Why is ASEAN planning a rare joint meeting of foreign and economic ministers?
“The upcoming meeting was revealed last Friday (Jul 11) by Malaysian Foreign Minister Mohamad Hasan after a gathering with his counterparts from the Association of Southeast Asian Nations (ASEAN), saying it would be aimed at developing a ‘more coordinated regional response to economic headwinds and rising trade tensions’.”
“Analysts described the revived meeting as a move towards ‘strategic pragmatism,’ reflecting ASEAN’s heightened awareness that economic decisions can no longer be divorced from political realities and that they can no longer work in silos.”
“Malaysia, who is this year’s ASEAN chair, faces a 25 per cent tariff from Aug 1, with Laos and Myanmar facing 40 per cent, Cambodia and Thailand 36 per cent, Indonesia 19 per cent, Vietnam 20 per cent (and 40 per cent on trans-shipments), and the Philippines and Brunei 20 per cent and 25 per cent respectively.”