Monday, 20 January 2025

ASEAN ranks as fifth-largest economy

Facebook
X
WhatsApp
Telegram
Email

LET’S READ SUARA SARAWAK/ NEW SARAWAK TRIBUNE E-PAPER FOR FREE AS ​​EARLY AS 2 AM EVERY DAY. CLICK LINK

LANGKAWI: Malaysian Foreign Minister Datuk Seri Mohamad Hasan today opened the ASEAN Foreign Ministers’ (AMM) Retreat here, highlighting the need for ASEAN to focus on regional economic integration, climate preparedness and inclusivity to navigate a rapidly changing global landscape.

“Our diversity of economic strengths and capabilities, coupled with ASEAN’s involvement in free trade agreements like the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), positions us uniquely to build integrated supply chains,” he said.

Highlighting ASEAN’s collective potential, he noted the bloc’s status as the fifth-largest economy globally, with a combined Gross Domestic Product (GDP) of US$3.8 trillion and a population of 677 million.

Mohamad emphasised the need for continued intra-regional trade and investment. 

“We are much stronger together. Promoting intra-regional trade and investment is essential to shielding us from future economic shocks,” he said at the retreat, hosted by Malaysia as the ASEAN Chair for 2025 and held at the Langkawi International Convention Centre (LICC) in the legendary island.

See also  Maxis to provide essential connectivity for hospitals

Addressing the growing threat of climate change, Mohamad called for unified action within ASEAN.

“As one of the most vulnerable regions to climate-induced disasters, Southeast Asia must be crisis-ready. ASEAN’s collective voice in global negotiations, such as the UN Framework Convention on Climate Change (UNFCC), is vital to ensure our needs are heard,” he said.

Malaysia, as the 2025 ASEAN Chair, has prioritised “Inclusivity and Sustainability” under its leadership, emphasising the empowerment of micro, small and medium enterprises (MSMEs).

“We aspire to uplift and provide equitable opportunities for all segments of society, ensuring that no one is left behind,” the Foreign Minister affirmed, aligning the bloc’s vision with Malaysia’s ‘Madani’ principles.

Inclusivity extends beyond economic programmes as the Chair’s call to recognise all 11 member states fully, including Timor-Leste, reflects its commitment to regional unity.

“In the spirit of this endeavour, we hope to see it reflected within ASEAN’s membership, that Southeast Asia is not a region of 10 nations – there are 11 of us. And all 11 of us deserve to participate fully, in an organisation that champions the wellbeing of this part of the world.

See also  Thriving as hybrid hotels

“If we do not demonstrate inclusivity within our organisation, all of our rhetoric would ring hollow. We must walk the talk, and we must demonstrate trust and support for one another,” the minister urged.

As ASEAN turns 58, Mohamad reflected on the decades of dedication by its leaders and citizens to building bridges across nations.

“I picture the women and men who have come before us, who poured their tears and sweat into building bridges between our nations, and the pride that I feel is immense,” he said, noting that “the work ahead will not be easy”.

“We, too, must pour our tears and sweat, into the future of our home. We will do it as one. The diversity of our region, far from being an obstacle, is symbolic of our power to build bridges.

“As we navigate the future together, let us recognise that our success depends on our unity, our resolve and our willingness to adapt to the demands of an ever-changing world.

See also  Zecon fixes issue price at 25 sen

“It is all in our hands,” Mohamad added.

This meeting brings together the foreign ministers and senior officials of all the 10 ASEAN Member States.

Also present were the Foreign Minister of Timor-Leste, Bendito Freitas, and the Secretary-General of ASEAN, Dr Kao Kim Hourn.

Malaysia officially assumed the chairmanship of the ASEAN 2025 on January 1, the fifth time it has led the regional grouping since its establishment in 1967.

Over 300 key meetings and programmes are scheduled to take place across the country throughout the year.

Malaysia has previously chaired ASEAN in 1977, 1997, 2005, and 2015. – BERNAMA

Related News

Most Viewed Last 2 Days

The New York Times)
Political prisoner Bolsonaro appeals to Trump
images (2)
1,000 eruptions and counting
USA-TRUMP--31_1737261312583_1737261330443
Inauguration day in Trump-style
deep_seabed_mining
Deep-sea investors see US$2 bln risk
WhatsApp Image 2025-01-20 at 10.34
Ramssol aims 200,000 used bike sales