ASEAN Must Enforce Trade Rules, Strengthen Capital Markets To Remain Competitive – Nazir Razak

KUALA LUMPUR, Sept 24 (Bernama) — ASEAN must push structural reforms to strengthen private capital markets and enforce rules against non-tariff barriers (NTBs) if it is to remain competitive, said ASEAN-Business Advisory Council (ASEAN-BAC) chairman Tan Sri Nazir Razak.

He said existing mechanisms, such as the ASEAN Assist portal, had not been effective in addressing persons engaging in unfair trade practices or imposing barriers to trade, as businesses remain cautious about raising complaints for fear of victimisation.

“There’s no shortcut. It has to be enforcement, but the problem now is that ASEAN has no teeth,” he told Bernama on the sidelines of the ASEAN Economic Ministers’ Meeting 2025.

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