Malaysia will focus on leveraging RCEP as Asean chair, says Tengku Zafrul

 

Investment, trade and industry minister Tengku Zafrul Aziz said Malaysia intends to strongly drive negotiations on the Asean Digital Economy Framework Agreement launched in 2023. (Bernama pic)

PETALING JAYA: 

Malaysia will focus on leveraging the Regional Comprehensive Economic Partnership (RCEP) as the 2025 Asean chair, says investment, trade and industry minister Tengku Zafrul Aziz.

According to a report by Bernama, he said fully implementing the world’s largest trade agreement could position Asean as a hub for regional growth.

“This could be the key highlight of Malaysia’s chairmanship,” he said in his closing remarks at the Asean Economic Opinion Leaders Conference in Kuala Lumpur today.

RCEP involves 15 countries, including Asean member countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The other five are Australia, China, Japan, South Korea and New Zealand.

Tengku Zafrul said Malaysia also intends to strongly drive negotiations on the Asean Digital Economy Framework Agreement launched in 2023.

“By 2030, the digital economy could add US$2 trillion (RM9 trillion) to the region, but for that to happen, Malaysia must help Asean nations harmonise their digital policies,” he said.

Tengku Zafrul said Malaysia will also propose a joint declaration on the Asean-Gulf Cooperation Council economic cooperation during the 46th Asean summit in May.

“This declaration will pave the way for closer economic ties with the GCC, a region with significant economic potential,” he said. - FMT