Economic Openness Vital For Regional Stability, Prosperity -- PM Anwar

By Nur Ashikin Abdul Aziz

SINGAPORE, May 31 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim has underscored the importance of maintaining economic openness in Southeast Asia, saying that it has long served as a foundation for regional prosperity, political stability, and cohesion.

Delivering his remarks at the 22nd Shangri-La Dialogue here, Anwar said economic openness is not only a pathway to growth but also a stabilising force in international relations.

“It is a source of equilibrium, both between nations and within them, to address pressing issues such as poverty, social inequities, or even the digital divide.

“Open markets create the kind of mutual exposure between nations that encourages caution, not confrontation,” he said.

The prime minister cautioned that disruptions to economic openness could undermine investor confidence and destabilise financial flows.

He noted that ASEAN leaders have expressed concern over the growing threat of unilateral actions, retaliatory tariffs, and the risk of global economic fragmentation.

The ASEAN leaders’ statement on global economic and trade uncertainty also reaffirmed ASEAN’s commitment to an open, predictable, and rules-based trading system -- not out of convenience, but because it is “existential.”

Anwar noted that, as open and export-driven economies like Malaysia, any fragmented trade can result in increased costs, lower resilience, and depressed investment.

“Currency volatility and investor flight do not respect borders. And disruptions in energy, food or critical minerals cascade quickly through societies,” he said.

The Shangri-La Dialogue, a premier defence and security conference in the Asia-Pacific region, features participation from 47 countries, including 40 ministerial-level delegates, 20 chiefs of defence forces, over 20 senior defence officials, and leading academics from across the region.

Earlier, Anwar also met with United States Defence Secretary Pete Hegseth as well as Boeing Global president and Boeing Company senior vice president Brendan Nelson on the sidelines of the dialogue.

-- BERNAMA