at the Singapore Institute of International Affairs, Dr Oh Ei Sun, said ACV 2045 introduces 17 new elements that reflect ASEAN's evolving socio-economic landscape.
Barnama
25-05-2025
- Politics
- Barnama
ASEAN Unity Remains Strong Amid Challenges, Five-Point Consensus Still Relevant - Sec-gen
By Nurul Hanis Izmir KUALA LUMPUR, May 25 (Bernama) -- ASEAN Secretary-General Dr Kao Kim Hourn has reaffirmed that the regional bloc remains united and committed to its centrality and solidarity, even amid growing external pressures and persistent challenges such as the South China Sea dispute and the Myanmar crisis. Speaking to the media ahead of the 46th ASEAN Summit at the Kuala Lumpur Convention Centre (KLCC) here, Kao said the commitment was demonstrated when ASEAN Foreign Ministers, who met in four separate meetings yesterday, collectively reiterated that ASEAN's strength lies in its unity and centrality role in the region. 'The message is very clear. ASEAN Foreign Ministers have not just emphasised unity, but also reaffirmed how ASEAN will continue working together during this very challenging time,' he said. Kao, who is leading the ASEAN Secretariat delegation to the 46th Summit, as well as the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the inaugural ASEAN-GCC-China Summit, said the bloc has consistently maintained a united voice on regional and global issues when engaging both internally and with external partners. Commenting on Malaysia's announcement to send a delegation to Myanmar to resume engagement with stakeholders there, Kao said this reflects the active role of the ASEAN Chair and the Special Envoy on Myanmar. 'We've seen that under Malaysia's chairmanship this year, the country has been very proactive and consistent in leading ASEAN, especially in efforts to engage Myanmar,' he said. He cited Malaysia's swift response to Myanmar's recent 7.7-magnitude earthquake as a key example of this leadership. In coordination with Thailand, Malaysia initiated a special ASEAN Foreign Ministers' meeting to discuss the delivery of assistance. 'The meeting was convened promptly to coordinate a common ASEAN response. Following that, we've seen the delivery of humanitarian assistance to Myanmar both collectively and individually by member states,' he said.
