(Bandar Seri Begawan, 28th) Brunei's Minister at the Prime Minister's Office and Second Minister of Finance and Economy, Dato Liu Guangming, recently attended the 25th ASEAN Economic Community Council Meeting (25th AECC) held in Kuala Lumpur, Malaysia.
The 25th AECC was chaired by Malaysia's Minister of Investment, Trade and Industry, Tengku Zafrul Abdul Aziz, and attended by AECC ministers from 10 ASEAN member countries and Timor-Leste.
During the meeting, the ministers listened to updates on various works under the ASEAN Economic Community (AEC) pillar, including discussions on ASEAN's economic outlook. The attending ministers also focused on the progress of Priority Economic Deliverables (P.E.D) promoted by Malaysia as the rotating chair, and particularly welcomed the substantial completion of upgrade negotiations on the ASEAN Trade in Goods Agreement (ATIGA) and the ASEAN-China Free Trade Area Agreement (ACFTA).
In the current environment of ongoing trade tensions and uncertainties, the council reaffirmed its strong support for a rules-based multilateral trading system centered on the World Trade Organization (WTO). The ministers unanimously pledged not to retaliate against the unilateral tariff measures by the United States and agreed to continue engaging in constructive dialogue and cooperation to ensure balanced and sustainable economic and trade relationships. Meanwhile, the ministers also emphasized the importance of the ASEAN Geoeconomic Taskforce (AGTF) in providing strategic foresight and recommendations to tackle current and future geoeconomic challenges.
Additionally, the council also took note of the preparations for the Special ASEAN Economic Ministers and Dialogue Partners Meeting (China, Japan, Australia, and New Zealand) scheduled for May 20, 2025.
During the meeting, Dato Liu Guangming expressed appreciation for the steady development of the ASEAN Economic Community, particularly welcoming the adoption of the ASEAN Economic Community Strategic Plan 2026-2030 and the progress of implementing the Bandar Seri Begawan Roadmap for Digital Transformation (BSBR). Dato Liu Guangming also welcomed the substantial completion of the ATIGA and ACFTA upgrade negotiations, emphasizing their significant importance in strengthening ASEAN economic integration.
The day before this council meeting, a Preparatory Senior Economic Officials' Meeting (Prep-SEOM) was also held on May 24, 2025. A delegation from Brunei's Department of Trade, Ministry of Finance and Economy, also attended this meeting.
The 25th AECC was chaired by Malaysia's Minister of Investment, Trade and Industry, Tengku Zafrul Abdul Aziz, and attended by AECC ministers from 10 ASEAN member countries and Timor-Leste.
During the meeting, the ministers listened to updates on various works under the ASEAN Economic Community (AEC) pillar, including discussions on ASEAN's economic outlook. The attending ministers also focused on the progress of Priority Economic Deliverables (P.E.D) promoted by Malaysia as the rotating chair, and particularly welcomed the substantial completion of upgrade negotiations on the ASEAN Trade in Goods Agreement (ATIGA) and the ASEAN-China Free Trade Area Agreement (ACFTA).
In the current environment of ongoing trade tensions and uncertainties, the council reaffirmed its strong support for a rules-based multilateral trading system centered on the World Trade Organization (WTO). The ministers unanimously pledged not to retaliate against the unilateral tariff measures by the United States and agreed to continue engaging in constructive dialogue and cooperation to ensure balanced and sustainable economic and trade relationships. Meanwhile, the ministers also emphasized the importance of the ASEAN Geoeconomic Taskforce (AGTF) in providing strategic foresight and recommendations to tackle current and future geoeconomic challenges.
Additionally, the council also took note of the preparations for the Special ASEAN Economic Ministers and Dialogue Partners Meeting (China, Japan, Australia, and New Zealand) scheduled for May 20, 2025.
During the meeting, Dato Liu Guangming expressed appreciation for the steady development of the ASEAN Economic Community, particularly welcoming the adoption of the ASEAN Economic Community Strategic Plan 2026-2030 and the progress of implementing the Bandar Seri Begawan Roadmap for Digital Transformation (BSBR). Dato Liu Guangming also welcomed the substantial completion of the ATIGA and ACFTA upgrade negotiations, emphasizing their significant importance in strengthening ASEAN economic integration.
The day before this council meeting, a Preparatory Senior Economic Officials' Meeting (Prep-SEOM) was also held on May 24, 2025. A delegation from Brunei's Department of Trade, Ministry of Finance and Economy, also attended this meeting.