ASEAN JOINT FOREIGN & ECONOMIC MINISTERS' MEETING IS TIMELY - ANALYST

By Nur Atiq Maisarah Suhaimi & Christine Lim

KUALA LUMPUR, Oct 25 (Bernama) -- Analysts described the upcoming ASEAN Joint Foreign and Economic Ministers' Meeting as a timely and significant step in addressing interconnected geopolitical and economic challenges, marking a potential turning point for the region.

The meeting is expected to be held on Oct 25.

ASEAN's decision to convene a joint meeting is being viewed as a notable departure from the routine practice, signalling what analysts see as an adaptive response to a more unpredictable global landscape.

The last such meeting was reportedly held in 1999, and although another was proposed in 2003, there is no official record confirming it took place.

If so, the upcoming gathering would mark the first in over two decades.

Geostrategist Prof Dr Azmi Hassan said the joint meeting during the 2025 ASEAN Summit, after 26 years, is crucial in achieving regional consensus on intertwined geopolitical and economic issues, including Myanmar, the South China Sea, Cambodia-Thailand border issues, and war in Ukraine and Gaza.

"It is very appropriate and timely, but not out of the ordinary to hold a joint meeting in this particular case, and it is very critical, especially in the US President Donald Trump era. There is no clearly defined line that divides geopolitics and economy," he told BERNAMA International News Service.

Azmi said tariff-related matters were also expected to be discussed, noting that consensus would be vital in determining ASEAN's position on trade measures that have been used as geopolitical tools by major powers.

He expressed hope that a joint communique and consensus would be reached, particularly on the Myanmar and South China Sea issues, which would reflect the success of Malaysia's Chairmanship, as not all ASEAN meetings have achieved such unanimity.

"Consensus will be put out because there will be one or two ASEAN member nations that are not agreeable to it. So to get a consensus is very significant and it shows our chairmanship for the past nearly one year," he said.

Meanwhile, Malaysia University of Science & Technology Provost and Dean of The Centre for Postgraduate Studies Prof Dr Barjoyai Bardai said the meeting underscores the importance of international trade, regional cooperation and greater mobility within ASEAN members.

"ASEAN is unique. Many analysts believe that this decade is the ASEAN decade and ASEAN countries will become the focus and the focal point for global development," he said.

Barjoyai said ASEAN would continue to play an increasingly important role as a hub and bridge between the West and the East, with the meeting expected to deliberate on border issues and ways to capitalise on cross-border economic opportunities.

"The joint meeting is trying to pitch that ASEAN will no longer be circled by small countries, but it will be a massive region with potential resources to be capitalised," he said.

Using the European Community as an example, Barjoyai suggested that ASEAN could follow a similar path toward becoming a more liberalised region, where trade, mobility and economic cooperation are made freer and more integrated.

He added that workforce mobility, particularly the movement of skilled talents, would likely become increasingly fluid as ASEAN member states continue to specialise in different industries such as semiconductors, Islamic finance and halal goods.

"We can speculate that in the near future, the mobility of manpower, especially the talents between countries, will  be very fluid as the ASEAN countries are specialising in different things and creating regional opportunities," he added.

The economist also expressed hope that ASEAN economic ministers will evaluate and specialise each country's potential and align it with the global economic needs, allowing nations to complement rather than compete with one another.

"Pitch each country based on their potential and capability so that countries in ASEAN will not have to compete with each other and they will consolidate their strength in terms of financial resources, natural resources, talent and human resources," he said.

Therefore, with Malaysia's Chairmanship in the ASEAN meetings this year, this is a pivotal time to take appropriate steps to boost economic growth and standard of living within the ASEAN region by complementing each other's strengths.

"By leveraging the Regional Comprehensive Economic Partnership (RCEP) and BRICS membership,  higher economic growth can be achieved," he said.

Malaysia will convene the RCEP summit during the 47th ASEAN Summit that will take place from Oct 26 to 28.

The RCEP, the largest free trade area globally, accounts for 30 per cent of the world's gross domestic product (GDP).

BRICS, which includes 20 countries, of which Malaysia is a partner country, represents about 40 per cent of global GDP.

However, Barjoyai pointed out a delicate balance needs to be maintained between ties with major global superpowers.

The Asean-China Free Trade Agreement 3.0 is expected to be signed during the summit, and President Trump is expected to attend the summit.

According to Barjoyai, the US is also a major importer of Malaysia's semiconductor products, and these products are exempt from tariff, while other goods are mostly subjected to a 19 per cent tariff.

The US is also Malaysia's major foreign direct investor (FDI) in the semiconductor sector.

--   BERNAMA