KUALA LUMPUR: Asean remains united in upholding a rule-based trading system anchored by the World Trade Organization (WTO), guided by the principles of centrality and neutrality, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said Asean continues to demonstrate its commitment to cooperation, openness and shared prosperity amid shifting global economic dynamics.
“In Asean, we are together, and we continue to believe in a rule-based trading system with the WTO at its core.
“At the same time, we are here together to show that we are driven by a principle of centrality and neutrality,” Tengku Zafrul said at the Bloomberg Business Summit on Asean.
He added that the region’s unity and commitment to multilateral cooperation were demonstrated through a series of major trade developments this week.
“For Asean, it’s a very important, momentous occasion. We signed the upgraded Asean Trade in Goods Agreement (Atiga) today, and tomorrow we will be signing an upgrade of the Asean-China Free Trade Agreement 3.0,” he said.
He noted that Asean leaders will also convene for the first time since the signing of the Regional Comprehensive Economic Partnership (RCEP) in 2020.
“These milestones come at a time when people are questioning the economic model and whether multilateralism still works,” he added.
Turning to Malaysia’s performance, Tengku Zafrul highlighted the nation’s strong economic fundamentals and rising investor confidence.
“Malaysia is the number one country in terms of investments, and that’s because we’ve built the right ecosystem — stability, early growth and sound gross domestic product (GDP) forecasts.
“We are on track to achieve 5.2 per cent GDP growth in the third quarter,” he said.
He said that for the first half of 2025, investments rose by 15 per cent, trade grew by 5.0 per cent, and the country’s GDP is expected to surpass the forecast of 4.8 per cent.
“All economic indicators — inflation, unemployment, interest rates — show that we’re moving in the right direction,” he said, adding that Prime Minister Anwar Ibrahim has been Malaysia’s “best salesman” in promoting the country’s economic strengths abroad.
Tengku Zafrul concluded his remarks by urging the audience to continue their faith in the region’s collective growth.
“I hope that all of us in this room will continue to believe in Asean and continue to believe in Malaysia,” he said.
© New Straits Times Press (M) Bhd
