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ASEAN eyes fourth largest economy by 2030

ASEAN has set up various mechanisms to support this goal, such as free movement of goods aimed at making it easier to boost regional trade.

Cargo is handled at a container terminal in Hai Phong city of Vietnam. (Photo: VNA)
Cargo is handled at a container terminal in Hai Phong city of Vietnam. (Photo: VNA)

Kuala Lumpur (VNA) – ASEAN eyes being the world’s fourth largest economy by 2030, but intra-trade among the countries is still under 25%, said Malaysian Foreign Minister Mohamad Hasan.

Speaking at an August 10 press conference marking the 59th ASEAN Day (August 8, 1967-2026), Hasan urged ASEAN to further foster trade relations among its member states. According to him, ASEAN has set up various mechanisms to support this goal, such as free movement of goods aimed at making it easier to boost regional trade.

Earlier, Hasan chaired a ceremony marking the ASEAN’s 59th anniversary hosted by the Malaysian Ministry of Foreign Affairs, with around 300 guests in attendance.

In a statement, the ministry said this year’s ASEAN Day marks a key milestone in the bloc’s journey. Built on three main pillars of politics-security, economy, and socio-culture, ASEAN continues to show the strength, solidarity and resilience of its community. Malaysia, it noted, has spent 59 years cooperating with, contributing to, and demonstrating its commitment to ASEAN.

The statement affirmed that the ASEAN Day celebration reflects the bloc’s shared commitment while further bolstering the bonds that unite Southeast Asian nations./.

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