Malaysia needs to promote key sectors, connectivity during ASEAN chairmanship: scholar

As Malaysia prepares to assume the chairmanship of ASEAN next year, it must now lay out its groundwork that could benefit the country for the next 20 years, leveraging key sectors including the semiconductor, electric vehicles and digitalisation, said a scholar.

This is pivotal as it can ensure that the country’s interests are not just protected but promoted, said Director of Institute of Malaysia and International Studies, National University of Malaysia Professor Dr Sufian Jusoh.

Speaking at a forum on the Future of ASEAN under Malaysia’s Chairmanship on Thursday, the scholar said that Malaysia has established its biggest achievement when it became one of the founding members of ASEAN in 1967.

It now can be proud of itself as it managed to be champion in certain sectors such as banking and halal economy, he said.

On connectivity, Sufian praised the Keretapi Tanah Melayu Bhd (KTMB) for connecting Malaysia, Thailand, Laos and China, stating the service will connect new trade routes and multiple inland ports across the region, including the Kontena Nasional Inland Clearance Depot (KNICD) in Selangor, Perlis Inland Port, Thailand’s Latkrabang Inland Port and the Thanaleng Dry Port in Laos, all of which are pivotal trade hubs.

The service provided by KTMB can reduce the transit time of goods between the nations, with the transit time from KNICD to Chongqing, China, expected to take only nine days compared with 14 to 21 days by sea.

According to Sufian,Malaysia’s trade with ASEAN rose by 34% to RM772 billion in 2022 from the previous year.