ASEAN ECONOMIC MINISTERS' RETREAT TO DISCUSS CURRENT GEOPOLITICAL CHALLENGES AMONG OTHERS - TENGKU ZAFRUL

KUALA LUMPUR, Feb 24 (Bernama) -- The hosting of the upcoming 31st ASEAN Economic Ministers' Retreat on Feb 28 in Desaru, Johor will discuss various vital matters for ASEAN's economic integration, particularly under the theme of inclusivity and sustainability. 

Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz said that among the key issues to be discussed are current geopolitical challenges, which pose significant challenges to the economic growth in the region, and ways to mitigate the effects of the current geopolitical situation. 

"We will also discuss the priority economic deliverables (PEDs) set by Malaysia as the chairman (of ASEAN) and we will focus on four strategic trusts.

"First is enhancing trade and investment; second is creating an inclusive and sustainable pathway; third is promoting integration and connectivity of economies and; fourth is building a digitally resilient ASEAN," said the minister at the press conference on 'MITI Report Card 2024 and Outlook 2025' here today. 

He said discussion would also focus on the progress of the ASEAN Digital Economy Framework Agreement, (DEFA), reviewing the status of negotiations for the upgraded ASEAN Trade in Goods Agreement (ATIGA), as well on the progress of Timor Leste's accession to ASEAN from an economic pillar. 

"ASEAN member countries should see better improvement in trade with DEFA and the upgrade of ATIGA. However, there is a need to relook into the services industry as many countries are still very protective of their services industry," he said. 

Tengku Zafrul said the retreat will also discuss the ASEAN Economic Community Strategic Plan for 2026-2030, which functions as the economic component of the comprehensive ASEAN Community Vision 2045.

"We will also deliberate on Malaysia's proposal to enhance cooperation between ASEAN and the Gulf Cooperation Council (GCC)," said Tengku Zafrul. 

-- BERNAMA