The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Business council chief flags urgent need for S-E Asia to deepen integration amid rising protectionism

Nazir Razak of the Asean Business Advisory Council Malaysia lauds the Johor-Singapore Special Economic Zone as a model for this cooperation

Summarise
google-preferred-sourceAdd BT as a preferred source
Tan Ai Leng

Tan Ai Leng

Published Thu, May 1, 2025 · 07:00 AM
    • Nazir Razak, who chairs the Malaysian chapter of the Asean Business Advisory Council, says: “When others are building high walls, Asean should widen its negotiation table. If we cannot turbocharge integration now, we risk missing a major opportunity.”
    • Nazir Razak, who chairs the Malaysian chapter of the Asean Business Advisory Council, says: “When others are building high walls, Asean should widen its negotiation table. If we cannot turbocharge integration now, we risk missing a major opportunity.” PHOTO: NAZIR RAZAK

    [KUALA LUMPUR] The chairman of the Asean Business Advisory Council (Asean-BAC) Malaysia has called on South-east Asia to overcome the region’s fragmented regulations and deepen regional integration to unlock the full potential of its market of nearly 700 million people.

    Nazir Razak warned that delaying this push risks the region being left behind amid rising global protectionism.

    Despite having made progress in reducing tariffs, he said that South-east Asia still faces significant non-tariff barriers and an uneven enforcement of trade rules, which have hindered efforts to build a seamless regional market.

    AseanJohor-Singapore SEZAsean Business

    TRENDING NOW

    Why is Apac poised to become such a significant market for aviation?

    Asia-Pacific aviation: is up really the only way?

    ‘If a family develops a muscle for decision-making through philanthropy, these abilities can be carried across into more complex and emotionally charged conversations around succession, inheritance and stewardship,’ says Scott Chang, head of philanthropy, Asia, wealth planning and family advisory at Standard Chartered Global Private Bank.

    Philanthropy should belong in the family wealth conversation: Standard Chartered Global Private Bank

    Russian President Vladimir Putin (right) meeting Myanmar President Min Aung Hlaing (left) at the Grand Kremlin Palace in Moscow on Aug 18.

    Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies

    Andrew Yeo was at the helm of Income Insurance in July 2024 when Allianz proposed to buy a majority stake in it.

    Income Insurance CEO Andrew Yeo resigns, company in process of identifying successor

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More