Latest news with #ASEANGeoeconomicsTaskForce
The Sun
09-07-2025
- Business
- The Sun
Indonesia urges ASEAN unity amid global challenges, investment shifts
JAKARTA: Indonesia has emphasised the need for ASEAN to bolster its strategic and economic resilience as global competition escalates and foreign investments dwindle. Speaking at the 58th ASEAN Foreign Ministers' Meeting in Kuala Lumpur, Foreign Minister Sugiono warned that the bloc's relevance hinges on its ability to act cohesively. He highlighted ASEAN's unique position amid global economic uncertainty, noting a 10 per cent rise in foreign direct investment despite worldwide declines. 'ASEAN must lead by fostering a predictable, open investment climate, as a safe harbour amid global uncertainty and a magnet for sustainable foreign direct investment (FDI),' he said. Sugiono urged ASEAN to transition from policy discussions to concrete actions, fully supporting the ASEAN Geoeconomics Task Force. He also called for the swift implementation of the ASEAN Community Vision 2045 and greater coordination among member states. Indonesia reaffirmed its backing for Timor-Leste's full ASEAN membership and proposed deeper engagement with Papua New Guinea, citing its strategic and cultural ties to the region. 'In today's uncertain geopolitical climate, it is also timely for us to broaden ASEAN's outreach, and Papua New Guinea is a natural partner,' he added. On regional stability, Sugiono supported modernising the Treaty of Amity and Cooperation, including mechanisms for preventive diplomacy. 'ASEAN's credibility will be defined by the consensus of our values and the coherence of our actions,' he concluded. - Bernama
The Sun
12-06-2025
- Business
- The Sun
ASEAN Geoeconomics Task Force to present report in September
KUALA LUMPUR: The ASEAN Geoeconomics Task Force will present an ASEAN Integration Report in September, which will complement the ASEAN Economic Community Strategic Plan 2026-2030, said the Investment, Trade and Industry Ministry (MITI). In his opening speech at the second ASEAN Geoeconomics Task Force meeting today, Deputy Investment, Trade and Industry Minister Liew Chin Tong said he hopes the report would assist ASEAN in addressing some of the immediate challenges facing the region. 'Our aspiration is that this report will serve a role akin to that of a Mario Draghi Report for the European Union that will guide us through the challenges that lie ahead,' he said during the virtual meeting session. Liew said the ASEAN Integration Report were jointly led by former Trade Minister of Indonesia Dr Mari Pangestu and Assistant Governor of Bank Negara Malaysia Fraziali Ismail. The task force was jointly chaired by Liew and Indonesia's Director-General of International Trade Negotiations Djatmiko Bris Witjaksono. The ASEAN Geoeconomics Task Force was established during the 31st ASEAN Economic Ministers' Retreat in Desaru, Johor, in February this year. It held its inaugural meeting on May 16.
The Sun
12-06-2025
- Business
- The Sun
ASEAN Geoeconomics Task Force to Present Integration Report
KUALA LUMPUR: The ASEAN Geoeconomics Task Force will present an ASEAN Integration Report in September, which will complement the ASEAN Economic Community Strategic Plan 2026-2030, said the Investment, Trade and Industry Ministry (MITI). In his opening speech at the second ASEAN Geoeconomics Task Force meeting today, Deputy Investment, Trade and Industry Minister Liew Chin Tong said he hopes the report would assist ASEAN in addressing some of the immediate challenges facing the region. 'Our aspiration is that this report will serve a role akin to that of a Mario Draghi Report for the European Union that will guide us through the challenges that lie ahead,' he said during the virtual meeting session. Liew said the ASEAN Integration Report were jointly led by former Trade Minister of Indonesia Dr Mari Pangestu and Assistant Governor of Bank Negara Malaysia Fraziali Ismail. The task force was jointly chaired by Liew and Indonesia's Director-General of International Trade Negotiations Djatmiko Bris Witjaksono. The ASEAN Geoeconomics Task Force was established during the 31st ASEAN Economic Ministers' Retreat in Desaru, Johor, in February this year. It held its inaugural meeting on May 16.
