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ASEAN’S next phase of regional economic integration will centre on deeper trade connectivity, sustainability, and digital innovation, as leaders prepare to adopt the ASEAN Economic Community (AEC) Strategic Plan 2026–2030 during the upcoming summit.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the new roadmap will be signed as part of the Kuala Lumpur Declaration on ASEAN 2045 on May 26, 2025.
“The plan is introduced at a time when the world is roiled by protectionist trends and economic uncertainty. It represents ASEAN’s commitment to building resilience and agility against global shocks,” he said at a closed-door pre-event media briefing on May 23 at the Grand Hyatt Kuala Lumpur.
He said the plan forms a key pillar of the ASEAN Community Vision 2045 and succeeds the AEC Blueprint 2025 adopted a decade ago.
Additionally, Tengku Zafrul described the plan as “timely” and “ambitious”, noting that it incorporates six strategic goals, 44 objectives, and 192 strategic measures.
ASEAN’s average growth of 4.4% over the last decade faces potential headwinds as major economies slow down.
Several countries have recorded negative growth in early 2025, prompting Malaysia — as ASEAN Chair — to call for greater coordination among member states.
He added that the region must uphold its founding principles of centrality, neutrality and non-alignment, while embracing reform and economic transformation.
Plan to spur intra-ASEAN trade, green growth and digital economy
The AEC Strategic Plan aims to strengthen ASEAN’s competitiveness as a single market by enhancing intra-regional trade and investment flows.
It also lays the foundation for green and digital economic transformation.
Key areas of focus include industrial productivity, resource efficiency, decarbonisation, and energy security — the latter two are among Malaysia’s Priority Economic Deliverables (PEDs) this year.
It also introduces a digital economy framework anchored in infrastructure and artificial intelligence.
“ASEAN’s digital economy is one of the fastest-growing in the world and is expected to reach US$1 trillion by 2030,” Tengku Zafrul added.
He also stressed that ASEAN remains committed to global engagement even as parts of the world turn inward.
The bloc will continue to deepen ties with traditional dialogue partners — including China, Japan, Australia, and New Zealand — while exploring new markets.
“This strategic plan strongly emphasises market openness and ASEAN’s readiness to work with external partners,” he said.
Malaysia to lead 18 key deliverables under ASEAN Chairmanship
Malaysia, in its role as ASEAN Chair, will oversee the implementation of 18 Priority Economic Deliverables, including upgrading the ASEAN Trade in Goods Agreement (ATIGA); advancing the ASEAN Digital Economy Framework Agreement (DEFA); and finalising free trade agreement upgrades with China and India.
Nine of these PEDs are under the direct purview of ASEAN Economic Ministers, while the remaining nine involve other sectoral bodies in areas such as sustainability, digital payments, and AI safety.
ASEAN-GCC-China Forum and Women’s Economic Summit to complement agenda
Two major side events will further drive the summit’s inclusive and international focus.
The ASEAN-GCC-China Economic Forum (May 27–28) will bring together ministers, business leaders and policymakers to explore joint investments and supply chain partnerships.
Separately, the ASEAN Women Economic Summit (AWES) — organised by the Women Leadership Foundation and supported by MITI — will take place on May 24 and 25, spotlighting gender-inclusive policies, women entrepreneurs, and equitable participation in trade.
“As hosts, we seek to set the tone by mainstreaming inclusive growth, both in policy and practice,” Tengku Zafrul said.
The AEC Strategic Plan is expected to serve as a blueprint for ASEAN’s ambition to become a resilient, innovative, and people-centred economic bloc — and a global growth epicentre by 2045. –TMR
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