Latest news with #non-Asean
The Star
26-05-2025
- Business
- The Star
Removing barriers will hasten integration, say experts
PETALING JAYA: Asean countries must tackle persistent regulatory and financial barriers that continue to hinder regional economic integration, say experts. Economist Geoffrey Williams said there are still many trade barriers among Asean countries, especially for small and medium enterprises (SMEs). 'Asean needs to establish a framework to identify regulatory barriers across all areas. 'This process should systematically remove or harmonise regulations at the lowest cost,' he said when contacted. Williams said there are still many constraints on simple issues, such as setting up businesses, bank accounts, and even payment transfers. 'Harmonising regulations on payment transfers, reducing transaction costs and building common platforms for e-payments is essential,' he said. Asean countries still vary greatly in economic development, political systems, and economic self-interests. This variance, he said, is holding back closer integration. 'Tourism provides a good model because private-sector-driven business models make travel, accommodation and currency exchange easy. 'So integration is not impossible if it is market-driven, but it is proving difficult if it is government-driven,' he explained. He said Asean can follow a market-driven integration model using technology platforms and e-commerce which avoids brick-and-mortar business models and moves online. 'An Asean-wide digital nomad visa would be a good idea and would be attractive for the region as a whole while reducing competition between countries. 'Another Asean-wide entrepreneur visa would also be helpful in reducing costs, especially for the non-Asean business community. 'This would allow foreign investors to move easily around the 10 member states,' he argued. Centre for Market Education chief executive officer Carmelo Ferlito said going cashless can become a burden if a person needs to have a different app in each country. 'I travel often to Indonesia, and I struggled with their cashless system, which must be linked to a local bank. 'So I think having more integration is good, but in reality, it is better to increase options rather than reducing them,' said the economist. At a special media briefing on May 21, Prime Minister Datuk Seri Anwar Ibrahim outlined a strategic vision for Asean's next phase of growth. Under Malaysia's Asean chairmanship this year, he emphasized stronger economic integration, trade expansion, and cross-border energy connectivity as key pillars.
New Straits Times
24-05-2025
- Politics
- New Straits Times
Timor-Leste, Nuclear Weapon-Free Zone among issues discussed at Asean SOM
KUALA LUMPUR: Efforts to strengthen and revitalise collaboration with non-Asean partners were among the key matters discussed at the Asean Senior Officials' Meeting (SOM), which began today ahead of the 46th Asean Summit. Foreign Ministry secretary-general Datuk Seri Amran Mohamed Zin said this includes discussions on the Asean Nuclear Weapon-Free Zone (ANWFZ) and initiatives under the Asean Regional Forum (ARF). "In addition, we are finalising several key agenda items to be presented for consideration at the ministerial and leaders' levels. "The focus at the senior officials' level also includes planning for the upcoming Asean Summit during Malaysia's chairmanship of Asean in 2025," he said during a doorstep interview following the meeting today. The SOM officially commenced at 8.30am, bringing together Asean SOM Leaders and Timor-Leste's SOM representatives to align positions on key regional issues ahead of the sessions involving Asean Heads of State and Government. Commenting further, Amran said the meeting also deliberated on Timor-Leste, which remains a central issue in Asean's expansion and engagement discussions. "The Foreign Minister (Datuk Seri Mohamad Hasan) will hold a curtain raiser or press briefing tomorrow, during which more detailed information will be shared," he said. Amran added that preparations for the East Asia Summit (EAS) were also reviewed at the senior officials' level. "In June, we will host senior officials' meetings for Asean, Asean Plus Three (APT), comprising China, Japan, and the Republic of Korea, as well as ARF and EAS-related meetings. "As such, a wide range of issues are being prioritised today to ensure that when the ministerial and leaders' meetings take place, Asean will be collectively prepared to chart the direction and mechanisms necessary for its ongoing initiatives." This year's Asean Summit, themed "Inclusivity and Sustainability", is expected to be particularly significant, as it will include the 2nd Asean-GCC Summit and the inaugural Asean-GCC-China Summit, reflecting Asean's growing engagement with key international partners.
Straits Times
09-05-2025
- Business
- Straits Times
Tourists visiting Malaysia can now sign up for Touch 'n Go eWallet to make QR payments
Tourists visiting Malaysia can now sign up for Touch 'n Go eWallet to make QR payments PETALING JAYA - Foreign tourists visiting Malaysia from Asean countries can now register for the Touch 'n Go eWallet to enable cashless payments via QR code at supported merchants nationwide. This includes Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Touch 'n Go Digital says the move is especially beneficial for local businesses, such as hawkers, which typically do not accept card payments. Visitors to Malaysia registered with the Touch 'n Go eWallet app will be able to top up their balance using credit or debit cards issued by banks in their home country. They are also not required to use a Malaysian phone number for registration, as verification codes will be sent via WhatsApp. The ewallet operator further says that this would be expanded to other non-Asean markets soon, including China, South Korea, Hong Kong, Taiwan, Japan, and more. For more information on the registration process, those planning a visit to Malaysia can visit the Touch 'n Go eWallet website. THE STAR/ASIA NEWS NETWORK Join ST's Telegram channel and get the latest breaking news delivered to you.
