00:00We know that today, and in today's fragmented world, economic compartmentalization, as once
00:20propounded by Joseph Schepeter, can no longer serve the complex, interdependent nature of
00:28geoeconomics.
00:30Unfortunately, we are living through a weaponization of interdependence.
00:35Instead of advancing facilitation, energy pipelines, shipping routes, semiconductor supply chains
00:44now have become instruments of unfair leverage.
00:48Payment systems and capital flows are deployed as tools of pressure.
00:54Now, the result is pervasive uncertainty, a sense of fragility.
01:01This is the new reality.
01:04We convene here to discuss the principle centrality, working together, but we also have to realize
01:11and accept the reality of unbridled mercantilism, of generating economic disparities or disruptions.
01:25Export restrictions will have profound security and geopolitical implications as well.
01:34But history shows us that when nations compete to be rewards, prosperity declines and instability
01:44spreads.
01:45That is precisely the reason why we argue for sovereign interdependence and effective collaboration
01:57with all.
01:58We are entering a world without a single center of gravity.
02:03Some describe this as a new age of geoeconomics, where trade, finance, technology and security
02:09no longer run on separate tracks but converge as points of rivalry.
02:16Others call it a return to spheres of influence, where major powers seek to divide the map into zones
02:23of control.
02:24To my mind, neither path serves the interests of smaller nations, Malaysia and ASEAN.
02:32Because sovereign interdependence offers another way.
02:37It accepts that interdependence is unavoidable, but insists that it must be built on choice,
02:45on resilience and mutual respect.
02:48It preserves openness while safeguarding dignity.
02:53It rejects both enforced dependence and enforced decoupling.
02:59Now, Asia's dynamism is clear.
03:02While our middle classes are growing, our digital economies are expanding and trade volumes remain
03:08resilient, fragmentation is real.
03:12Demographic headwinds in North East Asia, unresolved rivalries across the region, and the risk of polarization
03:20all the way heavily.
03:22If the Asian century is to be realized, it will require deliberate effort.
03:28Convergers such as this.
03:30Great minds.
03:31Men Kin Moon.
03:32Men Kin Moon.
03:34And friends.
03:35To think, to ensure that policies are well coordinated, and investment in shared resilience.
03:44Now, ASEAN offers a model built on open, inclusive, and non-exclusive regionalism.
03:54It remains one of the few groupings where rivals sit together in dialogue.
04:00Malaysia is determined to preserve that centrality, not as rhetoric, but as practice,
04:07that requires deepening the architecture of regional cooperation.
04:11This year, ASEAN and China concluded negotiations for the ASEAN-China Free Trade Area 3.0.
04:20It will be presented to leaders in October.
04:23It now embraces the digital economy, grain growth, supply chain connectivity, technical standards,
04:31and support for small and medium-sized enterprises.
04:36It reflects the new realities of our time, that prosperity today is shaped not only by fair trade,
04:44but also by data flows, by digital platforms, and by sustainable energy transitions.
04:52For ASEAN, this FTA demonstrates the engagement with China can be rules-based, inclusive, and future-oriented.
05:02At the same time, we must not neglect the wider architecture of the Asia-Pacific.
05:07The Regional Comprehensive Economic Partnership remains the largest free trade area in the world,
05:14covering 30% of the global GDP.
05:17But RCEP must not remain a legal text or paper.
05:21It must be renewed with political energy.
05:24Now, Malaysia intends to convene an RCEP Summit in October, in conjunction with the ASEAN Leaders Summit.
05:34The aim is to take stock, accelerate implementation, and to demonstrate that Asia can still lead the course of openness,
05:45even as others turn inward.
05:54The One-fi has been to develop an idea of acceptance,
06:15also known as Tabas Nandara or warраж during the year.
