ASEAN Economic Integration Meeting Concludes with Key Recommendations

Strategic Insights -

Delegates from the Association of Southeast Asian Nations (ASEAN) and Timor-Leste gathered for the 48th Meeting of the High-Level Task Force on ASEAN Economic Integration, which concluded in Malaysia on August 5. Key recommendations on ASEAN economic integration were submitted to the ASEAN Economic Ministers' Meeting scheduled for mid-September 2025. The meeting focused on recent global and regional economic developments, implementation of 2025 Priority Economic Deliverables, and progress in performing the ASEAN Economic Community (AEC) 2025 Blueprint.

Key Takeaways:

  • ASEAN member states reviewed the implementation of Malaysia's 2025 Priority Economic Deliverables and progress in performing the ASEAN Economic Community (AEC) 2025 Blueprint.
  • Delegates proposed to streamline the AEC's meeting schedule, assess non-tariff barriers (NTBs) within the region, and explore cooperation with the Asian Development Bank (ADB).
  • The meeting touched upon the proposed ASEAN Framework for Integrated Semiconductor Supply Chains (AFISS), led by the Economic Research Institute for ASEAN and East Asia (ERIA).
  • ASEAN countries noted a regional economic growth rate of 4.8% in 2024 and a projected rate of 4.2% for 2025.
  • Total goods trade reached 3.8 trillion USD, with intra-ASEAN trade accounting for the largest share at 21.4%, followed by trade with China (20.1%), the US (11.8%), and the EU (7.6%).
  • Vietnam reaffirmed its commitment to a rules-based multilateral trading system, with the World Trade Organisation at its core.
  • Vietnam emphasized the need for ASEAN to strengthen its regional position and resilience through deeper economic integration and enhanced relations with external partners.

Statistics:

  • Regional economic growth rate: 4.8% in 2024 and 4.2% projected for 2025.
  • Total goods trade: 3.8 trillion USD.
  • Intra-ASEAN trade: 21.4% of total goods trade.
  • Trade with China: 20.1% of total goods trade.
  • Trade with the US: 11.8% of total goods trade.
  • Trade with the EU: 7.6% of total goods trade.

Sources:

  • "Vietnamese Delegation Attends 48th ASEAN Economic Integration Meeting." Vietnam News Agency. Published by HT Digital Content Services.