Kuala Lumpur: Leaders of the Association of Southeast Asian Nations (ASEAN) adopted a statement at the end of their 46th summit in Kuala Lumpur on Tuesday to reaffirm commitment to collective action to address the economic uncertainty and trade instability around the globe.
According to Kuwait News Agency, they expressed concern over the increasing unilateral trade measures and punitive actions, including the reciprocal tariffs and protectionist restrictions on investment, which risk undermining the world economic system. Those actions have direct adverse impacts on the ASEAN economies, according to the statement issued by the host Malaysian Ministry of Foreign Affairs.
The leaders agreed to stand as one to protect regional economic stability, enhance economic resilience, and promote sustainable development. They stressed the importance of maintaining constructive dialogue and mutual respect based on the rules of international law and the Treaty of Amity and Cooperation in Southeast Asia (TAC).
A significant outcome of the summit was the decision to expedite the implementation of the ASEAN Digital Economy Framework Agreement (DEFA) and update the ASEAN Trade in Goods Agreement (ATIGA). These efforts aim to accelerate regional integration and create a stable and competitive business environment.
Moreover, the leaders agreed to update the ASEAN+one free trade agreements (AFTAs) with dialogue partners, such as China, India, Japan, and South Korea. This initiative aims to boost bilateral trade, manage instability in supply chains, and expand cooperation opportunities with new partners, including the Gulf Cooperation Council (GCC) member countries.
To support internal coordination, the leaders launched the ASEAN Geo-economics Task Force and tasked the competent ministers to monitor global economic developments and formulate a unified strategy for emergency responses.
The leaders reaffirmed their commitment to a global multilateral trade system based on transparency, justice, and non-discrimination. They expressed readiness to engage in constructive dialogue with other World Trade Organization members and advocate for substantive reforms to preserve the credibility and resilience of the global trade system.
As the ASEAN Economic Community 2025 enters its final stage, the leaders adopted “the ASEAN Community Vision 2045: Our Shared Future.” This ambitious 20-year vision and its strategic plans aim to ensure seamless coordination across pillars and sectors and implement cross-sectoral strategic measures.
The ASEAN leaders underscored the importance of cooperation with regional partners to ensure stability and peace in the Indo-Pacific region, emphasizing transparency and adherence to the rule of law. Founded in 1967, ASEAN comprises Brunei Darussalam, the Kingdom of Cambodia, the Republic of Indonesia, the Lao People’s Democratic Republic, Malaysia, the Republic of the Union of Myanmar, the Republic of the Philippines, the Republic of Singapore, the Kingdom of Thailand, and the Socialist Republic of Viet Nam.