(Kuala Lumpur, 21st) ASEAN economic ministers will convene in Kuala Lumpur next week for an important meeting aimed at finalizing the agenda for promoting intra- and extra-regional trade and investment, to be submitted to national leaders and dialogue partner countries for approval at the ASEAN Summit in October.
This means that Southeast Asian countries need to take concrete actions to deepen regional economic integration, achieve trade liberalization by reducing barriers, and shape the region into an ideal global destination for trade and investment—in turn strengthening regional economic resilience to buffer the long-term impact of U.S. tariffs.
Chaired by Minister of Investment, Trade and Industry Tengku Zafrul, the 57th ASEAN Economic Ministers' Meeting (AEM) and related meetings are timely, aiming to unite regional forces to jointly resist attempts to disrupt the existing global trade order.
As the rotating ASEAN chair, Malaysia has not only successfully built consensus to address tariff issues, curb protectionist tendencies, expand trade channels, and open new markets, but has also decisively intervened to mediate the brewing military conflict between Thailand and Cambodia, earning Putrajaya widespread praise.
With the Senior Economic Officials Meeting (SEOM) kicking off this Monday, core topics are centered on implementing 18 Priority Economic Deliverables (PEDs), which will fulfill the regional integration commitments adopted by member states at the informal ministerial meeting in Desaru this February.
Among the 18 PEDs, one has been fully completed: the ASEAN-Gulf Cooperation Council Joint Declaration on Economic Cooperation, which was endorsed at the May 27, 2025 leaders' meeting to strengthen economic collaboration.
The remaining PEDs focus on regional economic integration, inclusiveness, sustainability, and digital trade, and are presently in varying stages of completion—ranging from largely completed, partially implemented, to still in progress.
The Regional Comprehensive Economic Partnership (RCEP) ministerial meeting has also drawn attention, as it prepares the agenda for the leaders’ meeting during the ASEAN Summit in October.
Led by ASEAN, RCEP is the world’s largest trade agreement, covering 15 member countries, including the 10 ASEAN nations, as well as China, Japan, South Korea, Australia, and New Zealand.
Apart from holding talks with ASEAN dialogue partners, member states will also consult with the U.S. Trade Representative, Jamieson Greer, to further discuss issues related to the implementation of U.S. tariffs and hope to find compromises in industries crucial to the ASEAN economy such as semiconductors and commodities.
Since the U.S. announced tariff increases in April, many trade partners have faced higher tariffs, including Malaysia, Cambodia, the Philippines, Thailand, and Indonesia at 19%, Laos and Myanmar hit hardest at 40%, Vietnam and Brunei at 20% and 25% respectively, and Singapore the lowest at just 10%.
In their efforts to deal with the heavy economic costs caused by tariffs, ASEAN countries must reexamine their own potential, especially in expanding intra-ASEAN trade that still has untapped opportunities.
The public anticipates that during Malaysia’s tenure as chair, ASEAN member states and dialogue partners will be inspired to muster political will and promote bold initiatives, making Southeast Asia the most promising global destination for trade and investment.
This means that Southeast Asian countries need to take concrete actions to deepen regional economic integration, achieve trade liberalization by reducing barriers, and shape the region into an ideal global destination for trade and investment—in turn strengthening regional economic resilience to buffer the long-term impact of U.S. tariffs.
Chaired by Minister of Investment, Trade and Industry Tengku Zafrul, the 57th ASEAN Economic Ministers' Meeting (AEM) and related meetings are timely, aiming to unite regional forces to jointly resist attempts to disrupt the existing global trade order.
As the rotating ASEAN chair, Malaysia has not only successfully built consensus to address tariff issues, curb protectionist tendencies, expand trade channels, and open new markets, but has also decisively intervened to mediate the brewing military conflict between Thailand and Cambodia, earning Putrajaya widespread praise.
With the Senior Economic Officials Meeting (SEOM) kicking off this Monday, core topics are centered on implementing 18 Priority Economic Deliverables (PEDs), which will fulfill the regional integration commitments adopted by member states at the informal ministerial meeting in Desaru this February.
Among the 18 PEDs, one has been fully completed: the ASEAN-Gulf Cooperation Council Joint Declaration on Economic Cooperation, which was endorsed at the May 27, 2025 leaders' meeting to strengthen economic collaboration.
The remaining PEDs focus on regional economic integration, inclusiveness, sustainability, and digital trade, and are presently in varying stages of completion—ranging from largely completed, partially implemented, to still in progress.
The Regional Comprehensive Economic Partnership (RCEP) ministerial meeting has also drawn attention, as it prepares the agenda for the leaders’ meeting during the ASEAN Summit in October.
Led by ASEAN, RCEP is the world’s largest trade agreement, covering 15 member countries, including the 10 ASEAN nations, as well as China, Japan, South Korea, Australia, and New Zealand.
Apart from holding talks with ASEAN dialogue partners, member states will also consult with the U.S. Trade Representative, Jamieson Greer, to further discuss issues related to the implementation of U.S. tariffs and hope to find compromises in industries crucial to the ASEAN economy such as semiconductors and commodities.
Since the U.S. announced tariff increases in April, many trade partners have faced higher tariffs, including Malaysia, Cambodia, the Philippines, Thailand, and Indonesia at 19%, Laos and Myanmar hit hardest at 40%, Vietnam and Brunei at 20% and 25% respectively, and Singapore the lowest at just 10%.
In their efforts to deal with the heavy economic costs caused by tariffs, ASEAN countries must reexamine their own potential, especially in expanding intra-ASEAN trade that still has untapped opportunities.
The public anticipates that during Malaysia’s tenure as chair, ASEAN member states and dialogue partners will be inspired to muster political will and promote bold initiatives, making Southeast Asia the most promising global destination for trade and investment.