00:00Malaysia is taking the lead as ASEAN Chair in hosting a Regional Comprehensive Economic Partnership or RCEP Summit this October during the 47th ASEAN Summit.
00:11Prime Minister Datuk Sri Anwar Ibrahim says the summit will highlight Asia's role in driving openness at a time of rising protectionism.
00:20The Regional Comprehensive Economic Partnership remains the largest free trade area in the world, covering 30% of the global GDP.
00:32But RCEP must not remain a legal tax on paper. It must be renewed with political energy.
00:39Now Malaysia intends to convene an RCEP Summit in October in conjunction with the ASEAN Leaders Summit.
00:48The aim is to take stock, accelerate implementation and to demonstrate that Asia can still lead the course of openness even as others turn inward.
01:03He was speaking at the Kuala Lumpur Roundtable on Asia-Pacific Regional Corporation at Shangri-La KL.
01:10Meanwhile, sharing his insights on the discussions there, ISIS Malaysia Chairperson Datuk Prof. Dr. Mohd Faiz Abdullah
01:16said countries showed they are taking a coordinated approach tackling U.S. tariffs with collective strength.
01:22There is a general consensus that there has got to be the need not to be hysterical about the reaction, but to be a bit more sensible here.
01:32But that doesn't mean capitulation. That doesn't mean, you know, the white flag doctrine of surrender.
01:38What it means is that nations with common interests must get together and build up the strength to get that critical mass
01:47in order to put their positions better when dealing with the question of tariffs.
01:51We have representatives in those areas where you could solicit their views specifically on how the tariff situation is working out.
01:59But there is no panic. There is no gloom and doom in the sense that challenges are there, hate wins are there,
02:06but there will be a resolve to deal with it accordingly.
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