By Danial Dzulkifly
KUALA LUMPUR, July 10 — Foreign Minister Datuk Seri Mohamad Hasan has warned that the Asean region faces a “perfect storm” of crises and urged the bloc and its neighbours to remain united.
Speaking at the 26th Asean Plus Three Foreign Ministers’ Meeting today, he said that intensifying rivalry among the great power, economic fragmentation, and technological disruptions threaten regional stability.
“Unilateralism and nationalism are on the rise, marginalising multilateralism that is essential for a stable world order,” Mohamad said.
He noted that the grouping, comprising Asean, China, Japan, and South Korea, represents 2.28 billion people and over 25 per cent of the global gross domestic product (GDP), and as such cannot be ignored.
Mohamad then called for stronger cooperation in digital transformation and supply chain connectivity, saying these areas are crucial for growth.
“Digital transformation alone could contribute up to US$2 trillion (RM8.49 trillion) in regional GDP,” he said.
Also in attendance was Japan’s Minister of Foreign Affairs cum the Coordinator of the Plus Three countries, the People’s Republic of China’s Minister of Foreign Affairs Wang Yi, and the Republic of Korea’s First Vice Minister of Foreign Affairs Park Yoon-joo.
Asean Plus Three was established in Kuala Lumpur in 1997 under Malaysia’s chairmanship, in response to the Asian Financial Crisis that year.
In an earlier meeting at the Asean Post-Ministerial Conference with China, Mohamad also touched on the updated tariffs imposed by the United States (US) on countries worldwide, including Malaysia.
A 25 per cent tariff on Malaysian exports will take effect on August 1, following a three-month pause on an earlier 24 per cent rate.
Other countries hit by the US’ revised measures include Japan, South Korea, Tunisia, and Kazakhstan.
Several others, including South Africa, Indonesia and Thailand, face even steeper duties, with rates reaching up to 40 per cent in the case of Laos and Myanmar.
US Secretary of State Marco Rubio arrived in Malaysia today for bilateral meetings with his Asean counterparts. Also in attendance is Russian Foreign Minister Sergey Lavrov.
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