Asean's measured approach to US tariffs opens doors for engagement with major economies

Asean 2025

Asean’s stance of not imposing retaliatory measures in response to the United States’ tariffs has averted further escalation on the matter and it has set the foundation for engagement with other major economies, says Tengku Datuk Seri Zafrul Abdul Aziz.  The Investment, Trade and Industry Minister said he was proud that Asean’s response to the United States has been measured.    Read more at https://tinyurl.com/4nhacznm  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00The Iceland Report, the second chart.

00:04Welcome, Your Excellencies and Delegation, to Kuala Lumpur.

00:08I'm honoured and grateful for the attendance of Your Excellencies in this hall,

00:14as well as virtually, in convening the 25th AECC meeting.

00:20It is good to see everyone again, as we were just fresh from meeting each other virtually this week

00:26for a series of AEM consultations with our dialogue partners,

00:31including China, Japan, Australia and New Zealand.

00:35Indeed, the past month or so, all of us have been occupied with calculus analysis,

00:42as well as calculated measures and actions in addressing the researches in economic posture

00:48by the United States, the United States and the United States.

00:52There are key policy directions, such as the reciprocal tariff policy,

00:57strategic recovery and supply chain, french ordering,

01:00and utilisation of tighter trade enforcement tools,

01:03has prompted us to collectively understand, adapt to and strategically engage with this shift.

01:11I'm proud to say that ASEAN's response so far has been measured and wise.

01:14With a state of retaliation, we have chosen dialogue and cooperation

01:19with a clear commitment among ASEAN member states to not impose retaliatory measures,

01:26emphasising that open communication is key to a balanced and sustainable relationship.

01:32This prudent stance has already adverted escalation

01:36and preserve the foundation for engagement between ASEAN,

01:41not just with the U.S., but with other major economies as well.

01:46At our end, Malaysia, as the chair of ASEAN 2025,

01:50will try our best in steering the right conversations

01:53to transpire at the right time with the right parliament economies for the remainder of the year.

01:59At the same time, we also internally need to look into ways

02:03to decrease intra-ASEAN trade so as to reduce our dependencies towards external partners.

02:14Your Excellencies, it is expected that for our meeting today is to be short and sweet.

02:21While there will be 11 agenda items to be discussed with a span of half a day,

02:26I trust the build-up and progress of almost all the ASEAN initiatives

02:32which will be updated to us today.

02:34We will be showing positive development,

02:36thanks to the hard work and commitment by our senior officials

02:40and sectoral motives in implementing the tasks in the nation

02:44by the sense of thank you, senior officials.

02:47Hence, we can focus more on specific areas of issues

02:50that may require the EECC's intentions and guidance

02:54to make our discourse more efficient today.

02:57We will also put some emphasis on the items that the EECC

03:01will need to endorse for the submission of the ASEAN Coordinating Council of the ACC

03:05and subsequently the 46th ASEAN Summit.

03:09So, Your Excellencies, before I end by opening remarks,

03:12I would like to reiterate what I have previously mentioned

03:15during the 31st AEM retreat back in February 2035.

03:18Let us be reminded of the values that bind us together as ASEAN,

03:23peace, stability, mutual respect, and the determination

03:27to ensure a better future for all.

03:30ASEAN's journey has never been without challenges,

03:32but time and again, we have proven resilient,

03:35pragmatic, and forward-looking, guided by these values.

03:39The current economic environment that we're in calls not for retreat,

03:44but for renewed resolve.

03:47Therefore, let us approach our discussions today

03:50to an open mind, a spirit of collaboration,

03:53and a commitment to advancing our reform and leaders.

03:57I would like to also welcome Timor-Leste's participation today,

04:01and in accordance with the revised guidelines adopted

04:04by the 35th ASEAN Coordinating Council,

04:08Timor-Leste is invited to engage in today's discussions.

04:14I would now like to request the members of the media

04:19to exit this hall as the AECC to convene

04:23with our first agenda, the Trumpy.

04:25I would now like to request the members of the media,

04:30and I would like to request the members of the media,

04:32and I would like to request the members of the media,

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04:40and I would like to request the members of the media,

04:42and I would like to request the members of the media,

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04:48and I would like to request the members of the media,

04:50and I would like to request the members of the media,

04:51and I would like to request the members of the media,

04:52and I would like to request the members of the media,

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