ASEAN’s future direction: PM Anwar shares what Malaysia is pushing for as 2025 Chair

As ASEAN Chair, Malaysia is keen to drive practical economic cooperation, starting with local currency trade.

Malaysia's Prime Minister Datuk Seri Anwar Ibrahim has emphasised that the country's ability to play a meaningful role in ASEAN would rely on strong governance and internal stability.

As reported by Bernama, he stressed that efforts to aid countries such as Myanmar or Gaza would be ineffective if Malaysia is poorly managed.

Speaking at the Ministry of Finance's (MOF) monthly assembly, PM Anwar also commended the MoF staff for successfully hosting the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) in Kuala Lumpur. The event, which drew around 300 delegates from 7 April to 10 April 2025, was described as a key milestone for Malaysia as this year’s ASEAN Chair, helping to strengthen regional financial integration and cooperation.

Looking ahead, PM Anwar urged ASEAN to focus on what’s within the region’s control particularly strengthening intra-ASEAN economic ties rather than getting caught up in international conflicts.

He highlighted the growing use of local currencies in ASEAN trade, noting that about 20% of transactions between Malaysia, Indonesia and Thailand are now done in local currencies.

"These are early successes, but there remains vast potential to grow trade among ASEAN countries," he said.

This move is said to align with the Chiang Mai Initiative (CMI), a multilateral currency swap arrangement among ASEAN+3 countries, aimed at safeguarding regional financial stability since the 1997 Asian Financial Crisis.

The Malaysia PM also reflected on ASEAN’s founding vision, inspired by leaders such as the late Tun Abdul Razak, who envisioned a neutral Southeast Asia free from major power influence.

"Today, we call it the principle of centrality — maintaining good relations with all parties without sacrificing the interests of our nation and the region," PM Anwar concluded.

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Lead image / Anwar Ibrahim Facebook