ASEAN economic ministers discuss greater regional integration

Kuala Lumpur, May 25 (IANS) Greater regional and deeper cooperation were discussed by officials participating in the 25th ASEAN Economic Community Council (AECC) meeting, Malaysia's Minister of Investment, Trade and Industry said here on Sunday.

In his remarks as chair of the meeting, Tengku Zafrul Abdul Aziz said the current economic environment calls for collaboration and commitment to advancing common interests among the members of the Association of Southeast Asian Nations (ASEAN), Xinhua news agency reported.

"At the same time, we also internally need to look into ways to increase intra-ASEAN trade so as to reduce our dependencies towards external partners," he said.

He added that ASEAN's response in addressing the recent shifts in economic posture by the US has so far been measured, seeking dialogue rather than escalation, while keeping the grouping's interests at the forefront.

"The current economic environment that we're in calls not for retreat, but for renewed resolve," he said.

Zafrul also highlighted the progress made under the ASEAN Economic Community Blueprint 2025, which serves as the strategic roadmap for building a highly integrated and cohesive ASEAN economy.

"Through the Blueprint, ASEAN has made significant strides in areas such as trade liberalisation, investment facilitation, MSME (micro, small and medium enterprise) development, digital transformation, and sustainable economic initiatives," he said.

The 25th AECC meeting is being held in conjunction with the 46th ASEAN Summit, under Malaysia's 2025 chairmanship, themed "Inclusivity and Sustainability."

--IANS

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