Kuala lumpur: ASEAN must strengthen its legal certainty and dispute settlement mechanisms to sustain business confidence as the region advances towards becoming the world’s fourth-largest economy by 2030, Secretary-General Dr. Kao Kim Hourn emphasized today.
According to BERNAMA News Agency, Dr. Kao highlighted in his opening address at the ASEAN Law Forum 2025 that ASEAN’s economic integration has propelled the region to become the world’s fifth-largest economy, with projections indicating its gross domestic product (GDP) to reach about US$4.5 trillion by the end of the decade. He stressed the importance of providing effective and trusted mechanisms for resolving commercial disputes to ensure that investors and businesses can operate in ASEAN with confidence.
Dr. Kao noted that ASEAN member states have made significant progress in advancing their international commercial arbitration, reflecting their commitment to reinforcing the rule of law and accelerating economic integration. This progress aligns with international best practices and demonstrates regional determination.
He mentioned notable developments such as the adoption of new and revised arbitration laws, potential accession to the 1958 New York Convention, and the adoption of the Singapore Convention on Mediation by the UN General Assembly in December 2018. These efforts underscore ASEAN’s recognition of arbitration and mediation as essential mechanisms for enhancing trust, ensuring predictability, reducing risk, and reshoring global commerce.
ASEAN member states have also explored matters related to arbitration laws and practices, including establishing an advisory panel on arbitration, setting standards for international sales of goods, enhancing legal infrastructure for e-commerce, and the signing and ratification of the Singapore Convention on Mediation. Dr. Kao emphasized that aligning trade-related legal frameworks with regional and global standards, particularly under the United Nations Commission on International Trade Law, underscores ASEAN’s commitment to multilateralism and a rules-based order.
The ASEAN Law Forum 2025, themed “Enhancing Access to Justice in the ASEAN Economic Community: Bridging Legal Cooperation for Inclusive Growth,” was held from Aug 19-21, 2025. The event was organized by the Asian International Arbitration Centre in collaboration with the Legal Affairs Division of the Prime Minister’s Department. Prime Minister Datuk Seri Anwar Ibrahim and Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said were also present at the event.