LABUAN BAJO – Malaysian Prime Minister Datuk Seri Anwar Ibrahim today reiterated his call for the establishment of an Asian Monetary Fund in line with Asean’s initiative to enhance the region’s economic independence and safety net.
He said such a regional mechanism would be able to better understand the realities and needs of Asean countries and thus propose more suitable remedial measures.
In his intervention at the Asean Summit opening and plenary session, Anwar welcomed an Asean leaders’ declaration on boosting regional payment connectivity and promoting the use of local currencies.
The initiative, he said, would enhance the use of local currencies to support cross-border trade and investment in Asean.
On the Asean Community’s Post-2025 Vision, the prime minister said the bloc must be able to demonstrate greater confidence and readiness to seize opportunities aimed at bringing favourable changes to its people and the region.
The region will adopt the Post-2025 Vision in the next two years to chart Asean’s strategic path for the next two decades.
“The Post-2025 Vision as discussed by the eminent persons group in initial deliberation must put the needs and well-being of our people at the heart of the regional integration agenda and give greater emphasis on inclusivity, sustainability, transformation, and responsiveness; as well as improving Asean’s capacity and institutional effectiveness,” he said.
Anwar said the vision must also strengthen Asean’s geopolitical and geo-economic footprint and assertiveness and shape a fair, just, and ethical international order.
“I think the vision seems to be very consistent with what we call in Malaysia as Malaysia Madani,” Anwar said.
The Malaysian prime minister and other Asean leaders attended the summit to discuss several issues of common interest to the regional grouping.
Eight heads of government from the 10 Asean member states participated in the summit. The exceptions were Myanmar, which was not invited, and Thailand, which faces elections this Sunday.
Also present were Asean Secretary-General Kao Kim Hourn and Timor Leste Prime Minister Taur Matan Ruak. – Bernama, May 10, 2023
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