KUALA LUMPUR, April 11 — The new wave of trade war triggered by United States (US) President Donald Trump’s policies has provided impetus to strengthen bilateral cooperation between Asean and China, said Malaysia China Business Council chairman Tan Sri Low Kian Chuan.
Policymakers on both sides can collaborate and strengthen crisis-response capabilities through engagements, fostering communication and information sharing between different agencies and stakeholders in Asean and China.
“With the risk of a full-blown trade war looming and causing ripple effects across the global economy, it is very important for like-minded countries in Asean and China to continue strengthening the international rules-based trading order, and to resist the rising tide of protectionism by strengthening regional collaboration and integration,” he said at the Asean-China Media and Think Tank Forum today.
Low added that Malaysia, as the Asean chair, will engage in discussions with several member states to reach a collective agreement regarding the US reciprocal tariffs issue to ensure that the principle of fairness is upheld in international trade.
He also highlighted that the signing of the Asean-China Free Trade Area (ACFTA) 3.0 scheduled for this year will be a key priority for deepening regional economic integration.
“Both sides must continue to emphasise that the relations between Asean and China would go to another level of holistic cooperation in almost all fields,” Low said.
China and Asean should strengthen their hotline and strategic communication, policy coordination and facilitation, and discussions on how to support each other and jointly cope with tariff impacts.
“In this regard, both China and Asean can adopt some form of tacit understanding, reach consensus, review regional cooperation strategies, strengthen the cooperation framework of China-Asean comprehensive strategic partnership, and promote China-Asean community with a shared future,” he said.
Meanwhile, during a panel session titled 'Building Asean-China Super-sized Markets Together' at the same event, Bioeconomy Corp chairman Lee Boon Chye said Asean and China need to strengthen their economic integration by expanding zero-tariff arrangements, particularly in light of the anticipated 'Trump 2.0' trade policies.
Around 60 per cent of Asean-China trade is already being conducted with zero tariffs, a result of progressive liberalisation under existing regional trade agreements.
"I think with the problem of the tariff war initiated by Trump 2.0, it is more important for Asean and China to stay together," he said.
Lee also opined that the Global South provides promising growth potential for businesses in the future.
"There is business potential in the global south. And there are ways where we can cooperate even further to build a more prosperous future for both parties," he said.
The forum was opened by Deputy Prime Minister Datuk Seri Fadillah Yusof earlier today, with Communications Minister Datuk Fahmi Fadzil and Xinhua News Agency Chief Editor Lyu Yansong among those present.
Also in attendance were Deputy Communications Minister Teo Nie Ching, Secretary-General of the Communications Ministry Datuk Mohamad Fauzi Md Isa, the Malaysian National News Agency's (Bernama) Chairman Datuk Seri Wong Chun Wai, Bernama Chief Executive Officer Datin Paduka Nur-ul Afida Kamaludin, and Bernama Editor-in-Chief Arul Rajoo Durar Raj.
Jointly organised by Bernama and Xinhua under the theme 'Strengthening Asean-China Cooperation', the one-day event drew over 200 participants, including influential media leaders, representatives, senior government officials and experts from across the Asean region and China, to deepen engagement and collaboration in the ever-evolving media landscape.
— Bernama
