logo
#

Latest news with #AseanGeoeconomicTaskForce

Asean urges major powers to resolve differences through regional mechanisms
Asean urges major powers to resolve differences through regional mechanisms

New Straits Times

time4 days ago

  • Business
  • New Straits Times

Asean urges major powers to resolve differences through regional mechanisms

KUALA LUMPUR: Asean foreign ministers have urged major powers to manage their differences constructively and responsibly, including through Asean-led mechanisms such as the Asean Outlook on the Indo-Pacific (AOIP). Malaysia's Foreign Minister Datuk Seri Mohamad Hasan said the move is to ensure that the region remains peaceful, stable and prosperous. "We underscored the importance of dialogue and cooperation through Asean platforms, with focus on commonalities rather than differences," he said during the exit press conference of the 58th Asean Foreign Ministers' Meeting (AMM) and Related Meetings today. Mohamad said the AMM meeting also heard a briefing by the Asean Geoeconomic Task Force on the subject "Asean Economic Outlook in a Fragmented Global Economy". "We have also decided that ahead of the upcoming 47th Asean Summit in October, we will involve the ministers of economy or investment from each member country, so that we can coordinate our efforts more effectively, as politics and the economy now go hand in hand. "Many of the agreements we've made have not yet been translated into action," he added. Meanwhile, Mohamad said Asean continues to gain the trust of major powers, with the bloc now widely recognised as a respected entity in a peaceful region with strong economic growth. "Many countries are lining up to sign the Treaty of Amity and Cooperation in Southeast Asia (TAC) as a first step towards becoming Asean's partners," he said. He said Asean, which began with five member states, expanded to ten, and will grow to eleven member states by the end of the year, with Timor Leste. "Interest in becoming dialogue partners continues to grow, with many countries currently waiting to be accepted as sectoral dialogue partners, a status that typically precedes full dialogue partner recognition," he said. He, however, said Asean currently maintains a moratorium on accepting new dialogue partners. "That said, there are one or two cases that may be considered, especially if the country in question can add value to Asean. "While the moratorium remains in place, it should not be applied too rigidly. We must assess whether there is a real need and whether the country can bring added value to the region."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store