Kuala Lumpur: ASEAN is seeking to expand membership in two key trade agreements - the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - as part of efforts to strengthen regional economic integration. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the matter was discussed when he chaired the ASEAN Caucus Meeting held in conjunction with the 31st Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, South Korea.
According to BERNAMA News Agency, Tengku Zafrul mentioned that among the matters discussed in the meeting was the expansion of RCEP and CPTPP membership. Currently, only four ASEAN countries are members of the CPTPP, namely Brunei, Malaysia, Singapore, and Vietnam.
Tengku Zafrul is leading Malaysia's delegation to Jeju, where trade ministers from the 21 APEC member economies are gathering for the two-day MRT meeting that starts today. He noted that the recent United States tariff announcement had a significant impact on intra-ASEAN trade dynamics and with trading partners, particularly in sectors entrenched in the global supply chains.
Tengku Zafrul emphasized that ASEAN's adherence to the principles of neutrality and non-alignment allows the region to voice its position independently in forums such as APEC. He described APEC as an important platform to raise the concerns and interests of the world's fifth-largest economy. During the meeting, ASEAN unanimously reaffirmed its stance to uphold the multilateral trading system and reject any form of unilateralism.
Tengku Zafrul highlighted the importance of upholding multilateralism, a core principle of the World Trade Organisation, to boost regional economic integration. As part of efforts to strengthen regional cooperation, ASEAN plans to hold special consultative sessions with major trading partners, starting with China and Japan. The ASEAN Economic Ministers (AEM)-China Ministry of Commerce (MOFCOM) and AEM-Japan's Ministry of Economy, Trade and Industry (METI) Special Consultations are scheduled for May 20.
He also stated that ASEAN needs to adopt a united approach and speak collectively during the APEC MRT Meeting, particularly in addressing the current global tariff issue. Tengku Zafrul concluded by affirming Malaysia's commitment to making its ASEAN chairmanship a defining year for deeper ASEAN economic integration.