ASEAN Geoeconomics Taskforce Convenes in Kuala Lumpur to Tackle Global Trade Challenges

KUALA LUMPUR, Sept 23 (VoM): The 5th Meeting of the ASEAN Geoeconomics Taskforce (AGTF) opened today in Kuala Lumpur, bringing together senior officials, regional think tanks, and business representatives to shape strategies for ASEAN’s economic resilience amid global trade tensions.

Chaired by Malaysia on behalf of Deputy Investment, Trade, and Industry Minister YB Liew Chin Tong and Indonesia’s Director General of International Trade Negotiations, Mr. Djatmiko Bris Witjaksono, the session included both in-person and virtual participation. Vice Minister Dyah Roro of Indonesia was among those attending physically.

The AGTF was first proposed at the 31st ASEAN Economic Ministers’ (AEM) Retreat in February 2025 to address unilateral tariffs imposed by the United States earlier this year. However, during a special AEM session in April, ministers agreed to broaden the task force’s mandate to cover wider geopolitical and geoeconomic priorities beyond ASEAN-US trade issues.

“The nexus between economic growth and political dynamics is undeniable. By integrating both, ASEAN can drive sustainable growth, strengthen resilience, and secure long-term prosperity for all member states,” the chair said in his opening remarks.

The findings and recommendations of the AGTF will be presented not only to the 57th AEM Meeting but also at a proposed joint session of ASEAN Foreign Ministers (AMM) and Economic Ministers (AEM) ahead of the 47th ASEAN Summit in October.

Despite being newly formed and holding only five meetings, mostly online, the task force has worked closely with leading think tanks such as BCG, AMRO, CSIS, and ERIA, along with business groups and the ASEAN Secretariat, to draft actionable recommendations.

An executive summary of the forthcoming ASEAN Geoeconomics Report was tabled today to guide deliberations, with the full report expected to be endorsed at the 57th AEM Meeting.

“The stakes are high, but I am confident that these recommendations will help balance economic and political security, ensuring ASEAN remains competitive, inclusive, and future-ready,” the chair added.