VIENTIANE, 8 OCT – ASEAN needs to remain a neutral bloc to face the impact of global geopolitical tensions in an effort to stimulate foreign investment in the region, said Malaysia’s Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz.
When asserting that position, he said the regional bloc also needs to ensure that its inclusiveness and openness become an attractive factor to increase investment, while also emphasizing the aspect of sustainability.
“We trade and make friends with all European countries, western countries and also BRICS countries such as China, Russia and so on.
“At the same time (we are also facing) world economic issues with the growth of the world’s Gross Domestic Product (GDP) which seems to be slower than expected,” he said at a session with the Malaysian media, in Vientiane yesterday.
Tengku Zafrul and his ministry delegation arrived in Laos on October 6 last to attend the 44th and 45th ASEAN Summits and Related Summits which started today until October 11.
He also participated in the 24th ASEAN Economic Community (AEC) Council Meeting yesterday.
Explaining further, Tengku Zafrul said that despite global economic and geopolitical uncertainty, ASEAN still receives high investment even though global foreign direct investment (FDI) is declining.
“We are (recording progress) against the trend, so this is something positive. Another issue is tariffs that may be used to protect some markets and the importance for ASEAN to continue discussing with other blocs, especially multilateral platforms such as the World Trade Organization (WTO),” he said. – Named
