AEM MEETING IN JULY TO FAST-TRACK ASEAN DEFA
KUALA LUMPUR, June 12 (Bernama) – Malaysia will convene a special ASEAN Economic Ministerial (AEM) meeting in Bangkok at the end of July to accelerate progress on the Digital Economy Framework Agreement (DEFA).
DEFA is a key regional initiative aimed at boosting cross-border digital trade and enabling greater participation of micro, small and medium enterprises in the export market.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the meeting, requested by ASEAN’s DEFA coordinator, Thailand, was crucial to ensuring the pact achieves substantial conclusion this year as outlined under ASEAN’s 2024 Priority Economic Deliverables (PEDs).
“I will be calling for a meeting… it will happen at the end of July in Bangkok. The senior officials have been working very hard, but now it requires intervention at the ministerial level. I am still optimistic,” he told a press conference after the launch of the ASEAN Economic Community Strategic Plan 2026–2030.
He said one of the key objectives of DEFA is to create more opportunities for smaller companies to be involved in the export sector.
“If we look at the 18 PEDs that we have announced, one of the focuses is to increase trade between ASEAN countries, and an example is through the use of the DEFA,” he said.
Tengku Zafrul also highlighted that the agreement could increase access to new markets through digital or e-commerce platforms.
He added that ASEAN has completed negotiations on the ASEAN Trade in Goods Agreement, which is scheduled to be signed during the ASEAN Leaders’ Meeting in October.
“We have also discussed increasing integration in the ASEAN Power Grid. These are things that we are doing that we hope will reduce trade barriers, both tariff and non-tariff barriers,” he said.
Recognising the developmental gaps between ASEAN member states, Tengku Zafrul said these regional efforts are being pursued in phases to ensure fairness and inclusivity.
“We see a lot of differences between ASEAN countries in terms of gross domestic product (GDP) and GDP per capita. This is why it is important for us to be open in these negotiations.
“We need to take into account the fact that some countries may not be ready to be as liberal in their policies, we need to protect the domestic sensitivities too.
“So, this is where ASEAN centrality and ASEAN neutrality mean a lot. We are doing it in stages. We give different countries different timelines for transition, and their commitment is also different,” he added.
-- BERNAMA
