Kuala lumpur: A total of RM926.187 million has been approved by the government to manage Malaysia's ASEAN 2025 Chairmanship, involving 326 meetings across the three main pillars of regional cooperation throughout this year, the Dewan Negara was told today. Foreign Minister Datuk Seri Mohamad Hasan noted that the account remains open due to ongoing ASEAN meetings until the year's end.
According to BERNAMA News Agency, the Foreign Ministry received an allocation of RM560 million to chair the political and security pillar. The Ministry of Investment, Trade and Industry is leading the economic pillar, while the Ministry of Tourism, Arts and Culture (MOTAC) oversees the social and cultural pillar. Mohamad provided this information during the oral question-and-answer session at the Dewan Negara sitting, responding to Senator Nik Mohamad Abduh Nik Abdul Aziz's inquiry about the total cost of hosting the 47th ASEAN Summit and measures to ensure prudent spending and economic returns.
Elaborating further, Mohamad highlighted Malaysia's historical achievement under its chairmanship, hosting the ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit. This accomplishment is unprecedented for a chair country, given the strategic strengths of these blocs in natural resources, capital, and large markets. Malaysia aims to boost intra-ASEAN trade, currently under 25 per cent, to lessen reliance on traditional markets.
Under Malaysia's leadership, the Regional Comprehensive Economic Partnership (RCEP) negotiations, stalled since 2020, were successfully revived, and the renegotiation of the ASEAN Trade in Goods Agreement (ATIGA) was initiated. Addressing the economic returns from hosting ASEAN, Mohamad clarified that the summit is not a bidding event like a sports event but a periodic mandate every 10 years, offering long-term benefits through policy decisions, outcome documents, and strengthening the ASEAN bloc with over 700 million people.
Additional benefits are anticipated through platforms like ATIGA, the ASEAN Digital Economy Framework Agreement (DEFA), and RCEP, aimed at fostering regional growth. Malaysia's strategic position continues to draw high-tech and data centre investments. Mohamad cited the Johor-Singapura Special Economic Zone (JSSEZ), which has attracted RM17 billion in investments since its inception this year, as multinational companies opt for Johor due to Singapore's high operating costs.
On geopolitical matters, Mohamad stated that Malaysia's significant success was promoting an inclusive agenda by admitting Timor-Leste as the 11th ASEAN member after a decade-long wait, a result of consistent diplomacy.