To thrive in uncertain times, Asean must go further on integration and resilience, says PM Wong
He urges Asean to deepen trade ties, tap new growth areas and build resilience
[KUALA LUMPUR] Singapore Prime Minister Lawrence Wong called on Asean member states to stay united and strengthen cooperation amid “profound changes” in the global landscape, as the bloc convened for the 47th Asean Summit on Sunday (Oct 26).
Speaking in the Malaysian capital during the biannual meeting’s plenary session, which included Asean’s latest member Timor-Leste for the first time, he proposed three areas for the bloc to focus on.
The first, he said, is deepening intra-Asean integration. While the Asean Free-Trade Area is almost tariff-free, PM Wong noted that it is not completely so.
“We should really endeavour to bring tariffs down to zero,” he said, adding that beyond tariffs, businesses still face a complex operating environment in Asean, and more needs to be done to help them operate seamlessly across the region.
This means reducing non-tariff barriers, harmonising regulations and strengthening intra-Asean supply chains, while tapping new growth areas such as the green and digital economies through initiatives such as the Digital Economy Framework Agreement (DEFA), regional digital payment linkages, and the Asean Power Grid to accelerate Asean integration.
On Friday, Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong said that a substantial conclusion on DEFA has been achieved, with the next stage focused on finalising the pact for signing by next year.
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Second, PM Wong said Asean should forge new partnerships, noting growing interest from Canada, the European Union and the Gulf Cooperation Council in pursuing free trade agreements, with potential to deepen ties with regions such as Africa and Latin America.
In a world of rising trade barriers, he said that Asean must stay open and create new channels for trade and investment to keep global flows moving.
Lastly, PM Wong said that Asean must strengthen its resilience in the face of emerging threats.
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This includes raising awareness, as well as vigilance, against cybercrime and online scams, and tackling the public health issues posed by e-cigarettes and vaping products.
“An Asean that is integrated, successful and resilient will have greater credibility… with our external partners,” said the Singapore leader.
He noted that many countries and groupings, from the Pacific Islands to South America, are keen to work with Asean as they “see promise in our region’s dynamism”.
As such, he said that Asean should engage these partners in areas of mutual interest and leverage its strengths to tap new opportunities around the world.
In his speech, PM Wong also welcomed Timor-Leste as Asean’s 11th member, and he gave the assurance to South-east Asia’s youngest nation that Asean would continue to support its integration.
He also commended Malaysia’s Prime Minister Anwar Ibrahim for steering Asean through “a very eventful year” as the bloc’s chair this year.
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