ASEAN Foreign, Economy Ministries Must Work Together To Boost Regional Trade – Mohamad

KUALA LUMPUR, July 9 (Bernama) -- The ASEAN Ministry of Foreign Affairs and the Ministry of Economy must work closely together to enhance regional trade and investment, said Foreign Minister Datuk Seri Mohamad Hasan.

He said a joint forum involving ASEAN foreign, economic and trade ministers will be held to discuss the action plan ahead of the 47th ASEAN Leaders' Summit.

"Before the summit of heads of state and government, the foreign ministers and ministers of economy and trade will convene in a single forum.

“It is intended for us to discuss and agree on an action plan to realise our aspirations of enhancing trade and investment among ASEAN countries,” he told reporters after the plenary session of the 58th ASEAN Foreign Ministers’ Meeting (AMM) here on Wednesday.

The 57th ASEAN Economic Ministers Meeting (AEM) is scheduled to take place from Sept 22-28, ahead of the 47th ASEAN Summit and Related Summits, which are set to be held from Oct 26-28.

Mohamad also raised concerns about trade and non-trade barriers, emphasising that coordinated action within the ASEAN bloc is crucial.

“If necessary, we must address these trade and non-trade barriers head-on. We need to be more efficient, as the world has changed dramatically.

“We cannot afford to wait for others. The best approach now is through collective ASEAN action,” he said.

Mohamad also underscored the importance of inter-ministerial coordination to ensure that decisions and agreements translate into integrated actions, thereby strengthening and aligning regional operations.

ASEAN's total trade increased significantly to US$3.8 trillion in 2024 from US$2.3 trillion in 2015, while intra-ASEAN trade rose to US$800 billion from US$500 billion during the same period.

The 58th AMM and related meetings, held from July 8 to 11, under Malaysia's ASEAN chairmanship,  carried the theme "Inclusivity and Sustainability," and featured 24 ministerial-level engagements involving ASEAN Dialogue Partners and Sectoral Dialogue Partners.

The four-day high-level event brought together around 1,500 participants, including ASEAN foreign ministers, representatives from Timor-Leste, ASEAN Dialogue Partners, ASEAN Regional Forum participants, Sectoral Dialogue Partners, and senior officials from the ASEAN Secretariat.

-- BERNAMA