VIENTIANE, Oct 9 — Malaysia has outlined three strategies for Asean when it takes over the grouping’s chairmanship in 2025, including bolstering regional value chains and regulatory cooperation.

Addressing the 44th Asean Summit Plenary Session today, Prime Minister Datuk Seri Anwar Ibrahim, said this is crucial to expand trade and investment linkages as well as to foster digital transformation in the region.

The other two strategies are strengthening member countries’ fundamentals and reinventing, restructuring and recalibrating their economies while leveraging each other’s strengths.

"(Asean) needs to redraw and secure the regional supply chain and its linkages to the global economy.

"I believe that if we pursue this course with determination and commitment, Asean can achieve economic resilience and be on track to become the fourth largest economy by 2030,” said Anwar.

As incoming Asean Chair, Anwar was the second leader to speak after Lao Prime Minister Sonexay Siphandone at the plenary session.

All the leaders from Asean’s 10 member countries attended the plenary session, held at the National Convention Center (NCC), here.

Anwar said that intra-Asean trade has remained low for the past few decades despite the phenomenal economic growth experienced in South-east Asia.

"I believe there is vast potential for enhancement in this regard, particularly so with the upgrading of the Asean Trade in Goods Agreement (ATIGA) to be signed in 2025,” he said.

Apart from that, he said it is imperative for Asean to explore and broaden the grouping’s economic partnerships beyond the regions’ borders.

"Malaysia’s proposal for the AseanGCC + China Summit in 2025 is aimed at achieving exactly this. I would like to thank Asean member states for your support of this proposal,” the prime minister said.

Commenting on Timor-Leste’s impending inclusion into the grouping, Anwar said that the move will expand the region’s economy and contribute to making Asean a more economically resilient bloc, putting it on track to become the world’s fourth-largest economy by 2030.

"Malaysia looks forward to the recommendations from our senior officials on measures to facilitate Timor-Leste’s early full membership into Asean,” he said.

Timor-Leste was granted official observer status and received in-principle approval to become a member of the Asean during the 40th and 41st Asean Summits in Cambodia in 2022.

The 44th and 45th Asean Summits and Related Summits officially opened in the Lao capital on Wednesday and will end on Friday.

Anwar, who arrived here on Tuesday night, will also attend the Plus One Summits between Asean and seven dialogue partners, namely Australia, China, Japan, India, South Korea, United States and Canada, as well as the Asean Plus Three Summit, East Asia Summit and Asean-United Nations Summit.

Other Asean leaders and dialogue partners, including Chinese Premier Li Qiang and United States Secretary of State, Antony Blinken, are also expected to attend the summits.

The summits will conclude on October 11, with Laos handing over the Asean Chairmanship to Malaysia during the closing ceremony.

According to Wisma Putra, Anwar is scheduled to deliver a speech outlining Malaysia’s vision as Asean Chair during the ceremony, adding that Malaysia will officially assume the Asean chair on January 1, 2025. — Bernama