Kuala Lumpur: The collective ASEAN gross domestic product (GDP) is projected to grow at 4.7 percent in 2025, an increase from 4.2 percent last year, announced Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He made this statement during a press conference following the 25th ASEAN Economic Community (AEC) Council meeting, which was held on the sidelines of the 46th ASEAN Summit.

According to BERNAMA News Agency, the AEC Council meeting also forecasted the inflation rate for the region to be three percent. Tengku Zafrul highlighted that these projections for 2025 were discussed in a presentation by the ASEAN Secretariat, focusing on GDP growth and inflation rates. The expectation for the upcoming year is a 4.7 percent GDP growth for ASEAN, with inflation around three percent.

Tengku Zafrul noted that this projected growth rate is higher than the global average and is primarily driven by strong exports and public capital spending in larger economies within the region. However, he cautioned that the 4.7 percent growth is subject to downside risks due to external environmental factors.

In terms of trade negotiations, Tengku Zafrul emphasized that ASEAN member states have reaffirmed their commitment to ASEAN neutrality and multilateralism, particularly in their engagements with the United States. He acknowledged that while each ASEAN country will maintain its own position in relation to the US, the bilateral engagements carried out by member states are welcomed.

The 46th ASEAN Summit is being held under Malaysia’s ASEAN 2025 Chairmanship theme of ‘Inclusivity and Sustainability’. This marks Malaysia’s fifth time chairing the regional bloc, with previous chairmanships in 1977, 1997, 2005, and 2015. The summit and its related meetings are anticipated to tackle a range of pressing regional and international issues, with the ongoing crisis in Myanmar being a significant concern for ASEAN member states.

Additionally, the summit will feature two important inter-regional platforms: the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the inaugural ASEAN-GCC-China Summit. These events underscore the growing engagement between Southeast Asia and its strategic partners in the Gulf and China.