Latest news with #PriorityEconomicDeliverables
New Straits Times
27-05-2025
- Business
- New Straits Times
Asean 2045: Govt to enhance scope of regional energy cooperation
PUTRAJAYA: The Energy Transition and Water Transformation Ministry has voiced its full support for the Kuala Lumpur Declaration on Aseab 2045: Our Shared Future, calling it a pivotal step towards realising the Asean Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of ministry, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming Asean Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across Asean by 2045. Fadillah also underscored the importance of advancing the Asean Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. "This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy," he said in a statement today. Fadillah said two other regional agreements, namely the Trans Asean Gas Pipeline Agreement (TAGP) and the Asean Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. "Through these initiatives, the ministry is committed to supporting the Kuala Lumpur Declaration of Asean 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient Asean Economic Community. "This commitment aligns with Malaysia Madani, the national development framework that champions sustainability, well-being, and innovation. "It also strengthens regional collaboration for the shared benefit of all Asean communities," he said. Yesterday, Asean leaders adopted the Kuala Lumpur Declaration on Asean 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th Asean Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, Asean member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions Asean as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people. – Benama
Barnama
27-05-2025
- Business
- Barnama
ASEAN 2045: PETRA To Enhance Scope Of Regional Energy Cooperation
Deputy Prime Minister who is also Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof PUTRAJAYA, May 27 (Bernama) -- The Ministry of Energy Transition and Water Transformation (PETRA) has voiced its full support for the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, calling it a pivotal step towards realising the ASEAN Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of PETRA, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across ASEAN by 2045. Fadillah also underscored the importance of advancing the ASEAN Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. 'This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy,' he said in a statement today. Fadillah said two other regional agreements, namely the Trans ASEAN Gas Pipeline Agreement (TAGP) and the ASEAN Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. 'Through these initiatives, PETRA is committed to supporting the Kuala Lumpur Declaration of ASEAN 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient ASEAN Economic Community. 'This commitment aligns with Malaysia MADANI, the national development framework that champions sustainability, well-being, and innovation. It also strengthens regional collaboration for the shared benefit of all ASEAN communities,' he said. Yesterday, ASEAN leaders adopted the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades.
The Sun
27-05-2025
- Business
- The Sun
ASEAN 2045: PETRA to enhance scope of regional energy cooperation
PUTRAJAYA: The Ministry of Energy Transition and Water Transformation (PETRA) has voiced its full support for the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, calling it a pivotal step towards realising the ASEAN Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of PETRA, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across ASEAN by 2045. Fadillah also underscored the importance of advancing the ASEAN Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. 'This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy,' he said in a statement today. Fadillah said two other regional agreements, namely the Trans ASEAN Gas Pipeline Agreement (TAGP) and the ASEAN Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. 'Through these initiatives, PETRA is committed to supporting the Kuala Lumpur Declaration of ASEAN 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient ASEAN Economic Community. 'This commitment aligns with Malaysia MADANI, the national development framework that champions sustainability, well-being, and innovation. It also strengthens regional collaboration for the shared benefit of all ASEAN communities,' he said. Yesterday, ASEAN leaders adopted the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th ASEAN Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, ASEAN member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions ASEAN as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people.
The Sun
27-05-2025
- Business
- The Sun
PETRA to enhance scope of regional energy cooperation
PUTRAJAYA: The Ministry of Energy Transition and Water Transformation (PETRA) has voiced its full support for the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, calling it a pivotal step towards realising the ASEAN Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of PETRA, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across ASEAN by 2045. Fadillah also underscored the importance of advancing the ASEAN Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. 'This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy,' he said in a statement today. Fadillah said two other regional agreements, namely the Trans ASEAN Gas Pipeline Agreement (TAGP) and the ASEAN Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. 'Through these initiatives, PETRA is committed to supporting the Kuala Lumpur Declaration of ASEAN 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient ASEAN Economic Community. 'This commitment aligns with Malaysia MADANI, the national development framework that champions sustainability, well-being, and innovation. It also strengthens regional collaboration for the shared benefit of all ASEAN communities,' he said. Yesterday, ASEAN leaders adopted the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th ASEAN Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, ASEAN member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions ASEAN as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people.
The Sun
26-05-2025
- Business
- The Sun
ASEAN businesses told to strengthen collaboration amid global uncertainty
KUALA LUMPUR: 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. The 46th ASEAN Summit spans two days starting today, and Malaysia is also hosting two key high-level engagements that coincide with it — the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the inaugural ASEAN-GCC-China Summit. This year marks Malaysia's fifth time as ASEAN Chair, having previously held the chairmanship in 1977, 1997, 2005, and 2015.
