KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has called on Asean to step up efforts in strengthening regional trade and production linkages to fully tap into its economic potential.
FMM noted that intra-Asean trade currently makes up just 22 per cent of the region’s total trade, compared to 60 per cent in the European Union.
Its president, Tan Sri Soh Thian Lai, said narrowing this gap is crucial for Asean to realise its economic potential and enhance long-term supply chain resilience.
“This includes advancing mutual recognition of standards, harmonising digital Customs platforms, and fostering regulatory coherence,” he said in a statement.
Soh also praised Prime Minister Datuk Seri Anwar Ibrahim’s successful mediation in easing tensions between Thailand and Cambodia, highlighting it as a reflection of Malaysia’s increasing influence in fostering a more united and stable Asean.
“This significant diplomatic breakthrough not only averted the escalation of a regional conflict but reaffirmed Asean’s capacity to act collectively in resolving complex geopolitical issues through dialogue and pragmatic leadership,” he said.
Soh said that political stability within Asean is vital for advancing economic integration.
He added that the easing of tensions between two major Asean members boosts investor confidence and highlights the value of regional solidarity.
“As the region becomes increasingly interconnected through shared production networks, seamless trade and cross-border investments, sustained peace is essential to ensure the uninterrupted functioning of regional supply chains and trade flows.
“The commitment to peace should now be matched by bold steps to accelerate Asean’s economic collaboration,” the president said.
Soh said FMM is dedicated to collaborating with the government and regional partners to drive these goals forward and help Asean evolve into a more integrated, stable, and competitive economic bloc.
© New Straits Times Press (M) Bhd
