00:00The Iceland Report, the second chart.
00:04Welcome, Your Excellencies and Delegation, to Kuala Lumpur.
00:08I'm honoured and grateful for the attendance of Your Excellencies in this hall,
00:14as well as virtually, in convening the 25th AECC meeting.
00:20It is good to see everyone again, as we were just fresh from meeting each other virtually this week
00:26for a series of AEM consultations with our dialogue partners,
00:31including China, Japan, Australia and New Zealand.
00:35Indeed, the past month or so, all of us have been occupied with calculus analysis,
00:42as well as calculated measures and actions in addressing the researches in economic posture
00:48by the United States, the United States and the United States.
00:52There are key policy directions, such as the reciprocal tariff policy,
00:57strategic recovery and supply chain, french ordering,
01:00and utilisation of tighter trade enforcement tools,
01:03has prompted us to collectively understand, adapt to and strategically engage with this shift.
01:11I'm proud to say that ASEAN's response so far has been measured and wise.
01:14With a state of retaliation, we have chosen dialogue and cooperation
01:19with a clear commitment among ASEAN member states to not impose retaliatory measures,
01:26emphasising that open communication is key to a balanced and sustainable relationship.
01:32This prudent stance has already adverted escalation
01:36and preserve the foundation for engagement between ASEAN,
01:41not just with the U.S., but with other major economies as well.
01:46At our end, Malaysia, as the chair of ASEAN 2025,
01:50will try our best in steering the right conversations
01:53to transpire at the right time with the right parliament economies for the remainder of the year.
01:59At the same time, we also internally need to look into ways
02:03to decrease intra-ASEAN trade so as to reduce our dependencies towards external partners.
02:14Your Excellencies, it is expected that for our meeting today is to be short and sweet.
02:21While there will be 11 agenda items to be discussed with a span of half a day,
02:26I trust the build-up and progress of almost all the ASEAN initiatives
02:32which will be updated to us today.
02:34We will be showing positive development,
02:36thanks to the hard work and commitment by our senior officials
02:40and sectoral motives in implementing the tasks in the nation
02:44by the sense of thank you, senior officials.
02:47Hence, we can focus more on specific areas of issues
02:50that may require the EECC's intentions and guidance
02:54to make our discourse more efficient today.
02:57We will also put some emphasis on the items that the EECC
03:01will need to endorse for the submission of the ASEAN Coordinating Council of the ACC
03:05and subsequently the 46th ASEAN Summit.
03:09So, Your Excellencies, before I end by opening remarks,
03:12I would like to reiterate what I have previously mentioned
03:15during the 31st AEM retreat back in February 2035.
03:18Let us be reminded of the values that bind us together as ASEAN,
03:23peace, stability, mutual respect, and the determination
03:27to ensure a better future for all.
03:30ASEAN's journey has never been without challenges,
03:32but time and again, we have proven resilient,
03:35pragmatic, and forward-looking, guided by these values.
03:39The current economic environment that we're in calls not for retreat,
03:44but for renewed resolve.
03:47Therefore, let us approach our discussions today
03:50to an open mind, a spirit of collaboration,
03:53and a commitment to advancing our reform and leaders.
03:57I would like to also welcome Timor-Leste's participation today,
04:01and in accordance with the revised guidelines adopted
04:04by the 35th ASEAN Coordinating Council,
04:08Timor-Leste is invited to engage in today's discussions.
04:14I would now like to request the members of the media
04:19to exit this hall as the AECC to convene
04:23with our first agenda, the Trumpy.
04:25I would now like to request the members of the media,
04:30and I would like to request the members of the media,
04:32and I would like to request the members of the media,
04:34and I would like to request the members of the media,
04:36and I would like to request the members of the media,
04:38and I would like to request the members of the media,
04:40and I would like to request the members of the media,
04:42and I would like to request the members of the media,
04:44and I would like to request the members of the media,
04:46and I would like to request the members of the media,
04:48and I would like to request the members of the media,
04:50and I would like to request the members of the media,
04:51and I would like to request the members of the media,
04:52and I would like to request the members of the media,
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