Kuala Lumpur: Internal stability and strength are crucial foundations for Malaysia to play a meaningful role at the regional and international levels, including within the ASEAN cooperation framework, Prime Minister Datuk Seri Anwar Ibrahim said.
According to BERNAMA News Agency, speaking at the Finance Ministry’s (MoF) monthly assembly today, Anwar emphasized that noble intentions to assist other nations, such as Myanmar or Gaza, may not be realized if Malaysia fails to manage itself transparently and effectively. He highlighted that instability, poor governance, and a focus on personal wealth would render Malaysia’s intentions to help other countries meaningless.
In this context, Anwar stressed the need for good governance and sound economic management as the foundation to bolster Malaysia’s role in ASEAN. He also expressed appreciation to MoF staff for successfully organizing last week’s ASEAN Finance Ministers’ Meeting, marking it as a proud achievement for Malaysia as this year’s ASEAN Chair.
The 12th ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM), which concluded recently, successfully reinforced regional financial integration and cooperation. Held at the Kuala Lumpur Convention Centre (KLCC) from April 7 to 10, it saw the participation of around 300 delegates, including ASEAN finance ministers, central bank governors, and officials from international financial institutions and the private sector.
On ASEAN’s future direction, Anwar highlighted the importance of focusing on issues within the region’s control, such as strengthening intra-ASEAN economic cooperation, instead of being consumed by difficult international conflicts. He pointed to practical initiatives like expanding the use of local currencies in regional trade through mechanisms like the Chiang Mai Initiative (CMI), with early successes already seen in trade transactions between Malaysia, Indonesia, and Thailand.
The CMI is a multilateral currency swap arrangement involving the 10 ASEAN countries along with China, Japan, and South Korea (ASEAN+3), established to strengthen the region’s financial safety net post the 1997 Asian Financial Crisis.
Reflecting on ASEAN’s founding vision, Anwar recalled earlier leaders’ aspirations for Southeast Asia to be a peaceful and neutral zone, free from the influence of major powers during the Cold War era. He emphasized the principle of centrality, maintaining good relations with all parties without compromising national and regional interests.