KUALA LUMPUR, May 25, 2025 — Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof emphasized that robust intra-ASEAN trade is crucial to bolster palm oil demand in the face of global economic challenges, including stricter private regulations and tariff uncertainties.
Speaking at the Luncheon Power Talk on Shared Prosperity: The New Imperative for ASEAN’s Economic Growth during the ASEAN Women Economic Summit 2025 (AWES 2025) at Shangri-La Hotel, Fadillah highlighted that enhanced cooperation among ASEAN member states can drive economic activity in both upstream and downstream palm oil sectors, fostering resilient and self-sustaining growth.
“Malaysia and Indonesia, as leading palm oil producers, face export restrictions due to measures like the European Union Deforestation Regulation (EUDR). By prioritizing intra-ASEAN trade, we can sustain economic activities and deliver benefits across the region,” he said.
Fadillah urged ASEAN nations to harmonize standards, reduce non-tariff barriers, and strengthen supply chains to enhance regional trade, investment, and connectivity.
“A stronger ASEAN is not just strategic but essential for shared prosperity and a competitive single market,” he added, citing active cross-border trade among Thailand, Malaysia, and Indonesia as a model to emulate.
The inaugural AWES 2025, held on the sidelines of the 46th ASEAN Summit under Malaysia’s 2025 Chairmanship, drew over 700 delegates from government, business, and civil society. Themed Empowering Women, Energising ASEAN: Pioneering Economic Integration for a Resilient Tomorrow, the two-day summit underscored women’s pivotal role in navigating global challenges like tariff wars, digital transformation, and sustainable development. It featured strategic discussions, leadership labs, and mentorship programs.
UOB Malaysia is the main sponsor of AWES 2025, with Kuok Brothers Sdn Bhd as the empowerment partner.
Source : BERNAMA