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Malaysia identifies factors for ASEAN to tackle global trade disruption

Speaking at a meeting of foreign ministers from ASEAN ahead the 46th ASEAN Summit in Malaysia,Malaysian Foreign Minister Mohamad Hasan emphasised that ASEAN nations are among those most heavily affected by the US-imposed tariffs.

Kuala Lumpur (VNA) – Malaysian Foreign Minister Mohamad Hasan has said the Association of Southeast Asian Nations (ASEAN) member states must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout and global trade disruptions from sweeping US tariff hikes.

Speaking at a meeting of foreign ministers from ASEAN ahead the 46th ASEAN Summit in Malaysia on May 25, Hasan emphasised that ASEAN nations are among those most heavily affected by the US-imposed tariffs.

The US-China trade tension is dramatically disrupting production and trade patterns worldwide. A global economic slowdown is likely to happen.

He said ASEAN countries must seize this moment to deepen regional economic integration, so that they can better shield ASEAN from external shocks.

Hasan said that for ASEAN, unity is now more important than ever because external pressures are rising, and the scope of challenges has never had higher stakes, including the impacts of climate change, disruption from the use of artificial intelligence and other unregulated technologies.

ASEAN countries are reeling from tariffs imposed by President Donald Trump. Six of the association’s 10 member states were among the worst-hit with tariffs ranging from 32 to 49%.

VNA
#Malaysia #ASEAN #trade disruption #US tariff #economic integration
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