Kuala lumpur: Malaysia is focusing on strengthening the ASEAN economic framework by boosting intra-ASEAN trade to ensure the continuity of the region's agenda, said Foreign Minister Datuk Seri Mohamad Hasan. He emphasized that amid growing global uncertainty, emphasis is now being placed on reinforcing regional economic ties to reduce dependence on traditional external trading partners.
According to BERNAMA News Agency, Mohamad highlighted that trade among ASEAN member states is currently very low, not even reaching 25 percent. He stated, "We can't rely too heavily on our traditional trading partners. Therefore, we've introduced a framework to ensure that trade among ASEAN countries is enhanced," during Minister's Question Time in the Dewan Rakyat.
He was responding to a supplementary question from Manndzri Nasib (BN-Tenggara) regarding the key initiatives planned to ensure the continuity of ASEAN's agenda post-Malaysia's chairmanship. Mohamad mentioned that key initiatives being pursued include the implementation of ASEAN Vision 2045, a 20-year plan themed "Our Shared Future," aimed at raising ASEAN's economic standing to be on par with its existing political influence.
He elaborated, "We need to enhance economic activities among ourselves .even if we increase (intra-ASEAN trade) to 30 or 40 percent, that would be a significant achievement to reduce the dependence of ASEAN countries, especially Malaysia."
Furthermore, Mohamad stated that Malaysia is diversifying its markets through participation in the BRICS bloc, which represents over 40 percent of the world's population and 25 percent of global GDP, while also promoting a strategic trilateral partnership between ASEAN, the Gulf Cooperation Council (GCC), and China. He noted the potential economic benefits of integrating these three major blocs, citing the strong purchasing power of Gulf countries, ASEAN's large workforce, and China's vast market.
Responding to Manndzri's original question on Malaysia's foreign policy achievements during its ASEAN chairmanship, Mohamad acknowledged the Myanmar issue as a key challenge for ASEAN in maintaining regional stability and peace. He described Myanmar's internal conflict as a 'thorn in the flesh' that undermines ASEAN's credibility in championing peace and human rights. Despite this, he affirmed that Malaysia has made efforts to identify viable peaceful approaches and stressed the priority of implementing the Five-Point Consensus agreed upon by all member states, particularly in not recognizing the unilateral elections planned by the Myanmar junta.