Business council chief flags urgent need for S-E Asia to deepen integration amid rising protectionism

^{Nazir Razak, who chairs the Malaysian chapter of the Asean Business Advisory Council, says: “When others are building high walls, Asean should widen its negotiation table. If we cannot turbocharge integration now, we risk missing a major opportunity.” PHOTO: NAZIR RAZAK}

Nazir Razak of the Asean Business Advisory Council Malaysia lauds the Johor-Singapore Special Economic Zone as a model for this cooperation

By Tan Ai Leng

[KUALA LUMPUR] The chairman of the Asean Business Advisory Council (Asean-BAC) Malaysia has called on South-east Asia to overcome the region’s fragmented regulations and deepen regional integration to unlock the full potential of its market of nearly 700 million people.

Nazir Razak warned that delaying this push risks the region being left behind amid rising global protectionism.

Despite having made progress in reducing tariffs, he said that South-east Asia still faces significant non-tariff barriers and an uneven enforcement of trade rules, which have hindered efforts to build a seamless regional market.

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