Malaysian Official Highlights ASEAN's Economic Resilience Amid Global Disruptions
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Synopsis
Amid global economic challenges, a Malaysian official asserts that ASEAN's economic growth will align with forecasts. The emphasis is on internal unity and external partnerships to navigate disruptions.
Key Takeaways
- ASEAN's economic growth is on track despite global challenges.
- Strengthening internal cohesion and diversifying partnerships is crucial.
- RCEP initiatives are essential for economic integration.
- The unity of ASEAN is vital for ongoing success.
- Malaysia will chair ASEAN in 2025.
Kuala Lumpur, Feb 28 (NationPress) A Malaysian official stated that the economic growth of the Association of Southeast Asian Nations (ASEAN) members is expected to align with forecasts, despite facing challenges from global economic disturbances influenced by geopolitical factors. This was mentioned during his opening address at the ASEAN Economic Ministers' Retreat held in Johor.
The Investment, Trade and Industry Minister, Tengku Zafrul Abdul Aziz, emphasized that ASEAN has demonstrated remarkable economic resilience and clear indicators of recovery post-pandemic.
He noted, “It is essential for ASEAN to evaluate the dynamics of these circumstances and have the capacity to comprehend the potential outcomes that may significantly affect our regional economic framework.”
In addressing these obstacles, he stressed the importance of strengthening internal unity and diversifying external partnerships. He highlighted that enhancing economic integration within the region, expediting initiatives like the Regional Comprehensive Economic Partnership (RCEP), and collaborating with other global partners could alleviate the detrimental impacts of significant policy changes from major economies.
Zafrul reaffirmed that the bloc's unity is crucial for its ongoing success, underlining the necessity of adhering to the principles of peace, stability, mutual respect, and the commitment to fostering a brighter future for everyone, as reported by Xinhua.
He concluded by stating, “The spirit of ASEAN solidarity has been, and will remain, the cornerstone of our advancement. I urge everyone to engage in our discussions with an open mind, a collaborative spirit, and a dedication to promoting our collective interests.”
Malaysia is set to take on the bloc's rotating chairmanship in 2025.
