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Malaysia to focus on leveraging RCEP as ASEAN chair: Trade minister

12 Jan '25
1 min read
Malaysia to focus on leveraging RCEP as ASEAN chair: Trade minister
Pic: Adobe Stock

Insights

  • Malaysia will focus on leveraging the Regional Comprehensive Economic Partnership (RCEP) by fully implementing it as the 2025 ASEAN chair, according to the country's investment, trade and industry minister Tengku Zafrul Aziz.
  • Malaysia also intends to strongly drive negotiations on the ASEAN Digital Economy Framework Agreement launched in 2023, the minister said.
Malaysia will focus on leveraging the Regional Comprehensive Economic Partnership (RCEP) by fully implementing it as the 2025 chair of the Association of Southeast Asian Nations (ASEAN), according to the country’s investment, trade and industry minister Tengku Zafrul Aziz.

“This could be the key highlight of Malaysia’s chairmanship,” he said in his closing remarks at the ASEAN Economic Opinion Leaders Conference in Kuala Lumpur recently.

RCEP has 15 countries, including ASEAN member countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The other five are Australia, China, Japan, South Korea and New Zealand.

Malaysia also intends to strongly drive negotiations on the ASEAN Digital Economy Framework Agreement launched in 2023, Aziz was cited as saying by a news agency.

“By 2030, the digital economy could add $2 trillion (RM 9 trillion) to the region, but for that to happen, Malaysia must help ASEAN nations harmonise their digital policies,” he said.

The country will also propose a joint declaration on the ASEAN-Gulf Cooperation Council economic cooperation during the 46th ASEAN summit in May, the minister added.

Fibre2Fashion News Desk (DS)

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