Jeju: ASEAN countries and Asia-Pacific Economic Cooperation (APEC) economies could pursue convergence in digitalisation initiatives to boost trade, investment, and transaction growth. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz emphasized this potential during the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting held in Jeju, South Korea.

According to BERNAMA News Agency, Tengku Zafrul stated that as the ASEAN chair, Malaysia has intensified efforts to finalize negotiations on the ASEAN Digital Economy Framework Agreement (DEFA) to support regional economic integration and foster the digital economy's growth. He highlighted opportunities to explore convergence between APEC's digital facilitation efforts and ASEAN's DEFA, including mutual recognition of digital credentials and trusted trader schemes, suggesting that such a model could be adopted within APEC.

Tengku Zafrul also addressed the significance of addressing the risks associated with artificial intelligence (AI). He urged APEC economies to remain vigilant of ethical and regulatory issues and technological disruptions from protectionism. The minister advocated for the creation of frameworks to strengthen data governance, ensuring safe cross-border data flows, enhancing cybersecurity, and moving towards interoperable AI standards to integrate businesses in the region.

Furthermore, he emphasized the importance of ensuring that the benefits of AI are equitably distributed, particularly highlighting the need for affordable and accessible AI-enabled trade tools for micro, small, and medium enterprises. He underlined that the convergence of AI and supply chain transformation is a strategic imperative for building resilience, sustainability, and competitiveness in the region.

Tengku Zafrul concluded by urging that discussions on AI remain a central focus within APEC and encouraging continued efforts to find a viable pathway forward.