Malaysia Sees ASEAN As Strategic Growth Region Amid Global Challenges - MITI

KUALA LUMPUR, Aug 20 ( Bernama) — Malaysia views ASEAN as a region with vast untapped potential -- poised to become a dynamic engine of growth and resilience amid global uncertainties, according to the Ministry of Investment, Trade and Industry (MITI). 

MITI Deputy Secretary General (Trade) Mastura Ahmad Mustafa said ASEAN is more than just a large market, it is a reservoir of innovation, creativity and energy with a population nearing 700 million, almost one third of whom are youth. 

“Our demographic dividend, coupled with a rapidly growing consumer class, rising connectivity and accelerating digital adoption, gives ASEAN a unique advantage.

“If nurtured in accordance with the principles of sustainability and inclusivity, these strengths will not only fortify our region’s growth but also position ASEAN to play a defining role in shaping the future of the global economy,” she said in her speech at the welcome dinner for the Senior Economic Officials’ Meeting (SEOM) 3/56 and Related Meetings today. 

Under the ASEAN chairmanship, Mastura said Malaysia is working to deepen regional integration, strengthen supply chain resilience, foster sustainable and responsible investment and advance digital innovation. 

“More importantly, we are committed to creating opportunities for businesses of all sizes, especially micro, small and medium enterprises to participate meaningfully in ASEAN’s growth story,” she added. 

In a separate statement, MITI said key discussions at SEOM 3/56 focused on Malaysia’s Priority Economic Deliverables under its 2025 ASEAN chairmanship; updates on the 2025 Annual Priorities under the AEM/SEOM purview; implementation of ASEAN agreements; advancement of the Digital Economy Framework Agreemen; and ASEAN’s sustainability agenda, including carbon neutrality, circular economy, and the ASEAN Power Grid.

MITI is hosting the SEOM 3/56 and Related Meetings from Aug 18 to 23 in Kuala Lumpur.

The ministry said that discussions with ASEAN Dialogue Partners focused on reviewing progress and addressing key issues related to the implementation of existing Free Trade Agreements (FTAs), as well as the status of work plans and ongoing economic cooperation initiatives. 

— BERNAMA