Malaysia Anchors ASEAN's Call For Rules In South China Sea
In a keynote speech delivered on his behalf by Malaysian Investment Development Authority (MIDA) chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid at the ASEAN Business Forum 2025, Tengku Zafrul said Malaysia is also strengthening its engagements with strategic partners across the Gulf Cooperation Council (GCC), Europe, and the United States.
'The recent ASEAN–GCC–China Summit has also positioned our region as a bridge between Asia, the Middle East, and beyond,' he said.
'This trilateral partnership offers an opportunity to combine China's technology and infrastructure capacity, the GCC's energy and capital, and ASEAN's market and industrial dynamism into a new engine for growth and resilience.'
He added that ASEAN's newly operational Geoeconomics Task Force — co-chaired by Malaysia and Indonesia — is already offering real-time economic analysis, scenario modelling, and coordinated policy advice to help the bloc manage risks and seize emerging opportunities.
Tengku Zafrul also stressed that ASEAN ministers have 'reaffirmed an unwavering commitment to a rules-based multilateral trading system, with the World Trade Organisation (WTO) at its core'.
'Our joint statements underscore a mature, forward-looking approach as ASEAN will respond to external shocks not with retaliation, but with deeper engagement, open dialogue, and collective solutions,' he said.
Highlighting ASEAN's resilience, he concluded: 'As the world undergoes a profound realignment, ASEAN's unity and centrality matter more than ever. From the Asian Financial Crisis (in 1997) to the pandemic to the present day, ASEAN has shown the world that collective action, trust, and shared purpose are the bedrock of our success.' Related
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Sentiment likely to improve in second half
CGSI Research has put its year-end-2025 FBM KLCI target at 1,670 points. PETALING JAYA: After a tumultuous first half triggered by external headwinds, one research house sees the market staging a comeback in the second half of 2025 (2H25), albeit with volatility. CGS International (CGSI) Research said that it sees US tariff tensions ebbing in 2H25, although it remained cognisant that bouts of escalations could still sprout within the broader de-escalating trend. 'As tariff negotiations between Malaysia and the United States appear to be progressing well, we are cautiously optimistic that a mutually beneficial outcome can be achieved,' it told clients in a report. It said given their record low shareholding, it reckons foreign investors have yet to fully appreciate Malaysia's ongoing rejuvenation – which is already seeing economic reforms in motion, influx of approved investments and a more stable political landscape. CGSI Research has put its year-end-2025 FBM KLCI target at 1,670 points, premised on a 15 times price earnings (P/E) tagged to the 2025 earnings per share. 'Our ascribed P/E multiple is in line with its post-pandemic average,' the research house said. 'Rock-bottom foreign shareholding offers a downside cushion, we opine.' CGSI Research said the ongoing tariff woes will still have an impact on Malaysia's open economy. Its 2025 gross domestic product forecast of 4.2% year-on-year (y-o-y) is below the government's 4.5% to 5.5% projection. 'Still, we get a sense that this has not deterred the unity government from its economic reform agenda. Revisions to the sales and service tax were done twice (in March 2024 and July 2025) to broaden the public revenue base, while subsidy rationalisation efforts are ongoing.' The research house also noted that the government has developed various strategic plans, which have helped boost approved investments in Malaysia to new record highs. 'In our view, this has started to bear fruit, evident from the robust growth in gross fixed capital formation averaging 11.6% y-o-y from the first quarter of 2024 (1Q24) to 1Q25. Malaysia's political landscape is also now on firmer ground with Prime Minister Datuk Seri Anwar Ibrahim and his government outlasting the past three administrations, alongside a rise in approval ratings.' CGSI Research noted in 1H25, the benchmark FBM KLCI declined by 6.7% with the losses largely cushioned by the ringgit's 6.2% appreciation, bringing its currency adjusted returns to a slight dip of 0.9% over the said period. Nevertheless, the latter still lagged the regional MSCI AC Asean Index which gained 3.4% in 1H25, mostly aided by Singapore's stock market benchmark index.
The Sun
2 hours ago
- The Sun
PM Anwar arrives in Paris for official visit to France
PARIS: Prime Minister Datuk Seri Anwar Ibrahim has arrived in Paris for his first official visit to France at the invitation of President Emmanuel Macron. The Malaysian delegation landed at Pavillon d'Honneur Orly Airport at 4.10 pm local time after concluding a three-day working visit to Rome. Malaysia's Ambassador to France, Datuk Eldeen Husaini, along with French officials, welcomed Anwar upon arrival. The visit underscores France's commitment to strengthening diplomatic and economic ties with Malaysia since Anwar became prime minister in 2022. Tonight, Anwar will engage with 250 members of the Malaysian diaspora in France. On Friday, he is scheduled for a one-on-one meeting with Macron at the Élysée Palace, where discussions will cover trade, investment, renewable energy, semiconductors, defence, education, digital economy, and artificial intelligence. Both leaders are also expected to address the humanitarian crisis in Gaza. Anwar will also attend Friday prayers at the Grand Mosque of Paris, one of France's oldest mosques, before delivering a lecture titled 'Southeast Asia and Europe: Recalibrating the Terms of Engagement' at Sorbonne University. The prime minister is accompanied by several ministers, including Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz. A key focus of the visit is attracting French investment, with Anwar set to meet industry leaders from companies such as Imerys, Arkema, Airbus, and Thales. France is among Malaysia's top five trading partners in the EU, with bilateral trade reaching RM15.95 billion in 2024. After France, Anwar will travel to Brazil for the BRICS Leaders Summit from July 5 to 7.
The Sun
15 hours ago
- The Sun
Anwar holds talks with Italian PM Meloni to boost bilateral ties
ROME: Prime Minister Datuk Seri Anwar Ibrahim was accorded a guard of honour upon his arrival at Chigi Palace, the official residence of his Italian counterpart Giorgia Meloni, on Thursday. Anwar, who arrived here on Tuesday for a three-day working visit to Italy, was received by Meloni before the national anthems of both countries were played. Meloni then introduced her delegation, which included Italy's Deputy Prime Minister and Foreign Minister, Antonio Tajani, before Anwar introduced his. During a meeting, both leaders reaffirmed their commitment to strengthening bilateral relations through more comprehensive cooperation. They also discussed a wide range of issues, including collaboration in the economic sector, particularly trade and investment, as well as cooperation in defence, renewable energy, environmental sustainability, agro-commodities and the digital economy. The two leaders also exchanged views on regional and international developments, including the ongoing conflict between Iran and Israel and the resulting humanitarian crisis in the Middle East. Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Defence Minister Datuk Seri Mohamed Khaled Nordin, as well as Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Also present was Malaysian Ambassador to Italy, Datuk Zahid Rastam. In 2024, total trade between Malaysia and Italy increased by two per cent to RM14.61 billion (US$3.18 billion), compared to 2023. From January to May 2025, bilateral trade rose 3.3 per cent year-on-year to RM6.5 billion (US$1.48 billion). Italy remained Malaysia's fifth-largest trading partner and the third-largest importer of Malaysian palm oil among European Union member states last year. Anwar is scheduled to depart for Paris next, where he will meet with French President Emmanuel Macron during his two-day visit. Following that, the Prime Minister will head to Rio de Janeiro to attend the 17th BRICS Leaders' Summit at the invitation of Brazilian President Luiz Inácio Lula da Silva.
