Deputy Investment, Trade and Industry Minister Liew Chin Tong has called for a bold transformation of ASEAN’s services sector, arguing that the region must rethink its economic fundamentals to stay competitive on the global stage.
Speaking at the ASEAN International Fair of Trade in Services (AIFTIS) 2025, Liew said ASEAN can no longer view services and manufacturing as separate tracks.
“Manufacturing and services are deeply interconnected…The more sophisticated our manufacturing becomes, the more sophisticated our related services will be,” he noted.
He shared that although ASEAN’s services trade grew 12.2% to US$1.29 trillion in 2024, boosted by tourism recovery and robust digital business activity, many member states, including Malaysia, still face structural deficits in services trade — a vulnerability that must be addressed through stronger policy coordination and ecosystem development.
As such, Liew outlined five strategic priorities: Integrating manufacturing and services, building regional champions, strengthening cultural industries, deploying “Team Malaysia” for major global expos and upgrading jobs within the services economy.
“We want Malaysian and ASEAN firms to be recognised as industry leaders, not merely followers,” he said, urging the region to nurture its next Grab or Carsome.
He also highlighted culture as an untapped economic engine, pointing to the global rise of Korean and Chinese creative industries.
“The success of AIFTIS 2025 will reinforce ASEAN’s ability to become a global hub for high-value professional services,” Liew said, officially opening the two-day event.
AIFTIS 2025 marks a strategic step in ASEAN’s ambition to shape, not just follow, the future of global services trade.
