Malaysia is gearing up to take the helm of ASEAN leadership, succeeding Laos by the end of 2024 and subsequently hosting ASEAN meetings throughout 2025. “Malaysia will assume the role of Chair of ASEAN from Lao PDR at the end of 2024 and will subsequently host ASEAN meetings for the year 2025.” said Deputy Minister of Investment, Trade and Industry, Liew Chin Tong.
With ASEAN structured around three primary pillars—the ASEAN Political-Security Community (APSC), the ASEAN Economic Community (AEC), and the ASEAN Socio-Cultural Community (ASCC)—Malaysia will lead discussions on the ASEAN Community Vision 2045 framework.
Under the coordination of the Ministry of Investment, Trade and Industry (MITI), particularly in its role overseeing the AEC pillar, Malaysia is formulating Priority Economic Deliverables (PEDs).
These PEDs focus on four critical areas: (i) enhancing intra-ASEAN trade and investment, (ii) integrating and connecting economies, (iii) fostering an inclusive and sustainable future, and (iv) driving digital transformation.
To bolster trade and investment within the ASEAN region, numerous Free Trade Agreements (FTAs) inked by ASEAN are undergoing comprehensive reviews and upgrades.
This underscores ASEAN’s and Malaysia’s unwavering commitment to nurturing mutually beneficial trade relationships among member nations.
Additionally, these efforts aim to ensure that ASEAN FTAs remain aligned with evolving regional and global economic landscapes.
Among the notable FTAs currently under review and enhancement are the ASEAN Trade in Goods Agreement (ATIGA), ASEAN-India Trade in Goods Agreement (AITIGA), ASEAN-China Free Trade Area (ACFTA), ASEAN-Canada Free Trade Agreement (ACaFTA), and ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).
