ASEAN's Role As A Middle Power: Tengku Zafrul Advocates Centrality Amid Geopolitical Shifts

KUALA LUMPUR, Dec 9 (Bernama) -- ASEAN countries must play the role of middle powers to seize investment opportunities amid geopolitical shifts, said Malaysian Minister of Investment, Trade, and Industry, Tengku Zafrul Tengku Abdul Aziz. 

He emphasised the importance of maintaining ASEAN centrality to address industry concerns and position the region as a neutral yet influential global player.

"I think it's important to focus on the concept of ASEAN centrality, where we, as ASEAN member countries, must always look at how we can play a role as the middle power to balance some industry concerns," he said to the media at the ASEAN-Malaysia Business Forum 2024, here Monday.

Tengku Zafrul noted ASEAN’s longstanding success in remaining non-aligned while fostering a conducive and safe environment for investments.

He added that as companies reevaluate their supply chains globally due to geopolitical shifts, ASEAN should capitalise on this momentum to attract investments.

He also highlighted the region's resilience in attracting foreign direct investments (FDI), which have seen positive growth over the past three years, despite global FDI declining during the same period.

On concerns over the impact of United States (US) tariffs on ASEAN exports, including those from Malaysia, Tengku Zafrul acknowledged the need for engagement and strategy.

He opined that the US may have its views about how such tariffs can help its industries, such as putting a stop to unfair competition.

As such, he emphasised the need to engage with the US or other countries that impose a tariff to explain why such a move may be unfair.

"If it is fair, we need to then look at how we can ensure that our industries remain competitive," he added. 

--BERNAMA