Kuala Lumpur (VNA) – Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz has called on member states of the Association of Southeast Asian Nations (ASEAN) to implement structural economic reforms to enhance resilience in the face of global challenges and geopolitical shifts.
Addressing the PRAXIS 2025 Public Policy Conference on August 7, he said there is value in the willingness to have dialogue with all like-minded partners and in upholding the principles of non-alignment.
The minister said ASEAN had remained intact in the face of US President Donald Trump's “Liberation Day” tariff challenges, saying the tariffs posed a challenge to the bloc’s unity and coherence but it held on to its non-retaliatory approach.
Meanwhile, he said Malaysia remains focused on delivering key transformation blueprints such as the New Industrial Master Plan 2030 and the 13th Malaysia Plan, which promote innovation, inclusivity and long-term resilience.
Malaysia has signed and implemented nine bilateral and nine regional free trade agreements as it remains steadfast in its support of an open, transparent and rules-based global trade order, he said.
As the 2025 ASEAN Chair, Zafrul said Malaysia had tabled 18 priority economic deliverables with more than half of trade-related targets already met, including the conclusion of negotiations to upgrade the ASEAN Trade in Goods Agreement and the ASEAN-China Free Trade Area.
These upgraded agreements expand cooperation into services, e-commerce and small and medium enterprises. This marks a step forward in transforming ASEAN into a more cohesive economic bloc, he said./.
