Anwar: Asean moving towards local currency use in trade
KUALA LUMPUR (July 5): Asean has taken steps to reform the grouping by not only increasing trade among the member countries but also the use of local currencies in trade as a concrete way toward a more stable financial system free of unilateral domination, Prime Minister Datuk Seri Anwar Ibrahim said today.
'Of course, we are not talking about de-dollarisation yet, that's still a long way to go. But at least we are trying. Malaysia, together with Indonesia, Thailand, and China, we are beginning to use our currencies, even if it starts with just 10 or 20 per cent of the trade volume.
'It makes a difference because we cannot keep complaining without executing our plans, both among ourselves and with our friendly neighbours,' he said at the BRICS Business Forum entitled: 'Bridging Continents, Building Future: A Shared Agenda for Sustainable Progress' in Rio De Janeiro, Brazil today.
Also present were President of Brazil Luiz Inácio Lula da Silva, Vice President of Brazil Geraldo Alckmin and President of the Brazilian Confederation of National Industry (CNI) Ricardo Alban. – Bernama anwar ibrahim asean dollar local currency trade
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
18 minutes ago
- Barnama
Special Counsel Seeks Arrest Of South Korean Ex-President Yoon For Martial Law Bid
Former President Yoon Suk Yeol (C) leaves the Seoul High Prosecutors Office in southern Seoul after hourslong questioning by the special counsel on July 5, 2025, over a series of allegations in connection with his botched imposition of martial law in December. (Photo Credit Yonhap) SEOUL, July 6 (Bernama-Yonhap) -- A special counsel sought a warrant on Sunday to arrest former President Yoon Suk Yeol over allegations related to his declaration of martial law, Yonhap News Agency reported. The independent counsel, led by Cho Eun-suk, filed an arrest warrant request with the Seoul Central District Court against Yoon for alleged abuse of power, falsification of official documents, violation of the Presidential Security Act and obstruction of special official duties, among other charges, in connection with his declaration of martial law on Dec 3, according to officials from the counsel team. The specific reasons for the warrant request were not disclosed. bootstrap slideshow The counsel has conducted an intensive investigation into Yoon over insurrection and other charges since its launch last month. Most recently, Yoon was summoned and underwent several hours of questioning on Saturday. Yoon has completely denied the allegations during in-person interrogations, raising concerns about possible destruction of evidence or collusion with accomplices, according to the officials. Yoon is alleged to have attempted to block investigators from executing a court warrant to detain him in January. He is also suspected of directing the Presidential Security Service to delete records from secure phones used by several military commanders following his failed martial law bid. The investigation has further focused on suspicions that Yoon had hastily convened a Cabinet meeting on the night of the martial law declaration to meet the quorum required to enforce the decree. The treason charge, however, was not included in the warrant. The former president is alleged to have ordered a military drone operations unit to deploy drones over Pyongyang to fabricate a justification for declaring martial law.
Barnama
30 minutes ago
- Barnama
Israeli Airstrikes Kill 41 Palestinians Across Gaza
Palestinians react next to the bodies of people killed at the site of an overnight Israeli strike on a house, in Gaza City, July 6, 2025. REUTERS/Mahmoud Issa GAZA CITY/ANKARA, July 6 (Bernama-Anadolu) -- At least 41 Palestinians, including children, were killed on Sunday in a series of Israeli airstrikes across the Gaza Strip, according to medical sources and local reports, Anadolu Ajansi (AA) reported. In Gaza City, 25 people were killed when Israeli warplanes bombed two homes sheltering displaced families in the Sheikh Radwan and Al-Nasr neighbourhoods, a medical source said. Eyewitnesses said the houses were filled with sleeping families, mostly women and children, when the strikes occurred. Several people remain trapped under the rubble. bootstrap slideshow An Israeli drone strike hit a tent sheltering displaced Palestinians in Sheikh Radwan, killing three and injuring others, according to health officials. Overnight, three people from the same family were killed and others injured in an Israeli airstrike on their home in the Al-Daraj neighbourhood of Gaza City, a source at Al-Ahli Baptist Hospital confirmed. In southern Gaza, at least 10 people, including children and a pregnant woman, were killed in two Israeli air raids on makeshift tents for displaced civilians in the Al-Mawasi area of Khan Younis, medical teams at Nasser and Kuwait field hospitals reported. Israeli forces also bombed residential and civilian structures in eastern Gaza City and northern parts of the enclave overnight, with residents reporting continuous explosions throughout the night. In central Gaza, an Israeli shell injured a Palestinian fisherman off the coast of Deir al-Balah while he was working. Despite international calls for a ceasefire, Israel has pursued a genocidal war on Gaza, killing more than 57,300 Palestinians, most of them women and children, since October 2023.
The Sun
31 minutes ago
- The Sun
JS-SEZ development to boost satellite towns in Johor districts
KLUANG: The Johor-Singapore Special Economic Zone (JS-SEZ) is set to bring widespread benefits beyond Johor Bahru, spurring the rise of satellite towns across all 10 districts in the state. Johor Chief Minister Datuk Onn Hafiz Ghazi emphasised that the initiative ensures balanced infrastructure and progress, preventing any district from being left behind. Speaking at the Majestic Johor x Renggam Fiesta at Tunku Mahkota Ismail Youth Centre (TMIYC) Renggam, Onn Hafiz noted that the JS-SEZ will also boost tourism, positioning Johor as a key destination. The state government plans to leverage the upcoming Visit Johor Year to promote attractions statewide. 'Bit by bit, areas surrounding JS-SEZ are beginning to experience the spillover effects of development. For example, the areas of Simpang Renggam and Renggam in Kluang are already seeing its impact. This progress will gradually expand to other districts,' he said. He compared Kluang's potential to Seremban, which serves as a satellite city to the Klang Valley, predicting that Kluang could emerge as a major satellite city due to JS-SEZ-driven growth. The JS-SEZ spans approximately 357,128 hectares, covering key zones like Iskandar Malaysia, Forest City, Pengerang Integrated Petroleum Complex, and Desaru. Strategic areas under Iskandar Malaysia include Johor Bahru City Centre, Iskandar Puteri, Tanjung Pelepas–Tanjung Bin, Pasir Gudang, Senai–Skudai, and Sedenak. Onn Hafiz added that transport projects like the Johor Bahru–Singapore Rapid Transit System (RTS) Link and the Gemas–Johor Bahru Double Track Electrified Project will enhance connectivity between districts and JS-SEZ hubs. 'All these projects will enhance connectivity between Johor's districts and the key areas within the JS-SEZ, and the development will be carried out in phases,' he said. - Bernama
