PM: Strengthen Asean to be global economic force - MIDA | Malaysian Investment Development Authority
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PM: Strengthen Asean to be global economic force

PM: Strengthen Asean to be global economic force

06 Jun 2024

Asean’s role has become more crucial as more countries enact policies that serve only their interests, said Prime Minister Datuk Seri Anwar Ibrahim.

“In a time when certainties are rare and policies often reflect purely national interests, Asean’s role is more crucial than ever.

“I believe in Asean cohesiveness to strengthen our position as a formidable economic force. We must fortify Asean as a peaceful venture, addressing minor issues pragmatically,” he said in Facebook post yesterday.

Anwar said enhancing collaboration and economic trade and forging greater economic alliances with key partners, such as Japan, South Korea, China, Australia, and India, were essential.

“Our vision is to see Asean not only as a regional powerhouse but also as a dynamic and influential player on the global stage.”

Malaysia would champion these ideals when it assumed the chairmanship of Asean next year, he added.

Diversification of global supply chains and foreign direct investment inflows to benefit development, as well as reducing disparities would also be prioritised.

“By working together, Asean can create a more integrated and resilient regional economy.

“Malaysia itself is setting an example through strategic initiatives, such as the Madani Economy Framework, which aims to drive sustainable and inclusive development, ensuring that the benefits of prosperity are shared equitably among all Malaysians,” he said.

“We also aim to enhance economic cooperation with global partners by advancing technological collaboration and promoting sustainable trade practices, such as greater innovation into green technologies, essential for future growth and environmental sustainability,” he added.

In another post, Anwar said Malaysia, as Asean chair, would prioritise regional cooperation and economic growth.

“On the economic front, our focus will firstly be to strengthen economic cooperation among Asean member states.

“I reiterate this point because while we are successful at maintaining diplomatically, good bilateral relations individually, and at sub-regional and regional Asean levels, we need to do more,” said Anwar.

There was much more the region could work on to enhance its capabilities, improve its capacities to attract investments and trade, and to become an important regional bloc, he added.

“Japan will play an important role in this! It played a pivotal role propelling Malaysia’s economy forward, in the 1970s and 1980s, particularly during our transformative manufacturing boom.”

Source: NST