Kuala lumpur: The ASEAN+3 Macroeconomic Research Office (AMRO), a prominent regional policy advisory firm, has emphasized the importance of advancing services liberalisation, strengthening trade facilitation, and internationalising regional firms as essential components for achieving deeper economic integration within ASEAN.
According to BERNAMA News Agency, AMRO chief economist Dong He highlighted that ASEAN's focus on digitalisation, sustainable and inclusive growth, and convergence under the ASEAN Economic Community (AEC) Strategic Action Plan 2026-2030 is a positive step forward. He noted in an interview that to realize these objectives, ASEAN should move beyond mere tariff reduction.
AMRO plays a crucial role in ensuring the macroeconomic and financial resilience and stability of the ASEAN+3 region by conducting surveillance, supporting regional financing arrangements, providing technical assistance, serving as a regional knowledge hub, and facilitating financial cooperation. The ASEAN+3 encompasses 14 member economies, including the 10 ASEAN member states along with China, Japan, and South Korea.
Dong He further remarked that ASEAN must utilize external linkages to enhance domestic capabilities and bolster the growth and internationalisation of regional firms ahead of the upcoming 47th ASEAN Summit, which will be hosted by Malaysia. He asserted that the AEC aims to transform the region into an integrated economic space rather than just a collection of open economies.
AMRO projects a moderate growth for ASEAN+3, expecting it to slow to 4.1 percent in 2025 and 3.8 percent in 2026, down from 4.3 percent this year, due to weaker external demand and a more uncertain policy environment. For ASEAN specifically, growth is anticipated to ease to 4.6 percent in 2025 and 4.3 percent in 2026, though it remains above the global average.
Dong He also warned of multiple risks to regional growth, such as prolonged trade tensions, divergent policy stances among major economies, and increased financial market volatility. He emphasized that China's economic transition is a key factor in ASEAN's economic pursuits, with rapid advancements in green technology, electric vehicles, and advanced manufacturing helping to offset weaknesses in real estate and construction.