Kuala lumpur: ASEAN member states should forge stronger regional cooperation in the steel industry to accelerate the creation of an ASEAN integrated market, as well as overall integration. Investment, Trade and Industry (MITI) Deputy Minister Liew Chin Tong emphasized the need for collaboration on decarbonisation roadmaps, technology sharing, and pooled procurement to build regional steel alliances.

According to BERNAMA News Agency, Liew highlighted that ASEAN countries have historically treated investment in the steel industry as private ventures, with a focus on attracting foreign investment and boosting steel output and exports. However, he cautioned that solely pursuing these goals could result in increased carbon emissions, trade frictions, and potential trade wars, creating a detrimental cycle.

Liew delivered these remarks during his special address at the ASEAN Policymakers Conference on Steel and the 2025 ASEAN Iron and Steel Forum on Sustainability and Construction. He urged ASEAN to adopt the highest standards for clean and green steel production, coordinate capacity, and seek a regional approach to steel production and investment, including exploring blended financing opportunities.

“In the changing geoeconomics landscape, ASEAN has agency, and we should act in concert,” Liew stated. He expressed hope that ASEAN member states would lead the formation of a global coalition for clean and green steel, providing a platform for such cooperation.

Additionally, Liew mentioned that MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz will soon launch the Iron and Steel Industry Roadmap to further this initiative.