As Chairs of the Asean Geoeconomics Task Force (AGTF), we are pleased to present the first Asean Geoeconomics Report (AGR) 2025, which is the basis of discussion for the very first Asean Foreign Ministers-Asean Economic Ministers (AMM-AEM) joint meeting. The report is a collaborative effort that captures the region’s shared ambition to shape a more resilient, innovative, dynamic, and people-centred Asean. This vision, set out in Asean 2045: Our Shared Future, aims to ensure the region can respond effectively and continue to thrive amid external and internal challenges.
The idea for this task force came about as a response to a non-paper from Indonesia at the 31st Asean Economic Ministers (AEM) Retreat on Feb 28, 2025, urging for the reshaping of our Asean vision in response to external uncertainties. At the suggestion of Malaysia, the AGTF was proposed to be made up of experts and relevant senior officials from Asean member states and involving the 1.5 track. The creation of the AGTF was confirmed at the Special AEM Meeting on April 10, 2025, convened after the announcement of the US reciprocal tariffs on April 2, 2025. The AGTF was tasked to come up with a report that will assess the impact, key risks and opportunities arising from external uncertainties, formulate policy recommendations for Asean to navigate these challenges, and coordinate responses to ensure regional resilience.
The AGR 2025 comes at a pivotal moment for Asean. This time it is different because Asean is facing unprecedented external geopolitical uncertainties, disruption of the global economic order, and the growing nexus between economics and security. This calls for a holistic and coordinated response that safeguards Asean resilience and avoids harm, and reaffirmation of the underlying rules-based order that has been key to our regional integration and resilience. This time it is different, because many of the Asean member states are still working on the scarring effects of the Covid-19 pandemic while at the same time facing various domestic challenges such as slower growth and growing discontent. All these make it even more imperative for a collective response to minimise harm and safeguard domestic resilience.
Asean has stepped up in previous crises. This is yet another time given the significant risks to Asean’s growth, trade and stability. Given that it is different this time, the response must also be about shaping an Asean that is fit for purpose and fit for the future. There is a need to demonstrate Asean centrality by strengthening the regional architecture and playing an active agency role to lead the shaping of the new global agenda that will underpin our regional and domestic resilience. Reinforcing multilateralism remains a priority. There must also be a clear recognition of the need for a new approach to navigate geoeconomics and geopolitics and the growing nexus between security and economics, including by having a comprehensive vision and approach to regional security.
The main recommendations of the AGR 2025 centre around managing the short-term risks from external shocks and while the response to the US is to have constructive bilateral engagements, there are also ideas for how Asean member states should coordinate their positions and approaches in areas that are key for Asean economic integration, global value chains and stability. In the short and medium terms, Asean needs to effectively implement and monitor progress and impact of its commitments, continue advancing regional economic integration and resilience underpinned by domestic reforms, contribute and play an active role to strengthen multilateral rules and institutions, recognise the impact of growing economics-security nexus by strengthening cross-sectoral and pillar coordination and the institutional response needed to do so, and pursue ambitious goals in transforming the region.
We are delighted that there will be a Joint Asean Foreign and Economic Ministers’ Meeting ahead of the 47th Asean Summit in Kuala Lumpur, where the report will be presented. We hope that this meeting will be a regular arrangement from this year onwards for Asean to deal with geoeconomic challenges in a coordinated manner. To this end, we hope that the work of the AGTF will be continued through a similar high-level task force mechanism, one that is anchored on both the security and economic pillars and supported by eminent persons from Track 1.5. We also hope that the inaugural AGR will be followed by subsequent annual iterations to guide Asean through the more turbulent world ahead.
We hope that this report will raise awareness and lead to the recognition by policymakers of the risks and challenges of the ongoing geoeconomics shifts, as well as the opportunities for Asean not only to respond to them but also to take agency in shaping the regional and global agenda that will ensure a shared future for Asean.
Liew Chin Tong is the deputy minister of investment, trade and industry for Malaysia, and Dyah Roro Esti Widya Putri is the deputy minister of trade for Indonesia.