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Asean is looking to engage with new trading blocs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to strengthen its trade network, said Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz.

Speaking during his opening remarks at the 57th Asean Economic Ministers (AEM) Meeting on Tuesday (Sept 23), Tengku Zafrul said the move underscores Asean’s openness to business and investment, as well as its commitment to securing diverse markets and reinforcing its role as a cornerstone of global trade.

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00:00So, Your Excellencies, we gather at a vital time for our region and the global economy,

00:06a time of both great challenges and opportunities.

00:09It is evident in our discourse throughout the series of meetings we had today

00:14that while the global economic climate may seem to be hanging in a balance,

00:20our region remains unwavering and resolved in standing united and open for cooperation and collaboration.

00:27It may be intra-ASEAN or with other economies.

00:32Our journey over the decades has time and time again shown that our act of standing and working together

00:41has maintained ASEAN's edge as a resilient and thriving economic community,

00:47enabling us to advance prosperity for our people.

00:50So, today we face a world of heightened economic uncertainties,

00:54from slower growth forecasts to geopolitical tensions and the troubling rise of protectionism

01:01with selective tariffs and trade measures eroding the foundations of the rule-based global trade order.

01:09Yet, ASEAN chooses a different path.

01:12Through the special AEM meeting that we convened in April 2025,

01:16we send a signal to the world that instead of deploying approaches that are insular or retaliatory,

01:22ASEAN's truth firm that open communication, integration and cooperation are the pathways to share prosperity

01:30and safeguarding our region's economic stability, resilience and long-term growth.

01:36We have learned from the past crisis that deeper cooperation is the key to resilience and growth.

01:42After the trials of the late 1990s and the global financial crisis,

01:48sound policies paired with regional integration enable ASEAN to emerge stronger and more connected.

01:55The AEC has come a long way following the narrative of the AEC blueprint 2025 and also the 2015.

02:03In making ASEAN a seamless single production and investment hub,

02:07we strive towards becoming a region that promotes the free flow of goods, services, capital and innovation.

02:15To this end, we have successfully concluded negotiations in upgrading the ITGAR

02:19to further reduce tariff and non-tariff barriers for intra-trade ASEAN.

02:24So in addition, we are also on track to conclude the ASEAN DEFA by end of 2025,

02:30or substantially conclude,

02:31aligning digital rules and standards to boost cross-border e-commerce and payments.

02:37So both these endeavors will certainly make it easier for our businesses to operate across the region

02:43and significantly increase trade among member states.

02:46In short, a more integrated ASEAN is our best response to an answer to the world.

02:53So, Your Excellencies, as we strengthen our internal integration,

02:56we also recognize that our region's prosperity has always been tied to the wider world.

03:03So our community's economic success is built on openness and connectivity with global partners.

03:10So I believe Your Excellencies agree with me that ASEAN will continue to build bridges,

03:15not walls, with our key trading partners,

03:18by remaining committed to the rule-based trading system with WTO at its core.

03:25So let's continue to do our part to uphold free, fair, and non-discriminatory trade

03:30while cushioning the risk of being at the mercy of larger economies.

03:35Indeed, ASEAN's centrality in global trade has never been more apparent.

03:40The RCEP now, in effect, has created the world-largest free trade area

03:44covering approximately 30% of global GDP with ASEAN at its center.

03:50We are also actively deepening strategic trade relations with new economies,

03:55with the last latest example being our readiness to further enhance collaboration between ASEAN and the GCC.

04:02So this builds on the new ASEAN-GCC Joint Declaration on Economic Cooperation

04:07in the recent 46th Summit.

04:12We are also strengthening economic ties with our existing dialogue partners

04:16through our upgrading of several ASEAN plus-one FTAs,

04:19such as the ASEAN-China FTA 3.0, the ITIGA review,

04:24and soon the ASEAN-Korea FTA upgrade.

04:27We are also exploring meaningful engagement with new trading blocks,

04:31one of them being a dialogue between ASEAN and the member economies of CPTPP

04:36to discuss areas of mutual interest.

04:40So these initiatives reinforce a diversified robust network to deliver.

04:45Thank you very much.

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