31st ASEAN Economic Ministers (AEM) Retreat

At the 31st ASEAN Economic Ministers (AEM) Retreat earlier today led by Malaysia’s Minister of Investment Trade and Industry (MITI) Yang Berhormat Datuk Seri Utama Tengku Zafrul, Chairman Tan Sri Nazir Razak unveiled a forward-looking agenda by outlining this year’s programmes and 12 priorities for ASEAN-BAC Malaysia Chairmanship 2025. Under the theme “Unifying Markets for Shared Prosperity,” he emphasised that with robust support from the AEM and ASEAN Leaders, the proposed initiatives can materially advance regional integration, yielding significant benefits for economies, businesses, and people.

A key initiative was the ASEAN Business Entity (ABE) proposal, designed to boost the movement of ASEAN talent, capital, data, and operations. This initiative could increase foreign direct investments as well as intra-ASEAN trade and investments. In closing, his rallying cry—“Execution, execution, execution”—resonated powerfully with delegates, emphasizing the critical need for decisive, coordinated action to integrate markets and achieve shared prosperity across the region.

Following Tan Sri Nazir representing ASEAN-BAC were the previous Chairman of ASEAN-BAC 2024 Oudet Souvannavong, Acting Chairman of ASEAN-BAC Indonesia Bernardino Vega, ASEAN-BAC Malaysia’s Executive Director Jukhee Hong, ASEAN-BAC’s Executive Director Rifki Meno, and Chair of Kadin Malaysia Committee Christian Wanandi.