VIENTIANE, Oct 8 – ASEAN must maintain its neutrality in the face of global geopolitical tensions to stimulate foreign investments in the region, said Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He emphasised that the bloc’s inclusivity and openness should serve as key selling points to attract investments, while also stressing the importance of sustainability.
“We trade and maintain friendships with all European countries, the West, and BRICS nations such as China and Russia.
“At the same time, the global economy is facing challenges, with global gross domestic product growth appearing to be slower than expected,” he said during a meeting with the Malaysian media.
Tengku Zafrul and his delegation arrived in Laos on Oct 6 to attend the 44th and 45th ASEAN Summits, as well as related meetings, which run from today until Oct 11.
He also participated in the 24th ASEAN Economic Community (AEC) Council Meeting yesterday.
Despite global economic and geopolitical uncertainties, Tengku Zafrul noted that ASEAN continues to attract significant investments, even as global foreign direct investments decline.
“We are bucking the trend, which is a positive sign. However, another issue is the possibility of tariffs being imposed to protect certain markets.
“This is why ASEAN must continue dialogues with other blocs, particularly through multilateral platforms like the World Trade Organisation,” he added.
