Desaru: The 31st ASEAN Economic Ministers (AEM) Retreat is poised to witness the endorsement of 18 Priority Economic Deliverables (PEDs) and a comprehensive review of the ASEAN Economic Community (AEC) Strategic Plan for 2026-2030, as anticipated by officials. The retreat, scheduled to take place in Desaru on Friday, will gather ministers from all ASEAN member states to deliberate on these critical economic initiatives.
According to BERNAMA News Agency, Datuk Hairil Yahri Yaacob, Secretary-General of Malaysia's Ministry of Investment, Trade and Industry (MITI), emphasized the significance of obtaining ministerial approval for the PEDs, which aim to enhance regional economic integration, inclusivity, sustainability, and digital trade. He highlighted the retreat as a pivotal moment for securing the necessary buy-in from ministers, which will enable the commencement of implementation efforts across ASEAN nations.
Hairil expressed confidence that ministerial endorsement of the PEDs will initiate concerted efforts among all ASEAN members to ensure successful implementation. The main objective of the retreat, he noted, is to achieve consensus on these deliverables.
MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz, also speaking to BERNAMA earlier this month, conveyed optimism about attaining agreement on the PEDs. As ASEAN chair for 2025 and lead for the economic pillar, Malaysia is committed to presenting these deliverables at the ASEAN Leaders' Summit in November.
In addition to the PEDs, the retreat will address the AEC Strategic Plan 2026-2030, which is integral to the broader ASEAN Community Vision 2045 (ACV 2045). Hairil explained that the strategic plan adopts a staggered, five-year approach, with future plans covering 2031-2035 and beyond.
MITI aims for ASEAN ministers to recognize the progress achieved thus far, with the expectation that by May 2025, a new five-year strategic framework for economic cooperation will be finalized.
The High-Level Task Force on ASEAN Economic Integration (HLTF-EI) is currently engaged in discussions concerning the 18 PEDs and the strategic plans. These talks will continue at the Preparatory Senior Economic Officials' Meeting (Prep-SEOM), a two-day event commencing tomorrow, where proposals will be prepared for presentation to ministers at the retreat on February 28.
Hairil expressed confidence in achieving unanimous endorsement from the ministers for all 18 PEDs. Following approval, the implementation process will commence across relevant statutory bodies and working groups under the economic pillar.
Tengku Zafrul is anticipated to preside over the AEM retreat on February 28. Preliminary meetings, including the 12th Working Group-ASEAN Economic Community (WG-AEC) Meeting and the 47th High-Level Task Force on Economic Integration (HLTF-EI) Meeting, have already taken place in preparation for the retreat. The Preparatory Senior Economic Officials' Meeting (SEOM) is scheduled for February 26-27.