18 PEDs Endorsement, AEC Plan Review Among 31st AEM Highlights – MITI

By Norsyafawati Ab Wahab and Mohd Khairi Idham Amran

KOTA TINGGI, Feb 25 (Bernama) -- The 31st ASEAN Economic Ministers (AEM) Retreat, set for Friday in Desaru, is expected to see all member states endorsing the 18 Priority Economic Deliverables (PEDs) and reviewing progress on the ASEAN Economic Community (AEC) Strategic Plan 2026-2030.  

Ministry of Investment, Trade and Industry (MITI) Secretary-General Datuk Hairil Yahri Yaacob said the retreat would be crucial in securing ministerial approval for the PEDs, which focus on regional economic integration, inclusivity, sustainability, and digital trade.  

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“The most important thing during the retreat is to get buy-in from the ministers. This is where we will see the endorsement of the 18 PEDs we are pushing for this year,” he told Bernama.  

Hairil said that once ministerial endorsement is received, all ASEAN members will begin working to ensure the successful implementation of these deliverables.  

“That will be the main outcome of the retreat,” he said.  

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MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz told Bernama earlier this month that Malaysia, as ASEAN chair for 2025 and lead for the economic pillar, is optimistic about achieving consensus on the PEDs.  

Once endorsed, these deliverables will be presented at the ASEAN Leaders’ Summit in November, Tengku Zafrul said.  

Beyond the PEDs, Hairil said the retreat would also review the AEC Strategic Plan 2026-2030, which forms part of the broader ASEAN Community Vision 2045 (ACV 2045).  

“This is also part of ACV 2045, but for the economic pillar, we are taking a staggered approach every five years. The AEC Strategic Plan will cover 2026-2030, followed by 2031-2035, and so on,” he explained.  

MITI hopes ASEAN ministers will acknowledge the progress made so far and that by May 2025, the bloc will finalise the next five-year strategic framework for economic cooperation, Hairil added.  

Currently, senior officials at the High-Level Task Force on ASEAN Economic Integration (HLTF-EI) are discussing issues related to the 18 PEDs and strategic plans.  

These discussions will continue at the two-day Preparatory Senior Economic Officials’ Meeting (Prep-SEOM), which begins tomorrow, before the proposals are presented to ministers at the retreat on Feb 28.  

“I am very confident that the ministers will agree and endorse all 18 PEDs. Once approved, all statutory bodies and working groups under the economic pillar will begin implementation,” Hairil said.  

Tengku Zafrul is expected to chair the AEM retreat on Feb 28.  

Prior to the meeting, the 12th Working Group-ASEAN Economic Community (WG-AEC) Meeting was held on Feb 22-23, while the 47th High-Level Task Force on Economic Integration (HLTF-EI) Meeting took place on Feb 24-25.  

The Preparatory Senior Economic Officials’ Meeting (SEOM) for the AEM Retreat will be held on Feb 26-27.

-- BERNAMA