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ASEAN Set To Be Fourth Largest Economy By 2050

ASEAN is set to be the world’s fourth largest economy by 2050 based on the current trends of economic growth, according to Malaysia’s Prime Minister Datuk Seri Najib Tun Abdul.

Bahar Karaman

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ASEAN is set to be the world’s fourth largest economy by 2050 based on the current trends of economic growth, according to Malaysia’s Prime Minister Datuk Seri Najib Tun Abdul.

He said it would be the seventh-largest in the world now if ASEAN were seen as one economy, with its combined gross domestic product in 2014 at US$2.5 trillion and US$2.4 trillion in 2013.

“The Organisation for Economic Co-operation and Development (OECD) predicts overall annual growth of 5.6 per cent over the next four years. If current trends continue, ASEAN is set to be the world’s fourth largest economy by 2050,”

he said in his speech at the ASEAN Business Awards Malaysia (ABAM) 2015 Gala Dinner here tonight.

The 6th ABAM is organised by the ASEAN Business Advisory Council Malaysia in recognition of outstanding national sector champions that have contributed positively to the ASEAN economy.

The prime minister said ASEAN is in the process of building on a strong and consistent record.

In terms of per capita income growth, he said ASEAN has dramatically outpaced the rest of the world since the late 1970s.

Najib highlighted the McKinsey report that showed that the number of consumer households earning over USD$7,500 a year will double to 125 million by 2025.

“And with a population over 600 million; larger than either the European Union or North America, our potential market is huge.

“So the work of integrating our 10 nations into an Economic Community is crucial,”

he stressed.

The ASEAN Community is to be established this year. ASEAN should convey, very early in the new year, a coordinated message on what exactly the ASEAN Community 2015 is and what the people can expect come 31 December 2015.

Many people have a vague idea of what the ASEAN Community 2015 (AC15) is all about and how it benefits or impacts them. The lack of clear coherent messaging by the authorities leads some to benchmark the AC15 with the European Union (EU), while others have the impression the AC15 is all about the ASEAN Economic Community (AEC) which invariably gets the most attention in public discourses.

ASEAN must make a concerted effort to convey in specific quantitative, if not qualitative, terms what it had planned to achieve and how well it is doing, regularly throughout the year. Otherwise the public who are being primed to expect “delivery” of the AC15 on 31 December 2015 will be greatly disappointed if they are anticipating a Cinderella-like transformation on that day.

Read more at https://www.thailand-business-news.com/asean/50381-what-is-the-asean-community-2015.html#i9C26Wzx3LtA4du8.99

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Asean

Singapore’s Resilience Package: Support for Businesses and Jobs in 2021

The maximum loan quantum for domestic projects is S$30 million (US$22.7 million) and the government’s risk-share of loans is up to 70 percent.

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Singapore’s Resilience Package: Support for Businesses and Jobs in 2021

On February 16, 2021, Singapore’s government announced its 2021 national budget where it allocated S$11 billion (US$8.3 billion) for a new fiscal package, named the COVID-19 Resilience Package, which extends existing schemes to help businesses and save jobs by subsidizing wages of workers, providing access to working capital for businesses, and supporting targeted industries like aviation.

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United States

US pledges to enhance cooperation with Mekong subregion’s countries

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The US will bolster support for countries in the Mekong subregion through the Mekong-US partnership, US Principal Deputy Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Atul Keshap said at a recent online seminar to reveal results of a report on transboundary rivers and addressing challenges in Mekong River.

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Asean

ASEAN, Canada, UN Women launch 5-year programme to advance Women, Peace and Security Agenda

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Joint Press Release ASEAN, Canada, UN Women jointly launch 5-year programme to advance Women, Peace and Security Agenda
Jakarta/Ottawa/New York, 24 February 2021 – The Association of Southeast Asian Nations (ASEAN), Canada and UN Women jointly launched today a five-year programme to expand and strengthen women’s leadership and participation in conflict prevention, resolution and recovery in South-East Asia.

The CAD 8.5 million (US $6.36 million) programme, “Empowering women for sustainable peace: preventing violence and promoting social cohesion in ASEAN”, is funded by Global Affairs Canada to support ASEAN and the implementation of the ASEAN-Canada Plan of Action 2021-2025, with the support of UN Women as a lead UN partner.

“Canada is proud to launch this flagship initiative that uses the women, peace and security approach to promote inclusive and sustainable peace and security in the region, while addressing the systemic gender inequality,” said Diedrah Kelly, Canada’s Ambassador to ASEAN.

ASEAN has made important strides to advance women, peace and security agenda, including the adoption of the first ‘Joint Statement on Promoting Women, Peace and Security in ASEAN’ in 2017, the launch of the ASEAN Women’s Peace Registry in 2018, and convening the first ASEAN Symposium on Women, Peace and Security in 2019 and the ASEAN Ministerial Dialogue on Strengthening Women’s role for Sustainable Peace and Security in 2020.

Secretary-General of ASEAN Dato Lim Jock Hoi said, “ASEAN is working concertedly to advance women, peace and security agenda across the three ASEAN Community Pillars as part of our commitment to promote gender equality and the roles of women in the implementation of the ASEAN Comprehensive Recovery Framework.”

The COVID-19 impact has increased the risks for women and girls in fragile and conflict-affected contexts and this challenges us to re-examine threats to human security. “The pandemic highlights the important linkage between peace, humanitarian and development and the critical need for women’s leadership and participation to ensure effective and comprehensive response, from policy decision-making to peace building and pandemic response,” said Jamshed Kazi, UN Women Representative and Liaison to ASEAN.

The new programme reflects the commitment of ASEAN and Canada to promote gender equality and to respond to an increasingly widespread calls across the globe for women to be empowered to lead and participate in peace and development.

ASEAN includes Brunei, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.

For more information, please contact:
Montira Narkvichien
Regional Communications Specialist
UN Women Asia and the Pacific
Tel: +66 2 288 1579 | Mobile: +66 81 6688900 | Email: [email protected]

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