ASEAN resilience to overcome trade, geopolitical disruptions: Malaysian official

Kaula Lumpur, Feb 28 (IANS) Economic growth among members of the Association of Southeast Asian Nations (ASEAN) will meet projections despite the disruptive impact of global economic headwinds stemming from geopolitical influences and shifts, a Malaysian official said on Friday.

In his opening speech at the ASEAN Economic Ministers’ Retreat in Johor state, Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz said ASEAN has showcased impressive economic resilience and strong signs of post-pandemic recovery.

“It is prudent for ASEAN to assess the dynamics of these situations and possess the ability to understand the eventualities that may significantly impact our regional economic landscape,” he said.

“In response to these challenges, it is vital for us to enhance internal cohesion and diversify our external partnerships,” he said, adding that strengthening economic integration within the region, accelerating initiatives like the Regional Comprehensive Economic Partnership (RCEP), and engaging with other global partners could mitigate the adverse effects of policy shifts by major economies.

Zafrul also said that the bloc’s unity is key to its continued success, the importance of keeping faithful to the values of peace, stability, mutual respect, and the determination to ensure a better future for all, Xinhua news agency reported.

“The spirit of ASEAN solidarity has been, and will continue to be, the foundation of our progress. I encourage all of us to approach our discussions with an open mind, a spirit of collaboration, and a commitment to advancing our common interests,” he said.

Malaysia has assumed the bloc’s rotating chairmanship for 2025.

–IANS

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