Tag: ASEAN

Guangzhou International Arbitration Court Opens Vietnam Liaison Office to Support China-Vietnam Cross-Border Dispute Resolution

HO CHI MINH CITY, Vietnam, June 12 -- The Guangzhou Arbitration Commission (GZAC) has officially opened the Vietnam Liaison Office of the Guangzhou International Arbitration Court in Ho Chi Minh City, marking a new step in strengthening China–Vietnam arbitration cooperation and supporting businesses engaged in cross-border commerce and investment. The launch comes as economic ties between China and Vietnam continue to deepen. Bilateral trade exceeded US$250 billion in 2025, with Vietnam remaining China's largest trading partner within ASEAN. Under the Belt and Road Initiative, cooperation between the two countries has expanded across sectors including renewable energy, digital economy, infrastructure and cross-border investment. As commercial exchanges increase, so does demand for efficient, predictable and enforceable dispute resolution services. The Vietnam Liaison Office is designed to respond to this growing need by providing businesses with easier access to arbitration-related information, procedural guidance and dispute resolution support. Speaking at the opening ceremony, Mark Feldman, President of the Guangzhou International Arbitration Court, said the office reflects GZAC's commitment to providing arbitration services closer to users and supporting the evolving needs of companies operating across borders. Located in Ho Chi Minh City, the office will serve as a regional platform for Chinese and Vietnamese businesses seeking professional dispute resolution services. It will draw on GZAC's experience in international arbitration, digital dispute resolution and cross-border case administration. GZAC has continued to expand its international presence in recent years. In 2025, it handled 877 foreign-related cases with a total disputed amount exceeding US$1.8 billion. Parties came from 22 countries and regions, while the institution has served users from 67 jurisdictions worldwide. Nearly 40 percent of the members of its current arbitration committee are foreign nationals or professionals from Hong Kong and Macao, representing six jurisdictions. GZAC is also a pioneer in digital dispute resolution. As one of the first official global partners of the APEC Collaborative Framework for Online Dispute Resolution (APEC-ODR), it operates an online dispute resolution platform that integrates negotiation, mediation and arbitration services. The platform supports real-time translation in eight languages and has handled more than 1,000 cases involving claims exceeding RMB10 billion. Through its Vietnam Liaison Office, GZAC plans to deepen engagement with arbitration institutions and legal service providers across Vietnam and ASEAN, contributing to a more efficient environment for cross-border trade and investment. -- PRNewswire -- Source: Guangzhou Arbitration Commission (GZAC)

HO CHI MINH CITY, Vietnam, June 12 — The Guangzhou Arbitration Commission (GZAC) has officially opened the Vietnam Liaison Office of the Guangzhou International Arbitration Court in Ho Chi Minh City, marking a new step in strengthening China–Vietnam arbitration cooperation and supporting businesses engaged in cross-border commerce and investment. The launch comes as economic ties between China […]

PRIME MINISTER OFFICIATES TNB’S ETCON26, REINFORCES MALAYSIA’S COMMITMENT TOWARDS A SUSTAINABLE AND AI-READY ENERGY FUTURE

KUALA LUMPUR , Jun 6 -- The second day of Tenaga Nasional Berhad’s (TNB) Energy Transition Conference 2026 (ETCon26) marked a significant milestone as Prime Minister, Dato’ Seri Anwar Ibrahim, officially launched the conference, reaffirming Malaysia’s commitment towards advancing a sustainable, resilient and future-ready energy ecosystem. Building on the momentum of the inaugural conference held in 2023, which marked the launch of the National Energy Transition Roadmap (NETR) by the Prime Minister, ETCon26 highlighted the importance of advancing energy transition in tandem with economic growth, technological innovation and regional collaboration to ensure long-term national competitiveness and sustainable development. The conference also underscored Malaysia’s continued progress in expanding renewable energy capacity, with TNB playing a pivotal role in advancing the NETR aspiration through contributions in large-scale solar development and continued investments in modernising the national grid through incorporation of digital technologies. PM Witnesses Landmark Renewable Energy Agreement Between TNB and DayOne A key highlight of the day was the witnessing of a document exchange formalising a Bilateral Energy Supply Contract (BESC) under the Corporate Renewable Energy Supply Scheme (CRESS) between TNB and DayOne, a Singapore-headquartered global digital infrastructure platform. The agreement reflected Malaysia’s ongoing efforts to advance digital innovation and sustainable energy, aligned with long-term decarbonisation goals under the NETR. The arrangement, which supports Malaysia’s AI Nation 2030 agenda, integrates large-scale solar generation with battery energy storage systems, ensuring a stable and reliable supply of renewable energy for energy-intensive digital operations. High-Level Ministerial Dialogue Complementing the day two highlights was a high-level Ministerial Dialogue themed “Powering Malaysia's Next Growth Chapter: Energy, Economy & Digital in Sync”, bringing together Deputy Prime Minister and Minister of Energy Transition and Water Transformation, Datuk Amar Fadillah Yusof; Minister of Economy, Akmal Nasrullah Mohd Nasir; and Minister of Digital, Gobind Singh Deo. The dialogue explored how a whole-government approach can unlock sustainable economic growth and strengthen Malaysia’s AI-ready competitiveness, including better alignment across power system planning, digital infrastructure, industrial policy and talent development. It also reinforced the importance of cross-sector collaboration to advance Malaysia’s energy transition, while strengthening ETCon26’s role as a platform where energy, economic and digital policymakers converge to support a more aligned and future-focused national agenda. Navigating ASEAN’s Energy Future Also taking centre stage in day two’s discussions were in-depth conversations on the future of energy in ASEAN, where panellists explored the growing importance of cross-border energy trade, regulatory harmonisation, sustainable financing and nuclear technologies as the region accelerates towards a more interconnected, digital and low-carbon future. One of the key sessions, “ASEAN Power Grid: From MOUs to Megawatts”, examined ASEAN’s readiness to operationalise multilateral power trade at scale, while identifying the concrete policy, infrastructure and regulatory actions required to realise a truly integrated regional power system. Another prominent dialogue, “Fueling AI’s Hunger: Powering ASEAN’s Next Era of Growth”, explored the preparedness of ASEAN’s current energy systems to meet the rapidly rising electricity demand driven by AI, digitalisation and data centres, while remaining aligned with energy transition and decarbonisation goals. The conference also featured strong discussions on the future role of nuclear energy through the session “Next-Generation Nuclear: Pioneering the Future”. Experts and industry leaders assessed the readiness of advanced nuclear technologies and the conditions required to make them commercially viable and widely deployable, consequently becoming an alternative source of clean energy to cater for the increasing energy demand in the ASEAN region. These discussions underscored the need for stronger regional cooperation, interconnected grids and coordinated policy frameworks in ensuring ASEAN can achieve long-term energy security, economic resilience and sustainable growth in an increasingly complex global landscape. At this juncture, TNB’s role as a prominent industry player remains critical in advancing and facilitating cross-border connectivity initiatives to support the accelerated energy transition agenda in the region. Powering the Next Phase of Energy Growth The next phase of the energy industry will be shaped by digitalisation and the rapid expansion of AI-driven industries, driving continued growth in electricity demand. Emerging load segments, particularly data centres, require stable and low-carbon electricity supply, with TNB currently supporting 36 operational data centres with electricity supply capacity of approximately 4.5GW. Against this backdrop, Malaysia remains steadfast in its commitment to increase renewable energy capacity to 70% by 2050 or earlier, supporting the growth of an AI-driven economy while accelerating decarbonisation efforts under the NETR. “As energy demand from AI and digital industries continues to accelerate globally, ETCon26 reinforces Malaysia’s ambition to emerge as a regional leader in advancing a sustainable, resilient and future-ready energy ecosystem. Through stronger multilateral collaboration, grid modernisation and clean energy innovation, Malaysia is well-positioned to power ASEAN’s next chapter of sustainable growth,” said TNB Chairman, Tan Sri Abdul Razak Abdul Majid. About ETCon26 Organised by TNB, ETCon26 serves as a regional platform that convenes policymakers, industry leaders, investors, academics and innovators to accelerate collaboration and actionable outcomes in the energy transition agenda. The conference brings together approximately 80 speakers from Malaysia and around the world, representing diverse sectors including energy, technology, finance, policy and infrastructure. Centred on the theme “Energy & AI: The Synergy for Energy Transition”, ETCon26 is anchored on three content pillars, namely Energy for AI, AI for Energy and Energy Transition for People. -- MINUTESMY

KUALA LUMPUR , Jun 6 — The second day of Tenaga Nasional Berhad’s (TNB) Energy Transition Conference 2026 (ETCon26) marked a significant milestone as Prime Minister, Dato’ Seri Anwar Ibrahim, officially launched the conference, reaffirming Malaysia’s commitment towards advancing a sustainable, resilient and future-ready energy ecosystem. Building on the momentum of the inaugural conference held […]

Informa Markets Puts Bangkok at the Center of Southeast Asia’s Pharma Industry, Uniting 400 Exhibitors, Experts from 70 Countries at CPHI South East Asia

BANGKOK, May 24, 2026 /PRNewswire/ -- Informa Markets sets to organise CPHI South East Asia from 8–10 July 2026 at Queen Sirikit National Convention Center under the theme "The Gateway to the ASEAN Pharma Industry." The event is a comprehensive pharmaceutical manufacturing exhibition, technology showcase, and conference for Southeast Asia, featuring innovations from more than 400 companies worldwide. Highlights include international pavilion zones from eight markets, showcasing innovation trends from Mainland China, India, Indonesia, Malaysia, South Korea, Taiwan, Thailand, Vietnam, and Egypt. The event will also provide business matching opportunities and over 60 academic conference sessions. Organisers expect more than 10,000 visitors from over 70 countries during the three-day event, creating new business opportunities throughout the exhibition. Ms. Rungphech Chitanuwat, Regional Portfolio Director – ASEAN at Informa Markets said, "The pharmaceutical industry in Thailand continues to show strong growth potential, supported by several factors including the country's transition into a fully aged society, the increasing prevalence of non-communicable diseases (NCDs), healthcare system expansion, growth in medical tourism, and the use of essential medicines in hospitals under Thailand's universal healthcare system. In 2024, Thailand's pharmaceutical industry was valued at approximately THB 240 billion (around 6.9 billion dollars), and is projected to grow by 6–7% due to these supporting factors. Market research agencies also forecast that by 2030, the industry could reach a value of 480 billion baht or 13.9 billion dollars. Another key trend to watch is the increasing push from both the public and private sectors toward pharmaceutical development and innovation, including both generic drugs and newly developed medicines. This aligns with government efforts to strengthen pharmaceutical security. Pharmaceutical and healthcare security has therefore become a national policy priority aimed at raising public healthcare standards and strengthening the country's economy as Thailand seeks to join the OECD within five years. Policies also focus on reducing reliance on imported medicines, supporting domestic active pharmaceutical ingredient (API) production, and increasing manufacturing capacity for essential medicines in line with actual production costs. This is the driving force behind the organization of CPHI South East Asia, a technology and innovation exhibition with the important goal of contributing to Thailand's pharmaceutical security. The event aims to help drive both healthcare and the economy forward, positioning Thailand as a Medical Hub for Southeast Asia through internationally standardized pharmaceutical manufacturing and enhanced competitiveness in global export markets. Ms. Rungphech added, "Pharmaceutical security is a shared responsibility and a foundation of human security. Government and private sector must work in tandem to ensure Thailand not only has access to medicines, but becomes a country that the world trusts to produce them." "CPHI South East Asia is part of International Healthcare Week and will be held at Queen Sirikit National Convention Center from 8–10 July 2026 under the theme "The Gateway to the ASEAN Pharma Industry." The event will contribute to advancing Thailand's pharmaceutical industry in line with the country's strategic development goals." Ms. Supatra Boonserm, Secretary-General of the Food and Drug Administration (FDA), under the Food and Drug Administration Office (Thai FDA), Ministry of Public Health, stated that in a world where medical technology continues to advance rapidly, we are now entering the era of Advanced Therapy Medicinal Products (ATMPs). These are no longer just "medicines" in the traditional sense, but represent "new hope" for treating diseases once considered incurable — whether through cell therapy, gene therapy, or tissue engineering. Today, the role of the Thai FDA is no longer limited to being merely a "regulator" responsible for screening product safety. It has evolved into an "Innovation Facilitator," aiming to position Thailand as a true regional healthcare hub. The FDA's key mission in supporting ATMPs is built upon three major pillars: 1.Creating a Regulatory "Fast Track" (Regulatory Excellence) Complex innovations require regulations that are both flexible and rigorous. The FDA has therefore developed legal frameworks aligned with international standards, covering product classification and dedicated GMP standards specifically for ATMPs. This ensures that products developed by Thai innovators meet global standards and can confidently compete in international markets. 2. Serving as a Strategic Partner for Researchers and Entrepreneurs (Proactive Partnership) The FDA has implemented a Pre-submission Consultation mechanism to provide technical guidance before formal approval applications are submitted. It has also introduced Fast Track pathways for products addressing urgent medical needs, helping reduce unnecessary delays and barriers while maintaining patient safety as the highest priority. 3. Building an "Ecosystem of Trust" (Ecosystem of Trust) The FDA oversees clinical trials to ensure ethical compliance and maintains long-term post-market safety monitoring systems. This is intended to build confidence among both patients and healthcare professionals that these innovations will remain effective and safe in a sustainable manner. Mr. Surachai Ruengsuksilp, Honorary Chairman of the Pharmaceutical Industry Group under the Federation of Thai Industries and Vice President of the Thai Pharmaceutical Manufacturers Association (TPMA), stated that the pharmaceutical industry is not merely an economic driver, but also a "critical infrastructure for national security." Currently, Thailand's pharmaceutical market is valued at more than THB 240 billion. Amid these opportunities, the Federation of Thai Industries has established a strategic direction to position Thailand as a full-fledged Regional Pharma Hub through three key strategies: 1.Transforming from an "Importer" to a "Producer for Security" Reducing dependence on imported medicines by promoting domestic production of Active Pharmaceutical Ingredients (APIs), thereby reducing vulnerability to global crises. 2. Upgrading from "Basic Medicines" to "Advanced Innovation" Supporting Thai pharmaceutical manufacturers in upgrading to internationally recognized PIC/S GMP standards, enabling Thai medicines not only to serve the CLMV market but also to expand exports globally. 3. Building a Strong Pharmaceutical Ecosystem Driving collaboration with the government and the Board of Investment (BOI) to create an investment environment conducive to research and development, while also reforming procurement regulations to better reflect actual quality-based costs. This is intended to help Thai pharmaceutical companies remain competitive and achieve sustainable growth. The Federation of Thai Industries aims to make Thailand "a regional production base for high-quality and affordable medicines," focusing not only on economic growth figures, but also on ensuring that Thai people have sufficient access to safe medicines under all circumstances. Dr.Ponthip Wirachwong Ph.D. Deputy Managing Director, Government Pharmaceutical Organization (GPO), stated that beyond its primary role in pharmaceutical manufacturing, the organization's core mission is to ensure confidence in Thailand's healthcare system by guaranteeing that Thai people will never face medicine shortages during crises or at any time. In the past, Thailand has experienced epidemics and natural disasters, and the GPO has maintained reserve systems for essential medicines and medical supplies to ensure that hospital operations can continue without disruption caused by delays. "Even the most advanced medicine fails if it remains out of reach. GPO's mission is simple: ensure every Thai patient has access to safe, quality medicines — at a price that doesn't force them to choose between health and survival," she said. -- SOURCE : Informa Markets

BANGKOK, May 24, 2026 /PRNewswire/ — Informa Markets sets to organise CPHI South East Asia from 8–10 July 2026 at Queen Sirikit National Convention Center under the theme “The Gateway to the ASEAN Pharma Industry.” The event is a comprehensive pharmaceutical manufacturing exhibition, technology showcase, and conference for Southeast Asia, featuring innovations from more than […]

Malaysia has the potential to lead the development of ASEAN Energy Grid – TNB

KUALA LUMPUR, May 24 -- Malaysia has a strong foundation to lead the development of smart and sustainable energy in the ASEAN region, especially through efforts to realise the ASEAN Power Grid (APG), said Tenaga Nasional Bhd (TNB) Senior Chief Strategy, Regulatory and Sustainability Officer, Datuk Muhamad Nazri Pazil. He said Malaysia's strategic position at the heart of ASEAN, world-class grid infrastructure, mature energy ecosystem and policies that support the energy transition agenda give the country an advantage to play a greater role at the regional level. "In terms of our strategic position, it allows us to collaborate with other energy utility partners through an initiative we call APG. "With this APG, we can share energy. When there is high demand in a country, we can help," he said in the Ruang Bicara program produced by BERNAMA TV on Thursday. Muhamad Nazri said the Energy Transition Conference 2026 (ETCon26) which will take place from June 3 to 5, 2026 at the Kuala Lumpur Convention Centre will be an important platform for ASEAN countries to discuss measures to accelerate the realisation of the APG. He said the conference would be attended by participants from Malaysia, the ASEAN region and outside ASEAN, with approximately 2,000 delegates from various countries and technical backgrounds expected to attend. "In the context of this ETCon, it is very noticeable because we provide the platform." "There will be participation from ASEAN countries and we can discuss how to further accelerate our desire to realise this APG," he said. Commenting further on cross-border energy cooperation, he said the Laos-Thailand-Malaysia-Singapore (LTMS) initiative was the first connection that enabled commercial energy transfers and for security of supply purposes. He said there were five other projects in planning and feasibility studies including the Vietnam-Malaysia-Singapore (VMS) connection, Sarawak-Peninsula-Singapore, as well as increasing Malaysia's connectivity with Thailand and Singapore. "If there is connectivity between ASEAN countries, we can strengthen the security of energy supply. "We know that right now there are geopolitical issues, gas costs are also rising, so when we have renewable energy (RE) that can be shared, this means costs can be controlled," he said. Muhamad Nazri said such collaborations also enable renewable energy from countries such as Laos, which has hydro resources, and Vietnam, which has wind resources, to be channeled to other countries including Malaysia and Singapore. Regarding ETCon26, he said the conference would be officiated by Prime Minister Datuk Seri Anwar Ibrahim, while Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof would deliver the keynote address on the first day. He said more than 80 speakers have confirmed their participation, in addition to 40 sponsors who will open their respective stalls throughout the conference. He said ETCon26 would also focus on how energy and artificial intelligence (AI) could be combined to drive the energy transition in Malaysia and the Asian region. Muhamad Nazri said ETCon26 should not stop as a mere conference space but rather should be translated into clear follow-up actions through strategic collaboration, investment and implementation. "In ETCon26, there will be 16 strategic collaboration exchanges and launches," he said. He said the ultimate goal of ETCon is to be a catalyst for the actual implementation of the energy transition with visible impacts in the short, medium and long term. -- BERNAMA

KUALA LUMPUR, May 24 — Malaysia has a strong foundation to lead the development of smart and sustainable energy in the ASEAN region, especially through efforts to realise the ASEAN Power Grid (APG), said Tenaga Nasional Bhd (TNB) Senior Chief Strategy, Regulatory and Sustainability Officer, Datuk Muhamad Nazri Pazil. He said Malaysia’s strategic position at […]

Geopolitical uncertainty an opportunity for ASEAN to accelerate aviation reform

BANGKOK: ASEAN sees the current geopolitical and economic uncertainties involving the aviation sector as an opportunity to boost regional cooperation as well as accelerate long-overdue reforms. Deputy Secretary-General of the ASEAN Economic Community Satvinder Singh said the reforms included aspects of liberalising cargo services, standardising regulations and accelerating the implementation of the ASEAN Single Aviation Market (ASAM) which could further strengthen the Southeast Asian aviation sector. He is also optimistic that the current global challenges can strengthen the ASEAN aviation sector for the next one to two years. "I hope we can come together again in another year or two to say that this crisis has its benefits and this is what unites us," he said at a panel session at the Airports Council International (ACI) Asia Pacific and Middle East Regional Assembly, Conference and Exhibition here, today. Satvinder said ASEAN member states were seen to be using the crisis as a catalyst to improve coordination, strengthen resilience and accelerate reforms that had previously been at a slower pace. He said ASEAN was also finalising what was described as the world's largest regional digital agreement that had legal validity and was expected to be signed later this year in Manila. The agreement is expected to support the aviation sector and regional connectivity by improving payment systems, data flows and e-commerce integration. In addition, he said that despite concerns about trade disruptions and geopolitical tensions, ASEAN entered 2026 in a strong position with the region's Gross Domestic Product (GDP) growing by 4.9 percent in 2025, exceeding the initial projection of 4.2 percent. Regional trade also grew by 8.8 percent, rising from US$3.8 trillion (US$1= RM3.93) to US$4.3 trillion while foreign direct investment (FDI) grew by 10 percent. Satvinder said ASEAN leaders have also shown strong unity in addressing current challenges, including cooperation to ensure the resilience of the energy and aviation sectors. He cited Thailand's offer to support neighboring countries with surplus jet fuel as an example of the spirit of cooperation in the region. The current crisis is also an opportunity to strengthen aspects of intra-ASEAN travel and regional integration. In addition, he stressed the importance of accelerating the ratification process of aviation agreements within ASEAN to enhance the implementation of the ASAM. "We need to increase the ratification process in the region and leverage existing efforts to enable this agreement to be fully implemented," he said. ASEAN, he said, has made great progress in its efforts to liberalize third and fourth freedoms of traffic rights and is now continuing negotiations on air services agreements with key allies including the European Union, Japan, South Korea and the United Kingdom. "However, there is still much to be done, particularly in liberalising air cargo services, harmonising regulations and strengthening mutual recognition in the aviation safety system," he said. Satvinder also stressed the strategic importance of air cargo links to the ASEAN semiconductor industry, with the region producing 60 to 70 percent of the world's semiconductors and largely dependent on air transport services. Apart from aviation liberalisation, Satvinder said ASEAN is also working to advance broader regional initiatives in the aspects of digitalisation and sustainability. Commenting on sustainability, he said ASEAN countries are likely to increase efforts in the development of sustainable aviation fuel (SAF) and biofuels by leveraging the strong capabilities of the agricultural sector and the region's extensive agricultural waste resources. According to Satvinder, while the current crisis is creating operational challenges across the aviation sector, the situation also highlights the urgent need for ASEAN countries to move faster in terms of regional coordination, resilience and long-term transformation. -- BERNAMA

BANGKOK: ASEAN sees the current geopolitical and economic uncertainties involving the aviation sector as an opportunity to boost regional cooperation as well as accelerate long-overdue reforms. Deputy Secretary-General of the ASEAN Economic Community Satvinder Singh said the reforms included aspects of liberalising cargo services, standardising regulations and accelerating the implementation of the ASEAN Single Aviation […]

IBM, Micron, Boeing Among 22 US Firms Backing Malaysia’s Green Transition — NRES

PUTRAJAYA, May 12 — IBM, Micron and Boeing are among 22 United States (US) companies supporting Malaysia’s green transition through strategic cooperation with the Ministry of Natural Resources and Environmental Sustainability (NRES). The commitment was conveyed during a meeting today between Minister of Natural Resources and Environmental Sustainability Datuk Seri Arthur Joseph Kurup and a […]

ASEAN Must Remain United in Facing Global Crises – PM Anwar Ibrahim

KUALA LUMPUR, May 8 — Prime Minister Anwar Ibrahim reaffirmed Malaysia’s strong commitment to strengthening ASEAN unity in addressing increasingly complex global challenges, particularly geopolitical crises that have directly impacted energy security, food security, and the stability of regional supply chains. Speaking at the 48th ASEAN Summit today, he stressed that no country could confront the ongoing global uncertainties alone, underscoring the need to further reinforce collective cooperation and regional solidarity within ASEAN. Anwar said Malaysia also expressed support for accelerating the ASEAN Power Grid initiative, strengthening regional petroleum security mechanisms, and expanding strategic cooperation networks, including through ASEAN-GCC-China collaboration, to ensure long-term energy resilience. On food security, he said ASEAN must take more decisive action through the coordination of emergency food stockpiles and the strengthening of the ASEAN Plus Three Emergency Rice Reserve (APTERR) mechanism to shield the region from food inflation and supply disruptions. He also emphasised that the safety of ASEAN citizens in conflict areas must remain a shared priority among member states. According to him, ASEAN should intensify information sharing, diplomatic cooperation, and emergency response mechanisms to safeguard the welfare of ASEAN citizens abroad. Anwar stressed that ASEAN must continue to serve as a platform for regional stability, inclusiveness, and resilience amid growing global uncertainty and intensifying geopolitical competition. -- MINUTESMY -- SOURCE: FB ANWAR IBRAHIM

KUALA LUMPUR, May 8 — Prime Minister Anwar Ibrahim reaffirmed Malaysia’s strong commitment to strengthening ASEAN unity in addressing increasingly complex global challenges, particularly geopolitical crises that have directly impacted energy security, food security, and the stability of regional supply chains. Speaking at the 48th ASEAN Summit today, he stressed that no country could confront […]

ASEAN targets 30 percent intra-regional trade by 2030 – Mohamad

CEBU: ASEAN is committed to strengthening intra-regional trade, including increasing trade between member countries to at least 30 percent by 2030. Foreign Minister Datuk Seri Mohamad Hasan said ASEAN member states need to move as a more organised and united bloc to address the impact of global conflicts, including disruptions to regional trade, economy and security, especially during conflicts in West Asia. He said ASEAN needs to emphasize efforts to streamline free trade agreements (FTAs) and facilitate the movement of goods among member countries to strengthen intra-ASEAN trade. "Intra-ASEAN trade has not yet reached 25 percent. We want trade between ASEAN countries to reach at least 30 percent by 2030." "We are looking at the current status, the obstacles and the steps that need to be taken. Therefore, we want the memorandum of understanding (MoU), ASEAN FTA and the movement of goods to be streamlined." "If possible, trade between ASEAN countries should also not be subject to tariffs," he told Malaysian media on Thursday. Mohamad said the conflict in West Asia was an important lesson to ASEAN that cooperation and understanding among member countries was essential to face regional and global challenges. "Each has its strengths and advantages. We need to find a formula for how we can strengthen cooperation and help each other," he said. Regarding the ASEAN Foreign and Economic Ministers' Joint Meeting held on Thursday, Mohamad said it was an initiative initiated under the Malaysian chairmanship to ensure coordination between the political-security and economic pillars. He said that ASEAN's development had previously been largely based on political and security aspects, but the focus had now shifted to strengthening the economy and more comprehensive regional cooperation. He said that a joint meeting involving ASEAN Foreign Ministers and Economic Ministers was held to ensure that every decision could be coordinated across all ASEAN pillars, including economic, social and cultural.

CEBU: ASEAN is committed to strengthening intra-regional trade, including increasing trade between member countries to at least 30 percent by 2030. Foreign Minister Datuk Seri Mohamad Hasan said ASEAN member states need to move as a more organised and united bloc to address the impact of global conflicts, including disruptions to regional trade, economy and […]