Asean must focus on building a more integrated and resilient economy, says Anwar

The Star

It is imperative that Asean focus its energies inward, towards building a more integrated and resilient economy in facing today’s global economic headwinds, says Datuk Seri Anwar Ibrahim.   In his policy speech delivered at the Asean secretariat here on Tuesday (July 29), the Prime Minister, who is also the current chair of the grouping, said the region is home to a vast and vibrant market of 660 million people.  Read more at https://tinyurl.com/4e7e8e7a  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00As an outward-looking organization in a multipolar world, ASEAN must continue to punch

00:06above its weight by broadening its global partnerships. Deepening ties and strategic

00:14links with diverse partners is not a choice. It is a strategic imperative. But we should

00:23engage as equals. And above all, you must be the speakers and not the spoken for.

00:31So, Excellencies, distinguished guests, ladies and gentlemen, in facing today's global economic

00:39headwinds, it is imperative that we focus our energies inward towards building a more integrated

00:46and resilient ASEAN economy. Our region is home to a vast and vibrant market of 670 million

00:55people. The potential is undeniable. But to realize it fully, we must narrow the existing

01:04development gaps and forge stronger, more equitable economic linkages across member states. At

01:14the 47th ASEAN Summit in Kuala Lumpur, we will once again demonstrate our collective commitment

01:25towards improving the unimpeded flow of goods within our region. And this will be late October.

01:35So, good luck to you. Because if you succeed, we say thank the chairman. If he fails, blame

01:42the secretariat. Oh, I'm joking. You will have sleepless nights after this. Now, through renewed

01:54efforts to reduce tariff and non-tariff barriers, we are taking meaningful steps towards creating

02:00a more seamless and dynamic ASEAN economic community that works for all, not just for some. So, in my

02:11discussions with President Prabowo, for example, we emphasize on ASEAN's extensive network of free

02:21free trade agreements has long served and has to be further expanded because it has, the trade

02:30agreements is pivotal because it was a cornerstone of our economic resilience. But in an error marked

02:40by protectionism and shifting supply chains, we cannot afford to become complacent. We must remain

02:49committed to openness and reform, even as we adapt to a more complex geoeconomic landscape. It is only

02:59through sustained liberalization and cooperation that we can safeguard jobs, preserve growth and

03:08consolidate our position in the global economy. The RCEP, RCEP, the Regional Comprehensive Economic

03:16Partnership, is central to this vision. As the world's largest trade agreement, it reinforces ASEAN's role as the

03:26linchpin of regional economic architecture. We expect the fifth RCEP leaders' meeting to also take place at the

03:33sidelines of the 47th ASEAN Summit, thus presenting an opportunity for us to ensure that RCEP delivers tangible

03:43benefits for businesses, workers and communities. Now, as we look to strengthen ASEAN's position in an increasingly

03:53competitive global economy, we must also do more to ensure that businesses can operate with confidence

04:00and clarity across our borders. And this is, of course, emphasising every single bilateral and ASEAN meetings.

04:08We can't be talking about expanding trade and we don't enhance inter-ASEAN trade. We can't talk about flow, free flow,

04:16and being attractive to foreign direct investments when you disallow a curve or do not necessarily encourage increasing

04:27investments within ASEAN. So, that has been the priority and I think it is pushing this ahead because the potential

04:36for trade and investment in within ASEAN itself is huge. And as we have seen during the success of the ASEAN GCC

04:48China Summit, it is a clear signal that ASEAN is ready to build new bridges and unlock new partnership. It also reaffirms our

05:01shared determination to shape a future based on mutual respect, shared growth and strategic cooperation.

05:12Now, digital economy will be a key driver of ASEAN's next phase of growth. That is why we are advancing efforts to

05:20to conclude the ASEAN Digital Economy Framework Agreement while modernising our existing trade agreements with

05:29strategic partners, including China, India and the Republic of Korea. These efforts reflect ASEAN's readiness

05:36to embrace change and position ourselves at the forefront of digital transformation.

05:50To do this one, the second, we have a acute care of a bigger conversation as a result of their

05:58business no longer this through. We have a single-capacity, the common-capacity,

06:02the main-capacity, the main-capacity, the main-capacity process,

06:06the main-capacity, the main-capacity of the main-capacity that we need to do

06:10and to join a strategic standpoint. We can continue three-capacity in keeping track of the

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