KUALA LUMPUR, Sept 6 — Asean is on the right track in terms of trade, growth, and investment, with intra-bloc diversity underpinning resilience, said Prof Peter Mayer.
The International Economics at University Polytech Malaysia and Osnabrück University of Applied Sciences adjunct professor said that Asean's diversity in labour, land, and capital endowment supports a productive division of work across the region.
“Diversity is a source of wealth. Take Malaysia as an example, the country’s export structure is well diversified by markets and products, helping to buffer disruptions from pandemics, politics, or supply-chain delays.
“Singapore, the Philippines, Indonesia, and Thailand have also managed diversification well,” he said on Bernama TV’s 'The Nation' programme yesterday.
Mayer added that Asean's move to strengthen its digital economy framework is timely, and emphasised that the region must regulate three key pillars of digital trade.
“The first pillar is digitally ordered goods, such as online purchases from platforms like Shein and Temu, which in some markets enter duty-free due to tariff loopholes. This kind of trade needs proper regulation.
“The second pillar is digitally delivered services, such as Netflix streaming. These pay-to-access services need clear rules on what type of content and services are allowed,” he said.
The third pillar is digital intermediation platforms, including Booking.com for hotel bookings and global marketplaces like Amazon.
“Given their increasing influence, these platforms need to be guided by clear regulatory frameworks,” said Mayer.
