ASEAN and China’s collective efforts must focus on regional peace, stability, prosperity, as well as fostering bilateral and multilateral trade relations, Prime Minister Anwar Ibrahim said.

This is in the face of the post-pandemic challenges, geopolitical tensions and a host of other destabilising factors, said Anwar, who is also finance minister.

He said Asean will remain as one of the fastest-growing regions this year and it’s vital for the bloc and China to diversify their trade and investment strategies as the world progresses.

“Despite global economic challenges, Asean remains an attractive destination for international investment, charting an economic growth of 5.5% in 2022, with 4.6% projected for this year.

“This trajectory places Asean well above the global average, which the International Monetary Fund has forecast 3.5% for last year and 3% for (both) 2023 and 2024,” he said in his opening remarks at the 20th China-Asean Expo and the China-Asean Business and Investment Summit in Nanning today.

Meanwhile, Anwar also urged Asean and China to intensify their cooperation in digital economy to empower the micro, small and medium enterprises (MSMEs) to thrive in this digital age.

He said the MSMEs contribute 85% to employment, 44.8% to the GDP and 18% to national exports in Asean. 

“Hence, their role in contributing to value-added activities, innovation and inclusive growth cannot be overstated,” he said.

On the Asean Economic Recovery Framework, he said it outlines the importance of uninterrupted supply chain connectivity and the facilitation of essential goods and services by eliminating trade barriers. 

“With robust infrastructure, I am confident there will be seamless continuation of trade activities, contributing to regional economic recovery,” he said.

On China’s Belt and Road initiative (BRI), Anwar said Malaysia, as an early supporter, envisions this initiative as a gateway to new connectivity horizons and growth opportunities across Southeast Asia, Asia Pacific, Africa and Central and Eastern Europe. 

Citing the Malaysia-China Kuantan Industrial Park and China-Malaysia Qinzhou Industrial Park, developed under the “Two Countries, Twin Parks” concept, the prime minister said the parks are exemplary BRI projects.

“We deeply appreciate China’s unwavering support, particularly in ensuring that economic growth translates into shared prosperity,” he said.

On the Regional Comprehensive Economic Partnership, he said it is a testament to Asean and China’s commitment to economic integration, ensuring supply chain resilience and market openness during global challenges. – Bernama, September 17, 2023. 

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