'Trumpian Crisis' Opportunity To Turbo-charge Integration, Resilience Of ASEAN - Nazir Razak

By Danni Haizal Danial Donald

KUALA LUMPUR, April 8 (Bernama) -- Calling the United States’ (US) tariffs move as a “Trumpian crisis”, Tan Sri Nazir Razak said it is an opportunity for ASEAN to demonstrate and further cement unity and resilience and together turbo-charge economic integration of the bloc.

Despite the challenges ahead, the ASEAN Business Advisory Council (ABAC) chairman said he is optimistic about ASEAN as ASEAN’s strategic neutrality has attracted investors from the east and west.

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In 2023, foreign direct investment (FDI) into the region hit a record US$230 billion (or 17.2 per cent of global FDI) despite a 10 per cent decline in global FDI inflows, he said in his keynote address at the ASEAN Investment Conference 2025 here.

It also maintains strong economic ties with all major and super economic powers.

"ASEAN has been adept at maintaining unity within and neutrality without."

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"No doubt, these will be tested in the coming weeks and months, but this ‘Trumpian crisis’ is also an opportunity to demonstrate and further cement ASEAN’s unity and resilience. We are stronger together; we mustn’t be divided by cheque books or security blankets,” he said.

Nazir said his optimism on ASEAN is also derived from the new line of internationalist leaders’ optimism towards ASEAN, said Nazir.

“For the first time we have a new cadre of internationalist leaders; from Malaysia’s Datuk Seri Anwar Ibrahim to Indonesia’s Prabowo Subianto, Singapore’s Lawrence Wong, Thailand’s Paetongtarn Shinawatra, the Philippines’ Bongbong Marcos and Cambodia’s Samdech Hun Manet. 

"ASEAN works best when leaders are genuinely enthusiastic about regionalism, and I don’t recall a time when we had so many at one time," he noted.

Besides these, he said the regional grouping has learnt hard lessons from its own past, not least about the imperative of “execution” versus rhetoric.

ASEAN has better prospects today because the bloc understands not just the possibilities, but also the limitations better than in 2007 when the ASEAN Economic Community (AEC) plan was launched and it fell considerably short of its promise.

"Back then, we thought we wanted to grow up to be like the European Union (EU), but we now know that we cannot and should not. When you have realistic plans, chances of success are always better. And really, it should be about achieving tangible, piecemeal progress, not grandiose plans,” he said.

-- BERNAMA