Prime Minister Datuk Seri Anwar Ibrahim stated that Asean and China should prioritize regional peace, stability, prosperity, and the development of bilateral and multilateral trade relations. He emphasized the importance of these goals in light of post-pandemic challenges, geopolitical tensions, and other destabilizing factors. Anwar, who also serves as Finance Minister, emphasized the need for Asean and China to diversify their trade and investment strategies as global progress is being made.
Despite global economic challenges, Asean is still regarded as an attractive destination for international investment. It experienced an economic growth rate of 5.5% in 2022, with a projected growth rate of 4.6% for 2023. These figures exceed the global average growth rate predicted by the International Monetary Fund (IMF), which is 3.5% for 2022 and 3% for both 2023 and 2024. Anwar highlighted these statistics in his opening remarks at the 20th China-Asean Expo (CAExpo) and the China-Asean Business and Investment Summit (CABIS) in Nanning.
In his speech, Anwar greeted the distinguished guests in Mandarin and emphasized the need for Asean and China to intensify their cooperation in the digital economy. He stressed that empowering micro, small, and medium enterprises (MSMEs) in the digital age is crucial. MSMEs make up 85% of employment, contribute 44.8% to gross domestic product (GDP), and account for 18% of national exports in Asean.
Anwar also mentioned the Asean Economic Recovery Framework, which highlights the importance of maintaining supply chain connectivity and eliminating trade barriers for essential goods and services. He expressed confidence in the seamless continuation of trade activities and its contribution to regional economic recovery due to robust infrastructure.
Credit: The Star : News Feed
