Asean to revive stagnant intra-regional trade – Tengku Zafrul - video Dailymotion

The Star

Asean will intensify efforts to deepen regional economic integration and revive intra-regional trade, which has remained stagnant at about 20 to 22 per cent amid an increasingly volatile and uncertain global trading landscape.  In his opening remarks at the 57th Asean Economic Ministers' Meeting and 39th Asean Free Trade Area Council in Kuala Lumpur on Tuesday (Sept 23), Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that with nearly 700 million people, Asean is one of the world's largest and most dynamic consumer bases and holds immense potential.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00As stated in the agenda, our discussions will focus on matters related to the implementation

00:11of ATIGA and ways of strengthening economic agenda for ASEAN, especially the integration

00:20agenda.

00:22So Excellencies and members of the meeting, while ASEAN continues to grow from strength

00:27to strength, and we want to strengthen our position as the investment destination for

00:34global investments, the increasingly volatile as well as uncertain global trading environment

00:41demands that ASEAN double down its efforts to deepen regional economic integration.

00:50So with nearly 700 million people that forms one of the world's largest and most dynamic

00:58consumer base, ASEAN holds immense potential.

01:03Yet the intra-ASEAN trade has remained stagnant, I think for around 20 to 20 percent, and we

01:10have an opportunity to continue to increase this.

01:13Strengthening intra-ASEAN trade is not an economic aspiration, not merely an economic aspiration.

01:20It has now become a strategic imperative to act to build a more resilient, self-reliant and

01:27globally competitive ASEAN.

01:29So we must heighten our efforts to overcome persistent implementation challenges.

01:35to accelerate trade facilitation and enhance physical, digital and regulatory connectivity across the

01:42region.

01:44So Excellencies, we have today, in terms of time, before we move to Agenda 1, I would like

01:55to invite all ministers for photo session, but I have just been reminded to say that on economic

02:04integration and resilience, I am pleased that ASEAN has embarked on the Artiga upgrade and

02:10successfully concluded the negotiation, as we discussed in the last meeting, and we will

02:16be on track to sign the agreement at the upcoming summit.

02:23So from there, I would like to now invite all of you to take a photo, and please make sure

02:33all of you give us the best smile.

Asean to revive stagnant intra-regional trade – Tengku Zafrul

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