Kuala Lumpur, September 6, 2025: ASEAN is charting a path toward stronger trade, growth, and investment—a trajectory underpinned by its unique diversification across labour, land, and capital, according to economist Prof Dr Peter Mayer, adjunct professor of International Economics at University Polytech Malaysia and Osnabrück University of Applied Sciences.
In an interview on Bernama TV’s The Nation, Prof Mayer highlighted how ASEAN economies like Malaysia, Singapore, Indonesia, the Philippines, and Thailand have successfully diversified their export markets and product profiles—arming them against shocks from pandemics, geopolitical tensions, and supply-chain disruptions.
“Diversity is a source of wealth,” he stated. Malaysia, in particular, has benefitted from a resilient export structure, spreading its risk across multiple markets and product categories.
As ASEAN solidifies its economic base, Prof Mayer noted that deepening the digital economy is a timely step forward. He outlined three regulatory pillars that require urgent attention:
- Digitally ordered goods, such as zero-duty transactions on platforms like Shein and Temu, which exploit tariff loopholes.
- Digitally delivered services—think Netflix streaming—which necessitate clearer content and access regulations.
- Digital intermediation platforms, including global players like Booking.com and Amazon, which now require oversight under robust regulatory frameworks.
He emphasized that to sustain regional trade growth, ASEAN must not only maintain its economic diversification but also establish forward-looking rules that govern digital trade in an increasingly interconnected world.
Source: Bernama
