HLTF-EI Underscores ASEAN Needs To Accelerate Intra-regional Trade, Investments -- MITI Sec-gen
By Mohd Khairi Idham Amran
KOTA TINGGI, Feb 25 (Bernama) -- The 47th High-Level Task Force on ASEAN Economic Integration (HLTF-EI) that convenes for the second day today underscores the need for ASEAN to accelerate efforts in deepening intra-regional trade and investment to bolster economic resilience.
Ministry of Investment, Trade and Industry secretary-general Datuk Hairil Yahri Yaacob said that among key takeaways during the first day of the meeting are enhancing trade resilience through upgraded free trade agreements and better utilisation of the Regional Comprehensive Economic Partnership (RCEP).
He said other takeaways are expanding trade partnerships beyond traditional markets to reduce dependency and unlock new growth opportunities as well as strengthening ties with the United States through the ASEAN-US Trade and Investment Framework Arrangement (TIFA) and the Expanded Economic Engagement (E3) in high-value sectors like semiconductors, green technology and digital services.
Hairil Yahri said the meeting also addressed inflationary pressures and climate-related disasters by expediting green investments and sustainable practices.
“ASEAN is at a pivotal juncture, moving from ASEAN Economic Community (AEC) Blueprint 2025 towards ASEAN Community Vision (ACV) 2045.
“By deepening intra-regional trade, diversifying our partnerships and accelerating the green transition, we are not only building economic resilience but also positioning ASEAN as a global leader in sustainable growth,” he said.
He told Bernama after hosting the welcoming dinner of the 47th Meeting of HLTF-EI in Desaru here yesterday.
Hairil Yahri said Malaysia’s ASEAN chairmanship prioritises actionable and impactful economic deliverables, therefore, the HLTF-EI exchanged views on managing risks and ensuring the timely completion of 2025 Priority Economic Deliverables (PEDs).
He said the HLTF-EI also encouraged sectoral bodies to extend support, particularly for cross-cutting PEDs and urged ASEAN member states (AMS) and sectoral bodies to provide regular progress updates to the ASEAN Secretariat for effective monitoring.
“Malaysia is committed to delivering tangible outcomes that are inclusive and sustainable in line with Malaysia’s ASEAN chairmanship theme.
“Through collaboration and timely execution, we aim to strengthen economic integration and ensure ASEAN remains a dynamic and competitive region,” he said.
The HLTF-EI convenes prior to the ASEAN Economic Ministers (AEM) Retreat, chaired by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz, that is scheduled to take place on Feb 28.
The retreat is being held in conjunction with Malaysia’s chairmanship of ASEAN with the theme “Inclusivity and Sustainability”, reflecting Malaysia's aspiration towards building a more inclusive and sustainable ASEAN community.
-- BERNAMA