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Barnama
27-05-2025
- Business
- Barnama
ASEAN, GCC And China - A New Power Bloc Of The Global South
From Kisho Kumari Sucedaram BEIJING, May 27 (Bernama) -- As the global economic uncertainty rages on following the United States' (US) sweeping tariffs, China sees the inaugural ASEAN-Gulf Cooperation Council (GCC)-China Summit in Kuala Lumpur today not merely as a diplomatic gathering but a pivotal moment in the rise of the Global South. For China, this tripartite meeting is far more than a symbolic gesture. It represents the emergence of a new economic and strategic axis, one that challenges traditional Western-dominated trade frameworks and offers an alternative vision of cooperative development. This was made evident when China's Foreign Ministry Spokesperson, Mao Ning, remarked last week that China looks to expand practical cooperation with ASEAN and the oil-rich GCC member states in various fields to leverage their respective strengths, pursue win-win results and defend common interests of the Global South. It would be a coming together of ASEAN's quest to foster integration within Southeast Asia, GCC's aim to reduce dependence on oil and diversify the economy, and China's Belt and Road Initiative focusing on global infrastructure development strategies. Malaysia, as ASEAN Chair this year, is hosting the maiden ASEAN-GCC-China Summit which is set to unlock immense potential for multilateral cooperation. The combined weight of ASEAN, GCC and China is certainly reshaping the global economic dynamics. ASEAN, now the world's fifth-largest economy with a collective gross domestic product (GDP) of over US$3.6 trillion (US$1=RM4.22), is not just a manufacturing hub but also a burgeoning consumer market of 700 million people. On Sunday, Malaysia's Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz told a press conference that the collective ASEAN GDP is projected to grow at 4.7 per cent in 2025 from 4.2 per cent last year.
The Sun
26-05-2025
- Business
- The Sun
Malaysia, Indonesia to lead establishment of ASEAN Halal Council
KUALA LUMPUR: Malaysia and Indonesia are set to lead the establishment of the ASEAN Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, said Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister said that with the global halal market projected to reach USD5 trillion (USD1 = RM4.22) by 2030, ASEAN must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the ASEAN Halal Council this year. 'This will serve as a strategic platform to systematically align halal policies, standards and regulations among ASEAN countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. 'This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th ASEAN Summit here today. Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the ASEAN halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. 'This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-ASEAN trade. It is expected to have a positive impact on halal market demand in ASEAN, which comprises nearly 700 million people,' he said. Ahmad Zahid noted that the meeting was a continuation of his recent official visit to Indonesia, which marked the beginning of deeper collaboration between the two nations in leading the development of the regional halal industry.
Barnama
26-05-2025
- Business
- Barnama
Malaysia, Indonesia To Lead Establishment Of ASEAN Halal Council
KUALA LUMPUR, May 26 (Bernama) -- Malaysia and Indonesia are set to lead the establishment of the ASEAN Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, said Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister said that with the global halal market projected to reach USD5 trillion (USD1 = RM4.22) by 2030, ASEAN must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the ASEAN Halal Council this year. 'This will serve as a strategic platform to systematically align halal policies, standards and regulations among ASEAN countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. 'This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th ASEAN Summit here today. Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the ASEAN halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. 'This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-ASEAN trade. It is expected to have a positive impact on halal market demand in ASEAN, which comprises nearly 700 million people,' he said.
The Star
26-05-2025
- Business
- The Star
Malaysia, Indonesia to lead setting-up of Asean Halal Council
KUALA LUMPUR: Malaysia and Indonesia are set to lead the establishment of the Asean Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, says Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister said that with the global halal market projected to reach USD5tril (USD1 = RM4.22) by 2030, Asean must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the Asean Halal Council this year. "This will serve as a strategic platform to systematically align halal policies, standards and regulations among ASEAN countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. "This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th Asean Summit here on Monday (May 26). Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the Asean halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. "This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-Asean trade. It is expected to have a positive impact on halal market demand in Asean, which comprises nearly 700 million people,' he said. Ahmad Zahid noted that the meeting was a continuation of his recent official visit to Indonesia, which marked the beginning of deeper collaboration between the two nations in leading the development of the regional halal industry. - Bernama
