PRIME MINISTER Datuk Seri Anwar Ibrahim has stressed that Malaysia must first ensure internal stability, good governance, and sound economic management if it is to play a credible and influential role within ASEAN and on the global stage.
Addressing civil servants at the Finance Ministry’s monthly assembly in Putrajaya, Anwar said Malaysia’s aspirations to support international causes – such as aiding crisis-stricken regions like Myanmar and Gaza – would be futile without a firm domestic foundation.
“If our country is unstable, poorly governed and focused only on personal or family wealth, then any noble intention to help countries like Myanmar or Gaza will be meaningless,” he said.
Anwar, who is also Finance Minister, emphasised that integrity, transparency, and effective leadership must guide national policy, noting that a strong and well-managed Malaysia is key to reinforcing the country’s regional influence.
In particular, he praised the Ministry of Finance for successfully hosting the 12th ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM), which concluded recently in Kuala Lumpur.
“To Finance Minister II Datuk Seri Amir Hamzah, Treasury secretary-general Datuk Johan Mahmood Merican, the deputies and all involved – congratulations,” Anwar said. “The quality of discussions and the focus on major issues made the meeting a proud achievement for Malaysia as this year’s ASEAN Chair.”
Held from 7 to 10 April at the Kuala Lumpur Convention Centre, the meeting brought together some 300 delegates, including ASEAN finance ministers, central bank governors, representatives from international financial institutions, and private sector stakeholders. Discussions centred on advancing financial integration and regional cooperation.
Looking ahead, the Prime Minister urged ASEAN member states to prioritise internal cooperation over external entanglements, warning against becoming too absorbed by international conflicts that lie beyond the region’s control.
He advocated for practical steps to deepen regional economic ties, such as the broader use of local currencies in intra-ASEAN trade – an initiative gaining traction among member countries.
“We’ve started with about 20 per cent of trade transactions between Malaysia, Indonesia and Thailand now conducted in local currencies,” Anwar revealed. “These are early successes, but there remains vast potential to grow trade among ASEAN countries.”
He highlighted the Chiang Mai Initiative (CMI) as an example of regional resilience and collaboration. Originally established in response to the 1997 Asian Financial Crisis, the CMI is a multilateral currency swap arrangement involving all 10 ASEAN nations alongside China, Japan and South Korea.
Reflecting on ASEAN’s founding vision, Anwar paid tribute to Malaysia’s second prime minister, the late Tun Abdul Razak, who championed the idea of Southeast Asia as a peaceful and neutral region during the Cold War era.
“Today, we call it the principle of centrality – maintaining good relations with all parties without sacrificing the interests of our nation and the region,” he said.
Anwar’s remarks come at a time when Malaysia, as ASEAN Chair, is seeking to assert a more active and principled leadership role within the 10-member bloc amid growing geopolitical tensions. – April 14, 2024
