ASEAN Must Speed Up Its Integration Amid Global Trade Headwinds -- Tengku Zafrul
KUALA LUMPUR, July 24 (Bernama) -- ASEAN must step forward together and speed up its integration to reduce trade friction among its members amid global trade uncertainties, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He said a united ASEAN that speaks clearly with aligned standards and defends its common interests as the world navigates a challenging global trade environment will be far more resilient and influential.
"The global operating landscape is no longer as cooperative as it once was. The more reason why ASEAN must step forward together because a fragmented ASEAN weakens all of us. So we must speed up our internal integration, we must reduce trade friction, harmonise standards, and build rules-based systems that connect our markets and protect our value chains," he said during his keynote address at the ASEAN Corporate Governance Conference and Awards 2025 dinner tonight.
According to Tengku Zafrul, the real drivers of business sentiment and commercial confidence in every country lie in the corporate governance and sustainability efforts of companies.
"When investors look at ASEAN, they are not just looking at the growth numbers, they are also looking at governance issues, rule of law, as well as climate disclosure, and maybe labour standards.
"They compare how companies manage risks, uphold ethics, and also how they treat their stakeholders. So this is where we must lead, not as individual policy makers and companies in individual countries, but as a region that collectively values integrity, transparency, as well as long-term stability," he added.
To this end, Tengku Zafrul also highlighted that corporate governance and sustainability are no longer seen as checkbox exercises but as strategic levers for trust, reputation, risk management, and capital raising.
He noted that governance and sustainability are strategic imperatives that shape confidence in a nation's institutions, enabling equitable prosperity and 'defining our values as a region.'
"So in this sense, governance must be front and centre to position ASEAN as a viable and investable asset class. In a time of global uncertainty, it is guiding ASEAN to rebuild and to rise with greater purpose and unity," he concluded.
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