Bolster trade ties with Africa, S'pore business leader tells Asean
Asean is not as economically relevant in Asia as a whole due to the presence of bigger nations, according to former Singapore Indian Chamber of Commerce and Industry CEO Johnson Paul.
KUALA LUMPUR : A Singaporean business leader has called on Asean to forge stronger trade ties with African countries in light of evolving global dynamics.
Former Singapore Indian Chamber of Commerce and Industry CEO Johnson Paul said Africa is no longer a peripheral player in global trade, with youth-driven innovation, natural resources and strategic trade alignments attracting attention globally.
Paul said Asean is not as economically relevant in Asia as a whole as the presence of bigger nations like China, Japan and South Korea has led to the focus being towards the north.
'The economic shift northwards (in Asia) will mean that many of us in the south will be left behind,' he said at the GLIDE 2025 leadership dialogue here yesterday.
He said Southeast Asian countries like Vietnam and Thailand are thriving because they are already integrated into northern trade networks, attracting major investments.
However, he said the rest of the region needs to broaden its outlook, including building new platforms for economic dialogue and trade with Africa.
Paul cited the African Continental Free Trade Area, which involves 55 countries in total to create the largest free trade area in the world, as a key consideration to increase trade with Africa.
Countries like Kenya and Nigeria have also become tech leaders in financial products and services, attracting investors from the US and China, he added.
He said this opens the door for more foreign investment from Asia, but Asean was 'still absent from the table' in many of these talks.
'There's no real platform or structure for Asean-Africa engagement,' he said. 'Where is the dialogue?'
Last year, the Malaysia External Trade Development Corporation urged Malaysian exporters to explore emerging markets such as Africa, in light of rising shipping costs due to conflicts in the Red Sea then.
A month ago, the Malaysia Africa Chamber of Commerce and Industry said it hoped to open new doors for businesses to invest in African markets this year, working closely with multiple African embassies and high commissions in Malaysia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
7 hours ago
- New Straits Times
Cross-border talent movement can greatly benefit Asean
I recently attended the Asean Talent Development and Future Technologies Toward 2045 Forum in Langkawi. The gathering, part of the Asean Ministers of Education and Higher Education Roundtables, brought together ministers, scholars and industry leaders from across Southeast Asia. It focused on one of the most pressing questions facing the region today, which is how to move talent forward in a way that benefits all. This focus embodies the values at the heart of Asean's founding vision. Its ideals include cooperation, mutual respect, shared development and a commitment to a people-centred community. Asean celebrates diversity while working towards a common regional identity. These principles are vital as the region confronts new challenges. One of them is ensuring that skilled people can move more freely and contribute across borders. The forum offered forward-looking ideas alongside honest self-examination. It raised hard questions about systems that no longer deliver and acknowledged the need for change. It was encouraging to see a ministerial platform that celebrated progress while remaining open to scrutiny. The forum also explored how Asean countries were developing talent pipelines and responding to demand in fast-growing sectors such as semiconductors and artificial intelligence. There was recognition of the need to bring greater consistency to how skills are defined and recognised across the region. These conversations showed a shared intention to move forward together and a recognition of the gaps between policy and implementation. Malaysia continues to face shortages of high-skilled engineers, even with the development of new technology parks and a steady supply of graduates in the field. At the same time, most Asean countries are producing many graduates. The question is not whether Asean has talent. It does. The challenge is ensuring that talent can move across the region in meaningful and practical ways. Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir addressed this directly in his keynote address. He reminded the audience that talent was not just about numbers or investment. He said when young minds were forced to seek fulfilment elsewhere, it signalled that the systems were not working as they should. He called attention to the many young people whose abilities remained overlooked and spoke of the need for systems that recognised potential and created real opportunities. Malaysia has launched a regional platform to support learning, upskilling and collaboration. For efforts like this to have lasting impact, they must be supported by policies that make it easier for talent to move across the region. This includes closer cooperation among countries, clearer processes for recognising qualifications and removing barriers. It is also important to think about how regional mobility can support national development. Many governments have made significant investments in building up talent in their countries. Making it easier for skilled people to move should not lead to one-way flows that benefit some countries more than others. A two-way exchange is more sustainable. This means creating systems where people have the freedom to move but also strong reasons to contribute at home, either by staying or by returning. Several proposals were made at the forum to turn this vision into practical outcomes. These included initiatives to streamline qualification recognition, support short-term employment across borders, strengthen partnerships between universities and industries, and improve the flow of information about talent supply and demand. Participants also discussed the possibility of creating more flexible visa systems to help professionals respond to emerging opportunities. These ideas show what can happen when countries move together with intention. They point to a future where a shared regional identity is supported by real pathways for collaboration and mutual growth. Asean has the talent and now is the time to move forward.
Malay Mail
9 hours ago
- Malay Mail
Morocco's US$1.3b Atlantic trade corridor aims to bridge Africa's divides, but security and politics remain hurdles
EL ARGOUB, June 29 — A planned trade corridor linking the landlocked Sahel to the Atlantic is at the heart of an ambitious Moroccan project to tackle regional instability and consolidate its grip on disputed Western Sahara. The 'Atlantic Initiative' promises ocean access to Mali, Burkina Faso and Niger through a new US$1.3-billion (RM5.5 billion) port in the former Spanish colony claimed by the pro-independence Polisario Front but largely controlled by Morocco. But the project remains fraught with challenges at a time when military coups in the Sahel states have brought new leaderships to power intent on overturning longstanding political alignments following years of jihadist violence. The Moroccan initiative aims to 'substantially transform the economy of these countries' and 'the region', said King Mohammed VI when announcing it in late 2023. The 'Dakhla Atlantic' port, scheduled for completion at El Argoub by 2028, also serves Rabat's goal of cementing its grip on Western Sahara after US President Donald Trump recognised its sovereignty over the territory in 2020. Morocco's regional rival Algeria backs the Polisario but has seen its relations with Mali, Burkina Faso and Niger fray in recent months after the downing a Malian drone. Military coups over the past five years have seen the three Sahel states pivot towards Russia in a bid to restore their sovereignty and control over natural resources after decades within the sphere of influence of their former colonial ruler France. French troops were forced to abandon their bases in the three countries, ending their role in the fight against jihadists who have found sanctuary in the vast semi-arid region on the southern edge of the Sahara. 'Godsend' After both the African Union and West African bloc ECOWAS imposed economic sanctions on the new juntas, Morocco emerged as an early ally, with Niger calling the megaproject 'a godsend'. The Dakhla Atlantic port, scheduled for completion at El Argoub by 2028, also serves Rabat's goal of cementing its grip on Western Sahara after US President Donald Trump recognised its sovereignty over the territory in 2020. — AFP pic 'Morocco was one of the first countries where we found understanding at a time when ECOWAS and other countries were on the verge of waging war against us,' Niger's Foreign Minister Bakary Yaou Sangare said in April during a visit to Rabat alongside his Malian and Burkinabe counterparts. The Sahel countries established a bloc of their own — the Alliance of Sahel States (AES) — in September 2023 but have remained dependent on the ports of ECOWAS countries like Benin, Ghana, Ivory Coast and Togo. Rising tensions with the West African bloc could restrict their access to those ports, boosting the appeal of the alternative trade outlet being offered by Rabat. 'Many steps to take' Morocco has been seeking to position itself as a middleman between Europe and the Sahel states, said Beatriz Mesa, a professor at the International University of Rabat. With jihadist networks like Al-Qaeda and the Islamic State group striking ever deeper into sub-Saharan Africa, the security threat has intensified since the departure of French-led troops. A sweeping plan to link landlocked countries from the Sahel to the Atlantic Ocean through trade corridors is at the heart of an ambitious Moroccan project in West Africa as the region grapples with political volatility. — AFP pic Morocco was now 'profiting from these failures by placing itself as a reliable Global South partner', Mesa said. Its initiative has won the backing of key actors including the United States, France and the Gulf Arab states, who could provide financial support, according to specialist journal Afrique(s) en mouvement. But for now the proposed trade corridor is little more than an aspiration, with thousands of kilometres (many hundreds of miles) of desert road-building needed to turn it into a reality. 'There are still many steps to take,' since a road and rail network 'doesn't exist', said Seidik Abba, head of the Sahel-focused think tank CIRES. Rida Lyammouri of the Policy Center for the New South said the road route from Morocco through Western Sahara to Mauritania is 'almost complete', even though it has been targeted by Polisario fighters. Abdelmalek Alaoui, head of the Moroccan Institute for Strategic Intelligence, said it could cost as much as US$1 billion to build a land corridor through Mauritania, Mali and Niger all the way to Chad, 3,100 kilometres to the east. And even if the construction work is completed, insecurity is likely to pose a persistent threat to the corridor's viability, he said. — AFP
Free Malaysia Today
10 hours ago
- Free Malaysia Today
SST revision won't hurt govt's RM10bil collection target, says economist
On Friday, the government announced that imported apples, oranges, mandarin oranges and dates will be exempted from the SST. (Envato Elements pic) PETALING JAYA : The revision of the sales and service tax's (SST) expansion to exempt several goods and services will not jeopardise the government's target of collecting up to RM10 billion a year, says an economist. Geoffrey Williams said the government has been responsive to views from the relevant stakeholders, and is committed to reducing financial burdens without harming the country's fiscal capability. Geoffrey Williams. 'The revision is minor and will not greatly affect overall collections. 'The government should still be able to hit its RM5 billion collection target for the last six months of 2025 and RM10 billion for next year,' he told FMT, adding the revision will also help control inflation and consumer spending patterns. On Friday, the government announced that imported apples, oranges, mandarin oranges and dates will be exempted from the SST. Also exempted are beauty services such as manicures, pedicures, facials and hairdressing. The finance ministry also said the threshold for service tax registration for leasing or rental and financial services had been raised from RM500,000 to RM1 million, to reduce the number of small businesses that would be affected. Williams said the revision is in line with the government's long-term goal to increase national revenue and strengthen basic health, education and social protection services without unduly burdening consumers. 'This is not just a question of tax collection, but of responsible and fair fiscal policy implementation,' he said. Carmelo Ferlito. However, Center for Market Education CEO Carmelo Ferlito said the government must address potential weaknesses and leakages arising from confusion over the tax's implementation, especially in relation to the newly-exempted goods and services. He said the tax must be simple and fair, warning that making it overly complex would only cause more problems. Ferlito also called for the government to control its own spending to avoid the inflationary risks associated with SST. 'Taxes do not cause inflation, government spending does. 'If the government is truly serious about implementing reforms to reduce the burden of the cost of living on the people, it must impose limits on its own expenditure,' he said.
