Distinguished Members of the Meeting,
First and foremost, I would like to extend a very warm welcome to all of you to Kuala Lumpur, Malaysia, for the 5th ASEAN Geoeconomics Task Force (AGTF) Meeting. A special thank you to Vice Minister Ms. Dyah Roro from Indonesia for joining us in person today. I would also like to acknowledge that this session is being held in a hybrid format, allowing some members of the AGTF to participate virtually. Your engagement, whether in person or online, is highly valued, and I look forward to a productive and fruitful discussion.
While the task to Co-Chair the AGTF meeting was entrusted by the AEM to Malaysia, led by YB Mr. Liew Chin Tong, Deputy Minister of the Ministry of Investment, Trade, and Industry of Malaysia, and Indonesia, represented by Mr. Djatmiko Bris Witjaksono, Director General of International Trade Negotiations, Ministry of Trade of Indonesia, at the request of YB Liew, I have agreed to chair this meeting mainly to provide guidance and share my view on the recommendations put forward by the AGTF, prior presenting it to the 57th AEM meeting for deliberation tomorrow.
Esteemed members of the meeting,
The idea of establishing the ASEAN Geoeconomics Task Force or AGTF was first floated during the 31st AEM Retreat in February this year, with the aim of creating an ad-hoc dedicated Track 1.5 platform under the purview of the HLTF, mainly to develop strategic solutions in response to the various unilateral tariffs imposed by the United States early this year.
However, during the Special AEM Meeting convened on 10 April 2025, as a response to the reciprocal tariffs imposed by the Trump administration on 2 April 2025, the AEM collectively agreed that the AGTF's role should transcend ASEAN–US issues, broadening its focus to address a wider array of geopolitical and geoeconomics priorities.
This is because the AEM recognises that the nexus between economic growth and progress is deeply intertwined with the political landscape. Policy decisions, governance frameworks, and regional cooperation collectively shape trade, investment, and the overall economic ecosystem, underscoring the imperative for coordinated, proactive, and forward-looking strategies across ASEAN. Thus, by integrating both economic and political considerations, ASEAN would be able to formulate strategies that drive sustainable growth, strengthen resilience, and secure long-term prosperity for all Member States.
This is precisely why the findings and recommendations of the AGTF will also be presented and deliberated collectively during the proposed joint session of ASEAN Foreign Ministers (AMM) and ASEAN Economic Ministers (AEM), scheduled to take place prior to the 47th ASEAN Summit this October. This approach ensures a balanced perspective, fosters mutual understanding, and guides policies that reinforce ASEAN’s economic resilience and political coherence.
Esteemed members of the meeting,
Despite being newly formed and having held only five meetings (including today’s meeting) — mostly online—the AGTF team, comprising policymakers, leading regional think tanks such as BCG, AMRO, CSIS, and ERIA, business organisations from ASEAN and Dialogue Partners, and the ASEAN Secretariat, has worked diligently over the past five months to consolidate its findings and develop actionable recommendations. The stakes and expectations are high, and I sincerely hope these recommendations address both political and economic security, laying the groundwork for inclusive, forward-looking strategies.
I understand that the full report is yet to be completed for the 57th AEM’s endorsement and I was informed that it is nearing completion, and for today’s meeting we have the executive summary to provide essential first-hand insights for members deliberations and the slide presentation which I was informed was circulated this morning. Nevertheless, I am hopeful that it will facilitate valuable contributions from ASEAN Member States as we strive to finalise the ASEAN Geoeconomics Report. Thank you.
--BERNAMA