Malaysia PM Mahathir Mohamad Discusses Trade and Commerce with ASEAN BAC

The ASEAN Business Advisory Council members together with Malaysian Prime Minister Tun Dr. Mahathir Mohamad

KUALA LUMPUR -- ASEAN Business Advisory Council (ASEAN BAC) Malaysia Chair Tan Sri Dr. Munir Majid organised the roundtable discussion together with ASEAN BAC chairmen and Malaysian Prime Minister Tun Dr. Mahathir Mohamad in Malaysia last August 30, 2018.

“We are honored to engage with Prime Minister Mahathir Mohamad for three hours.” A small group of ASEAN Business Advisory Council chairs and special guests was invited by ASEAN BAC. PM Mahathir, who is 93 years old, is very strong, has a great memory and greatly answers the questions that were asked. “He is the last remaining leader of that era in ASEAN,” ASEAN BAC PH Chair Joey Concepcion highlighted after the event.

ASEAN Business Advisory Council Philippines chairman Joey Concepcion with Malaysian Prime Minister Tun Dr. Mahathir Mohamad.

Tan Sri Dr. Mohd Munir Abdul Majid and ASEAN BAC Chairs welcome PM Mahathir to the meeting

Furthermore, the roundtable revolved mainly on trade wars between countries and the tariffs implemented which then leads to protectionism, commitment to free trade and open economies. Also, the council pointed out barriers to trade, investment and movement of skilled labour should be reduced to achieve regional growth and a chance for ASEAN countries to lead in the market and be the fourth largest economy in the world by 2050.

It was then suggested that ASEAN could collaborate in advanced technologies such as semiconductors, robotics, additive manufacturing, artificial intelligence, quantum computing and more innovative ideas since ASEAN is now entering the Industry 4.0. Additionally, business leaders at the roundtable brought up the force of technology in the digital economy which would drive productivity and growth, and render greater connectivity and economic integration in Asean.

With an enabling society that nurture and invest in education and training, as well as policies that empower every ASEAN countries thus inclusive growth and prosperity will be achieved.

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