Kuala lumpur: The introduction of ASEAN Business Entity (ABE) status holds significant potential to establish more ASEAN multinational companies (MNCs), according to Deputy Minister of Investment, Trade and Industry, Liew Chin Tong. This initiative is anticipated to enhance market opportunities within the region by fostering economic and industrial activities among ASEAN member states.
According to BERNAMA News Agency, Malaysia, as the ASEAN Chair in 2025, proposed the idea of implementing ABE, which has also been included as one of the initiatives under Budget 2026. Liew expressed hopes that this initiative would reduce reliance on MNCs from the West and other countries, thereby strengthening the regional market.
Liew addressed these points during a question-and-answer session in the Dewan Rakyat. He was responding to a supplementary question from Datuk Wan Saifulruddin Wan Jan (PN-Tasek Gelugor) about Malaysia’s commitment to free market principles and an open economy, especially within the ASEAN framework.
Furthermore, Liew discussed ASEAN’s commitment to reducing non-tariff barriers to bolster regional economic integration. This commitment aims to ensure that trade benefits are inclusive, reaching micro, small, and medium enterprises (MSMEs).
Several initiatives have been undertaken by ASEAN to achieve these objectives. These include the establishment of the Sectoral Coordinating Committee on the Implementation of the ASEAN Trade in Goods Agreement (CCA) and the ASEAN Trade Facilitation Joint Consultative Committee (ATF-JCC).
Additionally, the ASEAN Single Window regional digital platform has been created, linking the National Single Window (NSW) systems of each ASEAN member state. This platform facilitates the electronic exchange of customs and trade documents between countries.
Liew also mentioned the development of Guidelines for the Implementation of ASEAN Commitments on Non-Tariff Measures on Goods, the Mutual Recognition Arrangement (MRA), and the upgrading of the ASEAN Trade in Goods Agreement (ATIGA).