Malaysia’s ASEAN Chairmanship: Brings Great Opportunities and Success

Dr. Syed Mehboob

Political and Economic Analyst

http//:www.thenewslark.com

2025 is a year of great achievements for Malaysia. Malaysia will join BRICS, and this year, it will chair ASEAN. Malaysia’s bid to join BRICS, along with its commitments to ASEAN, could increase its ability to confront global challenges, leverage international partnerships, and bolster its influence in both blocs. Despite the rising power of BRICS challenging G7’s dominance, Malaysia’s commitment to an integrated global economy will allow it to sustain robust ties with G7 and ASEAN, expanding its strategic and economic horizons and strengthening its position among emerging and established powers. Malaysia’s joining in BRICS and its Chairmanship for ASEAN will strengthen its global position, will further enhance its image and will allow the application of best practices across both forums, reinforcement of its role in ASEAN as well. Joining BRICS could open up new channels of dialogue, allowing Malaysia to participate more effectively in global discussions on equitable development and trade financing, and further uplift its global profile.

ASEAN is the long-standing cornerstone of Malaysia’s Foreign Policy and the country remains committed to its principles of regional integration and cooperation. Malaysia’s commitment to ASEAN is deep. It is a vibrant, active, and very important participant in frameworks such as the ASEAN Economic Community, the Regional Comprehensive Economic Partnership, and the ASEAN Plus-One FTA with Dialogue partners. ASEAN Chairmanship from Malaysia is a strategic opportunity to steer the region toward global presence, including with BRICS, on the issues of trade, sustainable development,and technological innovation. Malaysia’s leadership might also help align ASEAN’s BRICS engagement with its values of inclusivity and stability, enhancing ASEAN’s influence in global economic governance. The GDP of ASEAN countries is approximately US$3.78 trillion. The G7 countries are major trading partners for ASEAN, as major markets for electronics, machinery, textiles, and agricultural products. This robust trade relationship is strengthened by substantial investment flows from G7 countries into ASEAN. With Malaysia as ASEAN chairman in 2025, there could be more multilateral engagements or ASEAN Plus meetings with various countries in BRICS.

As Chair, Malaysia commits to steering the Association forward in strengthening regional peace, stability, and prosperity. Malaysia will aim to fortify ASEAN centrality, promote strategic trust among nations through sustained dialogues, diplomacy, and goodwill, continue to push for greater commitment to enhance ASEAN intra-trade and investment, and ensure that the elements of inclusivity and sustainability take center stage in regional community-building efforts.The year 2025 is a momentum year for ASEAN as it celebrates the 10^th anniversary of the formal establishment 2025. It marks another milestone in regional community building with the adoption of the ASEAN in the future.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten Southeast Asian countries. Indonesia, Malaysia, the Philippines, Brunei Darussalam, Vietnam, Lao PDR, Myanmar, and Cambodia. The total population of ASEAN countries is 700 million with an area of 4.5 million square kilometers. Its headquarters is in Jakarta. Its objectives are promoting political, economic, and social cooperation and regional stability.

The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN: Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam joined ASEAN on 7 January 1984, followed by Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN.

ASEAN engages with other supranational entities in the  Asia Pacific region and other parts of the world. It is a major partner of the UN, SCO, PA, GCC, MERCUSOR, Celac, and ECO.  It also hosts diplomatic missions throughout the world, maintaining a global network of relationships that is widely regarded as the central forum for cooperation in the region. Its success has become the driving force of some of the largest trade blocs in history, including APEC and RCEP.

ASEAN is headed by a Chair, a position that rotates annually among leaders of the member states and is assisted by a secretariat based in Jakarta. Important decisions are taken through consultations and consensus guided by the principles of non-interference in internal affairs and peaceful resolution of conflicts.

ASEAN has made some progress towards economic integration and free trade. In 1992, members created the ASEAN FREE TRADE AREA (AFTA) with the goals of creating a single market, increasing intra-ASEAN trade and investments, and attracting foreign investment. Today, Intra- ASEAN tariffs are effectively Zero. The bloc has prioritized eleven sectors for integration, including electronics, automotive, rubber-based products, textiles and apparel, agro-based products, and tourism.

In November 2020, all ASEAN members joined Australia, China, Japan, New Zealand, and South Korea in signing the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement in the works since 2012. Although the RCEP doesn’t cut tariffs drastically, it covers more of the world’s population—30 percent—than any other trade agreement and promotes economic integration between Northeast and Southeast Asia. ASEAN is also party to Six Free Trade Agreements with countries outside of the grouping, including India.

China is the leading trade partner of ASEAN, as well as through its sweeping BELT AND ROAD INITIATIVE (BRI). Its dominant trade relationship with most Southeast Asian states, its massive investment in Southeast Asian states, and its massive investment in Southeast Asia give it enormous leverage in the region. For instance, China invested US$ 7.3 billion in Indonesia’s first high-speed railway, which began construction in 2015.

Malaysia is a very important Muslim country and its progress, prosperity, and advancement in science, technology, and education is a good omen for the whole Muslim Ummah.