Kuala Lumpur: Robust intra-ASEAN economic activity is vital to stimulate demand for palm oil products amid stricter private regulations, tariff uncertainties, and other global economic challenges, said Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof. He emphasized that by focusing on intra-ASEAN cooperation and trade, more economic activities across member states in both downstream and upstream sectors can be stimulated, ensuring a resilient and self-sustaining growth engine.
According to BERNAMA News Agency, Fadillah highlighted that Malaysia and Indonesia are the biggest states in palm oil production. However, restrictions such as the European Union Deforestation Regulation (EUDR) limit the export of their products to overseas markets. By concentrating on ASEAN, economic activities among ASEAN member states could be increased, benefiting the entire ASEAN population. He delivered these insights at the Luncheon Power Talk Shared Prosperity: The New Imperative for ASEAN’s Economic Growth at the ASEAN Women Economic Summit 2025 (AWES 2025) held at a hotel in Kuala Lumpur.
Fadillah also urged for harmonized standards among ASEAN member countries by minimizing non-tariff barriers, strengthening supply chains, and opening up quality growth benefits to all member states. He stressed that strengthening ASEAN is necessary to safeguard shared prosperity and deliver tangible benefits to the entire ASEAN population. Enhancing regional trade, investment, and connectivity is crucial to building a more resilient and competitive single market.
He cited active cross-border trade among Thailand, Malaysia, and Indonesia as an example of beneficial regional cooperation. Facilitating such efforts could ensure greater cross-border trade for the benefit of ASEAN citizens.
The two-day inaugural AWES 2025, which began Saturday, took place alongside the 46th ASEAN Summit, under Malaysia’s 2025 Chairmanship. It was attended by over 700 delegates from government, business, and civil society across ASEAN. The summit, themed ‘Empowering Women, Energising ASEAN: Pioneering Economic Integration for a Resilient Tomorrow,’ emphasized the urgent need to position women at the forefront of ASEAN’s economic transformation. It addressed challenges such as global tariff wars, digital transformation, and sustainable development, featuring discussions, strategic brainstorming sessions, a leadership lab, and a mentorship program.
UOB Malaysia was the main sponsor of AWES 2025, with Kuok Brothers Sdn Bhd as the empowerment partner.