Tengku Zafrul Highlights Need For Continued ASEAN-UK Engagement To Boost Business Opportunities

KUALA LUMPUR, March 11 (Bernama) -- Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has emphasised the importance of continuous engagement between ASEAN and the United Kingdom (UK) in expanding business opportunities and deepening the strong economic ties that have been built.

He stated that this call for enhanced collaboration could include both government-to-government (G2G) cooperation and business-to-business (B2B) partnerships.

“ASEAN remains steadfast in its commitment to fostering a business-friendly environment, prioritising certainty, accountability, efficiency and transparency in our policies and service delivery,” Tengku Zafrul said in his address during the UK-ASEAN Business Forum 2025, titled “Growing Together: Connecting a Sustainable, Digital and Shared Future”, in London today. 

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He encourages the UK to engage not just at the leaders and ministerial levels but also through ASEAN’s Senior Economic Officials and the ASEAN BAC platform to further strengthen ASEAN-UK trade and investment.

This year, the minister said that Malaysia will champion initiatives like the ASEAN Sustainable Investment Guidelines (ASIG) and the ASEAN Centre of Excellence for Micro, Small and Medium Enterprises (MSMEs) in Green Transition to establish regional best practices.

“The UK is a leader in financial services innovation and green finance regulation, with institutions like the UK Centre for Greening Finance and Investment (CGFI) and the UK Climate Investments (UKCI) setting global benchmarks,” he said.

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Hence, ASEAN could leverage the UK’s expertise to accelerate its green finance strategies and integrate sustainability into economic planning, said the minister.

He highlighted that Malaysia’s Priority Economic Deliverables (PEDs) will be pivotal to its ASEAN chairmanship, marking key milestones for the region in 2025.

Tengku Zafrul said that a major achievement will be the upgrade of the ASEAN Trade in Goods Agreement (ATIGA) which will enhance regional trade and economic connectivity.

He said strengthening supply chain linkages in the semiconductor, renewable energy, and tourism sectors will help mitigate risks from global disruptions while reinforcing ASEAN’s position as an innovation-driven economic hub.

“There is vast potential for UK industries to explore ASEAN’s end-to-end supply chain capabilities. Where gaps exist, UK businesses can play a role in developing and operating those critical areas,” Tengku Zafrul said.

He noted that a landmark achievement in 2025 will be the Digital Economy Framework Agreement (DEFA), which will harmonise regulations, standards and practices to facilitate cross-border digital trade and data flows.

“With the potential to double ASEAN’s Digital Economy to US$2 trillion by 2030, DEFA has drawn interest from UK tech companies and global players,” he added. 

-- BERNAMA