Anwar: Malaysia’s strategy as Asean chair in 2025 is for grouping to bolster regional value chains

VIENTIANE (Oct 9): Malaysia has outlined three strategies for Asean when it takes over the grouping’s chairmanship in 2025, including bolstering regional value chains and regulatory cooperation.

Addressing the 44th Asean Summit Plenary Session today, Prime Minister Datuk Seri Anwar Ibrahim, said this is crucial to expand trade and investment linkages as well as to foster digital transformation in the region.

The other two strategies are strengthening member countries’ fundamentals and reinventing, restructuring and recalibrating their economies while leveraging each other’s strengths.

“(Asean) needs to redraw and secure the regional supply chain and its linkages to the global economy.

“I believe that if we pursue this course with determination and commitment, Asean can achieve economic resilience and be on track to become the fourth largest economy by 2030,” said Anwar.

As incoming Asean Chair, Anwar was the second leader to speak after Lao Prime Minister Sonexay Siphandone at the plenary session.

All the leaders from Asean’s 10 member countries attended the plenary session, held at the National Convention Center (NCC), here.

Anwar said that intra-Asean trade has remained low for the past few decades despite the phenomenal economic growth experienced in Southeast Asia.

“I believe there is vast potential for enhancement in this regard, particularly so with the upgrading of the Asean Trade in Goods Agreement (Atiga) to be signed in 2025,” he said.

The summits will conclude on Oct 11, with Laos handing over the Asean chairmanship to Malaysia during the closing ceremony. – Bernama