Asean on track to become world's fourth-largest economy by 2030, says Nik Nazmi

The Star

Asean is on track to become the world's fourth-largest economy by 2030, but its growth must be inclusive to ensure all communities benefit, says Nik Nazmi Nik Ahmad.  Speaking at the Asean Youth Economic Forum (AYEF) 2025 on Friday (Feb 14), the Natural Resources and Environmental Sustainability Minister stressed that the real challenge is not just reaching this economic milestone but also leveraging Asean's strength to drive sustainable and equitable development for everyone.  Read more at https://tinyurl.com/4xxs3uzh   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00There is a tendency, you know, ASEAN has been around for quite some time, even before I

00:10was born, ASEAN has been around.

00:13And when ASEAN came about, this was a region that was in the middle of the Cold War.

00:19We were in the middle of the nuclear rivalry between the different countries, and many

00:26parts of ASEAN were still relatively poor at that time.

00:32And so, by becoming ASEAN, by coming together, countries, even neighboring countries, we

00:39had our strong rivalries.

00:41And I'm not talking about Nasi Lemak belongs to which country, we are talking about real

00:47geopolitical tensions, we had soldiers on the ground between different countries of

00:52ASEAN.

00:53So, the decision to be together, to form ASEAN was a very significant decision, and that

01:01has contributed to the peace and stability that we enjoy in this region.

01:08Today, ASEAN is a region of 670 million people.

01:16If you think Malaysia, we are just 35 million.

01:21But if we come together as ASEAN, we are bigger in terms of population than the European Union.

01:30If all goes according to plan, by the year 2030, five years down the road, we, if ASEAN

01:37is one country, we will be the fourth biggest economy in the world.

01:42Can you imagine that potential?

01:44I remember you saying just now that if all the ASEAN countries come together, we can

01:49be the fourth largest economy in the world.

01:51So, can you elaborate on that part?

01:54Yeah, so, well, now not yet, now I think we are number five, but the forecast is by 2030,

02:01ASEAN can reach, to become the fourth biggest economy, and currently our population is 670

02:08million.

02:10Of course, ASEAN is very diverse, I mentioned, some of the urban areas, not just Singapore,

02:14Brunei, you take KL, Penang, maybe you take Bangkok, Manila, Jakarta, and all that, the

02:20GDP level is very, very high.

02:22But there are also other pockets, even in Malaysia, other countries where we know that

02:26it's still quite left behind, right?

02:28So, I think the challenge is not just being the fourth biggest economy, how do we harness

02:34that as a strength, and how do we ensure that we can deliver sustainable and equitable

02:40development for everyone?

02:43Because it's not enough to say that you're the fourth biggest economy, but we still have

02:46a lot of people who do not get electricity, who do not get education, where women are

02:51still left behind, you know, those sort of things have to be addressed as well.

02:55So, I think, but the potential is of course there, and I think, you know, that's why this

03:00year's theme of ASEAN for inclusivity and sustainability is actually very critical,

03:06so that everyone can feel that, you know, that they feel that they are part of this,

03:10the potential of ASEAN.

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