KUALA LUMPUR (Oct 29): The Ministry of Investment, Trade and Industry (Miti) will bring forward 15 priority economic deliverables (PEDs) to accelerate economic integration and address critical challenges within the Association of Southeast Asian Nations (Asean).

Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz shared that discussions on these PEDs will take place in December during the senior economic officials meeting (SEOM), with the goal of advancing initiatives that align with Asean’s economic priorities.

“These PEDs are designed to tackle specific economic challenges and capitalise on opportunities across the region, ensuring initiatives that are impactful and aligned with Asean’s economic goals,” Zafrul said at Malaysia’s Asean 2025 chairmanship briefing on Tuesday.

The PEDs, expected to function as a “report card” for the region, must be implemented within the year and reflect agreement from all ten Asean nations, including Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, Vietnam, and Malaysia.

The PEDs aim to deepen regional economic integration through strategies that include expanding trade partnerships with major economies such as China, India, and the Gulf Cooperation Council (GCC) countries.

Additionally, the PEDs are structured to promote sustainable and inclusive growth, with a focus on enhancing climate finance, capital markets, and fair transition frameworks, especially for micro, small, and medium enterprises (MSMEs), and the mineral resources sector.

Another crucial aspect of the PEDs is improving economic connectivity and building a digitally resilient Asean. This involves initiatives like establishing a regional semiconductor supply chain framework and advancing the Asean Digital Economy Framework Agreement (Defa), which will cover areas such as technology start-ups, artificial intelligence (AI) safety, and digital payment systems.

The PEDs, which could result in declarations, agreements, or joint ventures, aim to build on Asean’s past achievements and adopt a progressive approach to regional economic cooperation.

Currently, Asean holds its place as the fifth largest economy globally, with a nominal gross domestic product (GDP) of US$3.8 trillion and a population of 680 million, accounting for 3.6% of global GDP. The region’s major trading partners for goods exports include intra-Asean (22.9%), China (14.8%), and the US (14.8%).

Meanwhile, Zafrul also revealed that plans are underway to establish an AI safety network in 2025, underscoring Asean’s dedication to building a resilient digital economy.