Menteri Besar Dato’ Seri Amirudin Shari has challenged Asean member states to prioritise countries in the region when doing business rather than looking elsewhere.
Despite being a trading bloc, more trade is conducted with non-Asean states than within the region. He also called for more trust, collaboration, and partnerships among members.
At present, despite US$3.8 trillion in total trade and US$224.2 billion in foreign direct investment, Asean’s biggest trading and investment partners are outside the region.
“Yes, there must be competition, but it should be healthy. I believe that by competing with one another, we can push each other to achieve better success, but this competition should not be detrimental to our partners.
“Political leaders in Asean must discuss, outline, and negotiate a new regional strategy for human progress by developing an intra-region comparative advantage,” he said in his keynote address during the opening of the 7th Selangor Asean Business Conference (SABC) 2023 today.
In this manner, Amirudin believes Asean countries and business leaders can shift from being among the lowest salary payers to challenging the very top
To achieve this, the Menteri Besar said Asean needs to develop new technologies and not be left behind in the artificial intelligence race.
While the United States and China are the current prime movers in the digital space via firms like Google, Apple, and Alibaba, Asean can tap into its vast knowledge to develop its own technology companies by using 5G and exploring digital education, healthcare predictive analysis, renewable energy, fintech, and more efficient logistics.
“That is why Selangor is committed to hosting SABC. It is not limited to building connections, we see great opportunities to discuss ideas and develop strategies in these areas. We need to do more.
“As the Menteri Besar of Malaysia’s number one state, I see immense opportunity for Selangor to drive forward in these fields and encourage other states and businesses in the region to join us on this journey,” he said.
The two-day SABC is part of the Selangor International Business Summit (SIBS) 2023, held at the Kuala Lumpur Convention Centre here. SIBS begins today and will run until Sunday (October 22).
Under the theme ‘Selangor, Epicentre of Asean: Leveraging Diversity, Catalysing Opportunity’, SABC is a dynamic platform for thought-provoking discussions, knowledge sharing, and networking opportunities among participants
