Latest news with #ASEAN
Time of India
10 hours ago
- Business
- Time of India
India to focus on robust pacts with developed nations: Piyush Goyal
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India 's focus is on entering into robust trade agreements with the developed world, commerce and industry minister Piyush Goyal said on Thursday."Our focus is on entering into robust trade agreements with the developed world," Goyal said at an event in has announced its free trade agreement (FTA) with the UK and concluded deals with Australia, the UAE and European Free Trade Association. It is also in talks with the US and European Union."There was a time 15 years ago when we were more focused on doing trade agreements with countries who were really our competitors. Why do an ASEAN agreement... which was done 15 years ago before we came into government... it really is silly because I am opening up my market to my competitors, many of whom have now become the B team of China. So, effectively and indirectly, I have opened up my market for goods that find their way from China into India," Goyal ASEAN-India Trade in Goods Agreement (AITIGA), which came into effect in 2010, is currently under review. India has been demanding a review of the pact to eliminate barriers and its or the Association of Southeast Asian Nations, comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and this government is focusing on having robust agreements, as it did with Australia and is now set to negotiate with New Zealand in another three-four months, Goyal said."What we did with the UAE and are now close to closing second in the Gulf... and possibly start with other countries of the Gulf region. The rich countries... countries against whom we do not compete but complement," he said. Trade negotiations are going on with Chile and Peru as well.
The Hindu
11 hours ago
- Business
- The Hindu
India seeking trade deals with rich, democratic countries: Goyal
Commerce and Industry Minister Piyush Goyal said the government was interested in doing trade deals with rich countries and democratic allies, as he distanced himself from previous governments' efforts to explore deals with countries he considered competitors. Mr. Goyal's comments were made at the India Global Forum 2025 conference, during a conversation with Ian Blatchford at London's Science Museum. The government was focused on 'entering into robust trade agreements with the developed world', he said, contrasting it to the practice '15 years ago, when we were more focused on doing trade agreements with countries who are our competitors'. Mr. Goyal referred to trade deals with ASEAN (Association of South East Asian Nations) countries, presumably meaning The Regional Comprehensive Economic Partnership (RCEP) negotiations. These talks had commenced in 2012 and India had begun exploring participation in this agreement a few years earlier under the Congress-led UPA government. He described this as 'silly' because the countries in the region have now become the 'B Team of China'. Citing trade deals or negotiations with countries such as the U.K., Australia, Peru, the United Arab Emirates (UAE), and the European Free Trade Association countries, he said India's products complemented and did not compete with these countries' products. 'We don't hurt their economies,' he said suggesting that a pair of jeans could be made most cost-effectively in India while medical devices (for instance) could be made most efficiently in economically developed countries. These arrangements would help India grow its innovation ecosystem, Mr. Goyal said, as he pushed for co-development. 'Let's work together as friends and allies of the democratic world,' he added. Goyal sees goal for India in NHS Asked by Mr. Blatchford if India could 'save the NHS (National Health Service)', Mr. Goyal said the topic had become 'too much of a political hot potato' in the U.K. Yet he appeared to make a pitch for India being a destination for medical treatments if the problems the NHS faces (such as a lack of funding, shortage of staff and long wait times for treatment) were to become less of a political issue. Mr. Goyal suggested that patients could fly to India for treatment and that this could be done in a way — in the right political environment — without negatively impacting British jobs but 'supplementing and complementing the effort so that the citizens of United Kingdom and the residents of the U.K. live a healthier and happier life'.
Barnama
12 hours ago
- Business
- Barnama
Malaysia Has Proposed To Set Up ASEAN Institute
Education Minister Fadhlina Sidek (right) and Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir pose for a photo before attending the ASEAN Education Ministers' Roundtable (#EduRoundtables2025) and related events held here today. -- fotoBERNAMA (2025) COPYRIGHT RESERVED LANGKAWI, June 19 (Bernama) -- Malaysia has proposed the establishment of an ASEAN Institute to consolidate expertise across various fields among member countries in the region. Higher Education Minister Datuk Seri Dr. Zambry Abdul Kadir stated that this proposal was among the topics discussed during the ASEAN Higher Education Ministers' Roundtable here today. "Although certain countries have conducted studies at their respective university levels, there isn't a more comprehensive institute for all ASEAN member states," he said at a press conference after the roundtable here today. He added that Malaysia has offered to host this ASEAN Institute, given the country's expertise, including through the Institute of Malaysian and International Studies (IKMAS) at Universiti Kebangsaan Malaysia. Furthermore, he noted that the roundtable also discussed student and academic mobility within the region, including exchange programs that would allow foreign lecturers to teach at educational institutions in Malaysia. "Additionally, we also agreed to establish a body to manage scholarship matters, namely ASEAN-GEMS. This platform will be utilized to seek financial resources among ASEAN member states to provide scholarships," he said. The ASEAN Global Exchange for Mobility and Scholarship (AEAN GEMS) is a one-stop platform for information about regional scholarship and mobility programs throughout the ASEAN region that was launched tonight. This initiative will, among other things, provide access to opportunities and scholarship offers for all ASEAN students, while also supporting regional integration by encouraging youth mobility and cross-border academic exchanges. Zambry further mentioned that other matters discussed included proposals to establish networks and collaborative platforms among ASEAN higher education institutions, and to ensure that all discussion outcomes are elevated to the ASEAN Heads of State Meeting in October.
Malaysia Sun
13 hours ago
- Business
- Malaysia Sun
International trade must be transparent, predictable
KUALA LUMPUR, June 19 (Xinhua) -- International trade must be governed by transparent rules and legal predictability, not by unilateralism or coercive economic measures, Malaysian Prime Minister Anwar Ibrahim said here on Thursday. In his keynote speech at the 38th Asia-Pacific Roundtable (APR) held in Kuala Lumpur, Anwar said that strengthening multilateralism through ASEAN and engaging with a diverse range of partners, such as China, the Gulf Cooperation Council (GCC) and BRICS, will help countries seeking constructive cooperation to weather the storm of geopolitical tensions. "The imposition of unilateral tariffs by the U.S. is a significant challenge to our nation and the region as we are deeply plugged into global supply chains. International trade must be governed by transparent rules and legal predictability, not by unilateralism or coercive economic measures," he said. "Malaysia's strategy of active non-alignment is a deliberate and principled framework, designed to maximize strategic flexibility, preserve decision-making autonomy, and engage all partners on our own terms... Malaysia has reached out to like-minded partners in the Global South to bridge regions, build collective resolve and promote shared prosperity," he added. Anwar also stressed the importance of avoiding bloc confrontation, emphasizing that dialogue and engagement are the only ways to ensure continued economic growth and stable relations between nations. "The future of this region lies not in hardened blocs or fragile balances, but in a security architecture that is inclusive, predictable, and anchored in rules, one in which active non-alignment is not merely tolerated but enabled to thrive," he said. The APR, which runs from June 17 to June 19, is the signature international conference of the Institute of Strategic and International Studies Malaysia.
Malay Mail
14 hours ago
- Business
- Malay Mail
Chairman Xu Guanju Speaks at the 2025 Energy Asia Conference in Kuala Lumpur
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 19 June 2025 - On 16 June 2025, Chairman Xu Guanju of Transfar Group was invited to speak at the 2025 Energy Asia by PETRONAS, the Energy Asia Conference was held at the Kuala Lumpur Convention Centre from 16 to 18 June. Focusing on the theme 'Delivering Asia's Energy Transition', the conference brought together policymakers, industry leaders, and energy professionals from over 60 countries, calling for bold solutions and collaboration to accelerate Asia's progress towards a net-zero conference was officiated by the Honourable Dato' Seri Anwar Ibrahim, Prime Minister of Xu Guanju delivered his speech at the forum session titled 'China's Pathway in Delivering Asia and the World's Energy Transition'. He emphasized that the basis of social progress and economic prosperity is founded upon the effective use of energy. The tides of energy and technological revolution present not only challenges, but valuable opportunities. Asia's diverse resources offer unique advantages for development. Transforming precious resources into high-value products that serve the advancement of society and human welfare not only presents a more sustainable path for development, but is also a pivotal direction for transforming one of humanity's scarcest resources: is a leading private enterprise in China, specialising in the production of downstream chemicals in the petroleum industry. Founded in 1986 following China's Reform and Opening-up, the company will celebrate 40 years of commitment to the production and development of functional chemicals and new materials. Using fossil fuels such as petroleum, silicon, and phosphorus, it produces hundreds of product lines, with nearly 20,000 products. Many are used in relatively smaller volumes, ranging from just tens to hundreds of tons every year, but they are an indispensable part of many supply chains. Transfar strives relentlessly for excellence, designing each product to have functional value and unique plays a crucial role across a wide range of industrial and supply chains. From serving light industries such as textiles, paper, plastics, and building materials, the company has expanded to support emerging sectors including photovoltaics, solar energy, new energy vehicles, high-speed rail and semiconductors. By leveraging technological innovation, Transfar has achieved exponential growth while becoming a key driver for the transition to new Xu affirmed that Chinese companies are unwaveringly dedicated to achieving their dual-carbon goals, honing their core competitive advantage in products, technology, and management through their development journey, with the ultimate goal of contributing to the development of Asia and the world. He shared three key perspectives from Transfar's practices:In the past, China grew rapidly through energy, market size, and cost advantages. Today, in addition to a large-scale market, China boasts a sizeable number of innovative enterprises, Transfar being one of them. Transfar prioritizes technological innovation, continuously tackling new technologies in functional chemicals and new materials to enhance energy and product value, and moving up the supply chain. Recent breakthroughs such as rare earth rubber, electronic chemicals, and organic silicon materials, some of which are fully independent and original innovations, have greatly enhanced the added value of the energy and chemical and low-carbon emissions are a global consensus, a national strategy, and a corporate responsibility. This is especially so in the energy and chemical industries, where a focus on energy structure, low-carbon technology, and industrial innovation, is crucial. Transfar has established integrated solar and storage systems, waste heat power generation, and closed-loop energy systems in creating zero-carbon factories and industrial parks, equipped with full-chain product carbon footprint tracking. Transfar has also pioneered green technologies such as low-temperature bleaching and chlorosilicon recycling, empowering industry-wide carbon emission reduction. At the same time, exploring biomanufacturing transformations has led to significant breakthroughs in new applications such as bio-based additives, biopesticides, and enzyme future is not a zero sum game. Sustainable development requires an open mind and cooperation, including regional strategic coordination and strong alliances between upstream and downstream enterprises. Transfar's products and services reach more than 100 countries and regions, and we have comprehensively reshaped our global innovation model, working closely with strategic partners, combining China's refined product technology capabilities with our partners to build global competitiveness. Transfar is actively promoting strategic cooperation with PETRONAS in areas such as rubber materials, organic silicon materials, developing the chemicals and materials industries with the common pursuit of zero-carbon goals and Xu Guanju also participated in the Energy Asia Global Leadership Executive Forum, gathering global CEOs and executives from the oil and gas, energy and related sectors for closed-door discussions on building a more resilient and sustainable energy #TransfarGroup The issuer is solely responsible for the content of this announcement.
