ASEAN Building Open, Future-ready Trade Ecosystem - Minister Tengku Zafrul
KUALA LUMPUR, Sept 24 (Bernama) -- ASEAN is shaping a trade and investment ecosystem that is open, resilient, and future-ready, said Malaysia’s Minister of Investment, Trade and Industry Tengku Zafrul Abdul Aziz.
He said Malaysia, as ASEAN chair, is proud to lead efforts that turn dialogue into delivery.
“ASEAN does not wait for opportunity - we build it,” he said in a statement released after the engagement sessions of the ASEAN Economic Ministers (AEM) with Dialogue Partners from China, Japan, South Korea, and the United States.
The economic ministers of the Dialogue Partners in attendance were Chinese Vice Minister of Commerce Yan Dong; Japan’s Minister of Economy, Trade and Industry (METI) Muto Yoji; South Korean Minister for Trade Yeo Han-Koo; and the US Trade Representative Jamieson Greer.
Tengku Zafrul said ASEAN economic ministers have agreed in principle to forge stronger economic ties to promote trade and investments between ASEAN and its Dialogue Partners.
Among the Priority Economic Deliverables of ASEAN’s Economic Pillar under Malaysia’s chairmanship this year is the signing of the ASEAN-China Free Trade Agreement 3.0 (ACFTA 3.0) Protocol at the ASEAN Leaders’ Summit in October 2025. ACFTA 3.0 represents both sides’ commitment to an upgraded, rules-based, future-ready trade framework.
Discussions with South Korea centred on the planned upgrade of the ASEAN-Korea Free Trade Agreement (AKFTA), with particular emphasis on areas that are critical to shaping the future of ASEAN-Korea economic cooperation.
“These include the digital economy, critical minerals, supply chain resilience, micro, small, and medium enterprises (MSMEs), sustainability, and the green economy - all of which reflect our shared priorities in navigating an evolving global trade landscape,” he said.
During the AEM-US Consultation, the meeting discussed the review of the 2024-2025 Trade & Investment Framework (TIFA), particularly in areas such as the digital economy, MSME development, trade facilitation, and intellectual property, as well as endorsing the 2025-2026 TIFA Work Plan to advance these areas.
Meanwhile, Tengku Zafrul said in the AEM-Japan Consultation, the meeting focused on the progress of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement, discussing key issues such as supply chain resiliency, green economy and sustainability, digital economy, and building an inclusive ASEAN.
The ASEAN+3 (China, Japan, South Korea) Consultation discussed, among others, the need to enhance the utilisation of the Regional Comprehensive Economic Partnership (RCEP), digital economy, MSME capacity-building, and joint research initiatives.
-- BERNAMA
