Asean's Quest for Lasting Peace and Prosperity

Strategic Insights -

Asean has enjoyed a relative period of peace and prosperity for nearly six decades, but Prime Minister Datuk Seri Anwar Ibrahim warned that this is not self-sustaining and requires renewed cooperation and a shared sense of purpose. The region's stability must be strengthened through deepened economic links, widened trade, and enhanced competitiveness. The upgraded Asean Trade in Goods Agreement (Atiga) and the new Asean Power Grid Financing Facility will create a more seamless regional market and unlock greater opportunities for businesses and workers.

Key Takeaways:

  • Asean's stability is not self-sustaining and requires renewed cooperation and a shared sense of purpose.
  • The upgraded Asean Trade in Goods Agreement (Atiga) will create a more integrated market, unlocking scale, efficiency, and opportunity for businesses and workers.
  • The new Asean Power Grid Financing Facility will bridge funding gaps and accelerate the transition towards cleaner, more secure energy.
  • Asean is advancing the Asean Blue Economy Framework and the Regional Electric Vehicle Ecosystem, laying the foundation for sustainable industry and green growth across the region.
  • The Asean Digital Economy Framework Agreement will be fast-tracked by 2026, following projections that the bloc's digital economy will double to US$2 trillion by 2030.
  • The Asean AI Safety Network (AI SAFE) will be established to embed ethics, safety, and sound governance in the use of artificial intelligence.
  • Asean must adapt to rising protectionism and shifting supply chains, with Malaysia chairing the Asean-GCC and Asean-GCC-China Summits, and convening the fifth Regional Comprehensive Economic Partnership (RCEP) Leaders' Summit.
  • The bloc will deepen cooperation with the BRICS and G20 countries, with Malaysia's chairmanship focusing on strengthening Asean's unity, resilience, and global relevance.
  • Malaysia will prioritize peace, unity, and economic growth in its chairmanship of Asean this year.
  • The 47th Asean Summit and Related Summits will address the conflict in Myanmar, which must be resolved through Myanmar-owned and Myanmar-led efforts.
  • Lasting peace in Myanmar cannot be imposed, but must come from within, with Asean drawing on every available channel and partner to reduce violence and ease the humanitarian crisis.

Statistics:

  • US$2 trillion: The projected size of Asean's digital economy by 2030.
  • 2026: The year by which the Asean Digital Economy Framework Agreement will be fast-tracked.
  • US trillion: The size of Asean's economy in the next few years, with a projected growth rate of 5% per annum.
  • 20th: The East Asia Summit, which will be convened with the participation of Brazil and South Africa as guests of the chair.
  • 2025: The year that demands more from Asean, as the old order is no longer certain and the new one yet to be defined.

Sources:

  • "PM Anwar calls for deeper cooperation to achieve lasting peace" by Qistina Sallehuddin, Bernama (47th Asean Summit)
  • "Asean's Digital Economy Framework Agreement to be fast-tracked by 2026" by Iylia Marsya Iskandar, Bernama (47th Asean Summit)
  • "Asean to convene the fifth Regional Comprehensive Economic Partnership (RCEP) Leaders' Summit" by Nor Ain Mohamed Radhi, Bernama (47th Asean Summit)
  • "Asean to deepen cooperation with the BRICS and G20 countries" by Hakim Mahari, Bernama (47th Asean Summit)
  • "Malaysia's chairmanship of Asean this year prioritizes peace, unity, and economic growth" by Faiqah Kamaruddin Anwar, Bernama (47th Asean Summit)