KUALA LUMPUR: ASEAN should position itself not merely as a production hub but as a vibrant consumer market driven by the growth of a strong middle class across its economies.
Deputy Investment, Trade and Industry Minister Liew Chin Tong said ASEAN must remind East Asian giants that a strong regional middle class benefits everyone.
He emphasised the importance of technological transfers and sharing with ASEAN for mutual benefit during his special address at the East Asia Business Forum.
Liew noted that ASEAN now has various ASEAN+3 institutions and mechanisms alongside the Regional Comprehensive Economic Partnership.
He stated that Asia has become the technological powerhouse of the world and requires new approaches to collaboration.
Speaking as a member of the ASEAN Geoeconomics Task Force, Liew said the region must help shape Asia’s future.
The East Asia Business Council was inaugurated in 2004 and endorsed by ASEAN+3 members China, Japan, and South Korea.
The council has been recognised for bringing private sector voices into regional policy discussions. – Bernama