KUALA LUMPUR (BERNAMA) – ASEAN has completed 11 out of 16 Priority Economic Deliverables (PEDs) under Indonesia’s chairmanship, while five out of seven PEDs under the purview of ASEAN Economic Ministers have been completed, according to the Malaysian Ministry of Investment, Trade and Industry (MITI).
Minister Tengku Datuk Seri Zafrul Aziz said the completed PEDs include ASEAN’s Digital Economy Framework Agreement (DEFA).
The DEFA provides a comprehensive roadmap to empower businesses digitally by enhancing interoperability and cybersecurity to promote trade and the participation of micro, small and medium enterprises (MSMEs).
“In ensuring inclusivity, MITI has always been vocal on the interests of businesses, especially the MSMEs in ASEAN and Malaysia.
“Businesses can also benefit from the ASEAN Framework for Industrial Project-Based Initiatives, which supports the recovery of industrial and commercial sectors by promoting the growth of new production networks and resilient supply chains to enhance intra-ASEAN trade and investment,” he said.
ASEAN’s key priorities include adopting digital economy, pursuing carbon neutrality, prioritising sustainable development agenda, and enhancing supply chain resilience – measures which are key in achieving sustainable economic development for the region.
“Malaysia is confident that these PEDs will propel ASEAN towards becoming a closely integrated, unified, competitive and vibrant economic zone, while fostering digital adaptability and sustainability, ultimately benefiting the well-being and prosperity of its businesses and citizens,” said MITI.
According to Tengku Datuk Seri Zafrul, exporters will also stand to benefit from the Second Protocol to Amend the ASEAN- Australia-New Zealand Free Trade Agreement (AANZFTA) – a prominent free trade agreement encompassing more than 650 million people, with a combined gross domestic product exceeding USD4.5 trillion.
“The Second Protocol to Amend the AANZFTA introduces three new chapters, addressing government procurement, MSMEs, as well as trade and sustainable development,” he said.
He added that Malaysia is looking forward to working closely with all ASEAN member states and partners in ensuring a more prosperous, green and equitable future.
