Malaysian PM: ASEAN on path to world’s 4th largest economy by 2050 hinh anh 1Malaysia Prime Minister Najib Abdul Razak (Photo:netnewsledger)

Malaysian Prime Minister Najib Razak on August 4 said that ASEAN, as an increasingly integrated bloc, is on course to be the world’s fourth largest economy by 2050.

Speaking at the 48 th ASEAN Foreign Ministers’ Meeting (AMM 48) in Kuala Lumpur, Malaysia, Najib said even some estimate that only 15 years from now, by 2030, ASEAN could be the fourth largest market after the EU, the US and China.

According to the PM, ASEAN has the third biggest workforce, after India and China, hence it can see itself as a “third force” in Asia.

Mentioning reports of several renowned institutions and some experts’ remarks, he said ASEAN is facing great opportunities and has gained significant achievements, adding that the bloc should play a more active role on the global arena.

Najib said since the first ASEAN Ministerial Meeting in Bangkok in 1967, the group has had an admirable success, ensuring harmony in one of the most diverse parts of the world.

The PM said the ASEAN Community Vision 2025 will be approved at the 27 th ASEAN Summit in November 2015, and a single community for ASEAN will be officially shaped by December this year, emphasing the need to narrow the gap among the 10 member states which are at different development stages.-VNA