ASEAN Chairmanship: Malaysia to Step Up Efforts to Attract Investments and Boost Trade
Introduction
VIENTIANE, Oct 11 (Bernama) — Malaysia, which will take on the ASEAN chairmanship next year, will step up efforts to attract investments from and boost trade with the bloc’s member countries and dialogue partners.
Attracting Investments and Boosting Trade
Prime Minister Datuk Seri Anwar Ibrahim said that towards that end, Malaysia will leverage international cooperation under the East Asia Summit, which involves 18 participating countries, including the 10 ASEAN member states, Australia, China, India, Japan, New Zealand, Russia, South Korea, and the United States.
"Malaysia intends to ensure all these meetings would help attract investments and grow trade, including increasing sales of oil palm products," he told the Malaysian media on the final day of the 45th and 46th ASEAN Summits and Related Summits here today.
ASEAN Community Vision 2045
According to the prime minister, Malaysia will launch the ASEAN Community Vision 2045, a strategic framework aimed at supporting regional cooperation over the next two decades.
"This is a very good opportunity and has been agreed on," he said.
Assisting Timor-Leste in Joining ASEAN
In a separate development, Anwar said Malaysia will assist in expediting the process of Timor-Leste being accepted as a full member of the bloc.
However, he said, the country would still have to meet several set conditions.
"But through the Foreign Ministry, we will try to expedite the process and assist (Timor-Leste). Most of the obstacles are related to economic regulations; and Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz will assist in terms of securing approval for several required preconditions," he added.
Conclusion
Malaysia’s efforts to attract investments and boost trade with other ASEAN member countries and dialogue partners are expected to have a positive impact on the region’s economy. The launch of the ASEAN Community Vision 2045 and assistance in Timor-Leste’s membership bid are also crucial steps towards strengthening regional cooperation and integration.
FAQs
- What is Malaysia’s plan for ASEAN chairmanship next year?
Malaysia will step up efforts to attract investments and boost trade with ASEAN member countries and dialogue partners. - What is the East Asia Summit?
The East Asia Summit involves 18 participating countries, including the 10 ASEAN member states, Australia, China, India, Japan, New Zealand, Russia, South Korea, and the United States. - What is the ASEAN Community Vision 2045?
It is a strategic framework aimed at supporting regional cooperation over the next two decades. - How will Malaysia assist Timor-Leste in joining ASEAN?
Malaysia will assist in expediting the process and securing approval for several required preconditions through the Foreign Ministry and Investment, Trade and Industry Minister.