ASEAN Economic Ministers To Endorse 18 Priority Economic Deliverables At Upcoming Retreat

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Feb 6 (Bernama) -- ASEAN Economic Ministers (AEM) are set to endorse 18 Priority Economic Deliverables (PEDs) at the upcoming AEM’s Retreat in Johor at the end of February, aiming to drive regional economic integration, inclusivity, sustainability and digital trade.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia, as the ASEAN chair for 2025 and the lead for the economic pillar, is optimistic about achieving consensus on these PEDs, which will be presented at the ASEAN Leaders’ Summit in November.

He said senior officials have already convened in Kuching to prepare recommendations for ministerial approval.

“We hope that all ASEAN ministers will agree on the 18 PEDs so that we can implement them effectively.

“The PEDs are anchored on four key thrusts: deepening economic integration, promoting inclusive growth, advancing sustainability and expanding the digital economy,” he told Bernama after the Bernama TV programme ‘Ruang Bicara Aspirasi Ekonomi’ yesterday night (Feb 5).

Tengku Zafrul said that the focus on inclusivity aims to ensure that micro, small, and medium enterprises (MSMEs), women entrepreneurs, and youth benefit from ASEAN’s economic growth.

He said that among the key initiatives is the Digital Economy Framework Agreement (DEFA), a pact among ASEAN nations to boost digital trade and e-commerce, particularly benefiting MSMEs.

“If we only focus on large corporations, trade growth will not reach its full potential, as a significant portion of registered businesses in ASEAN are MSMEs,” he said.

The minister also highlighted that energy cooperation is also a major agenda, with discussions on developing an ASEAN power grid, particularly for renewable energy.

“ASEAN nations need to collaborate more on renewable energy, an area frequently highlighted by Prime Minister Datuk Seri Anwar Ibrahim.

“We at the Ministry of Investment, Trade and Industry (MITI) will work closely with the Ministry of Energy Transition and Water Transformation (PETRA) to drive this agenda,” he said.

Tengku Zafrul said beyond intra-ASEAN trade, the bloc aims to enhance free trade agreements (FTAs) with key partners such as China and India to boost trade in goods and services.

“There is also a strategic push to strengthen cooperation in high-growth sectors like semiconductors and electric vehicles (EVs), positioning ASEAN as a unified investment hub rather than as competing individual nations.

“We must continue to uphold multilateral, rules-based trade, including World Trade Organization (WTO) principles, the Paris Agreement, and our existing FTAs. Open trade remains crucial for economic growth,” he said.

Tengku Zafrul also stressed the importance of ASEAN speaking with a unified voice in the global economic and geopolitical landscape.

-- BERNAMA