Kuala lumpur: ASEAN must strengthen food, energy, and digital security, while building institutional capacity to anticipate and mitigate any geopolitical and economic risks before they escalate into crises. Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz emphasized this during the ASEAN Joint Foreign and Economic Ministers' Meeting, marking the first such gathering in over two decades.
According to BERNAMA News Agency, Tengku Zafrul highlighted the importance of protecting the stability of regional and global supply chains. He stressed the need for securing access to critical goods, energy, and technologies while reducing overdependence on any single market or production source. He noted that while some nations equate economic security with isolation or protectionism, ASEAN should remain open yet secure in its approach.
He further elaborated on the importance of ASEAN as a major regional bloc in upholding a rules-based multilateral trading system, which is vital for global stability and shared prosperity. Tengku Zafrul advocated for more focused and high-impact reforms at the World Trade Organisation (WTO), particularly in areas like enhancing subsidy transparency, establishing digital trade governance, and restoring trust in dispute settlement mechanisms. These reforms, he argued, are essential to rebuilding trust and confidence in global trade rules.
In addition, Tengku Zafrul underscored the timeliness of strengthening regional economic security to better manage and respond to emerging risks across economic and political spheres. He expressed optimism about the ASEAN Geoeconomics Task Force (AGTF), established earlier this year, stating that it will provide valuable inputs to help shape the region's future.