Singapore (VNA) – The ASEAN+3 Macroeconomic Research Office (AMRO) forecasts the ASEAN+3 region’s economic growth to expand by 3.8% in 2025 and 3.6% in 2026.
These figures, representing ASEAN member states, China, the Republic of Korea (RoK) and Japan, were released in the ASEAN+3 Regional Economic Outlook (AREO)’s quarterly update.
The growth forecasts represent a downward revision from AMRO’s April projections of 4.2% in 2025 and 4.1% in 2026. This adjustment reflects heightened global uncertainties, particularly the evolving US tariff measures.
“Encouragingly, the ASEAN+3 region enters this period of global trade turbulence from a position of relative strength and resilience," said AMRO Chief Economist Dong He. He added that most regional policymakers have acted early to cushion the impact of the trade shock, and policy space remains available for further support if needed.
According to AMRO, inflation in the region continues to moderate, despite a temporary spike in oil prices driven by Middle East tensions. The region's financial markets have also shown resilience, with regional currencies generally appreciating against the US dollar amid growing market concerns over US policy uncertainty.
However, the office noted that the economic outlook for ASEAN+3 remains clouded by significant uncertainties, with escalating US tariffs posing the most salient risk.
Do🐬ng He said deeper regional integration is both urgent and necessary in a world that is increasingly being reshape𒁏d by fragmentation. He noted that by strengthening regional cooperation while maintaining openness to the world and standing firm on rules-based multilateralism, ASEAN+3 can build resilience against external shocks and create new growth opportunities./.
Several world leaders, including those from Asia, Europe, Canada, the US, Africa and Latin America, are expected to attend the 47th ASEAN Summit scheduled to be held in Kuala Lumpur this October, Malaysian Prime Minister Datuk Seri Anwar Ibrahim said on July 21.
Deputy Prime Minister Datuk Seri Fadillah Yusof said key decisions regarding the APG roadmap were expected to be finalised at the 43rd ASEAN Ministers on Energy Meeting (AMEM) in Kuala Lumpur this October, following encouraging progress made during the recent Senior Officials Meeting on Energy (SOME).
The minister also stated that the Association of Southeast Asian Nations (ASEAN) is also increasingly recognised as a peaceful region with a strong and growing economy.
The Malay Contractors Association of Malaysia (PKMM) said that the shortage arose when the government has restricted the entry of foreign workers since last year.
The Thai Ministry of Commerce has launched a PR campaign called ‘Key Message Think Wellness, Think Thai Herb’ in order to raise awareness and promote the strength of the herbal sector, both domestically and globally.
Garuda Indonesia plans to gradually increase its fleet to around 120 aircraft by 2030, up from about 100 currently, including its budget carrier Citilink, and to add at least 100 new routes by 2029.
Malaysia identifies artificial intelligence (AI) as a key strategic driver to turn Kuala Lumpur into its leading smart city, towards a livable, sustainable urban model and enhancing its competitiveness in ASEAN
A storm called Francisco, located 900km east of northern Luzon as of 10 am, is moving northward with sustained winds of 65 km/h and gusts up to 80 km per hour. It is expected to exit the Philippine area of responsibility by July 24 and head toward northern Taiwan.
Communities are also warned of potential secondary disasters such as lava floods, mudflows, and ash rain along rivers and valleys, especially near the Besuk Kobokan River.
The ASEAN Agreement on Disaster Management and Emergency Response (AADMER), signed in 2005, as the cornerstone of regional cooperation. AADMER provides a framework for member states to coordinate disaster risk reduction, preparedness, and response, with the goal of building a resilient ASEAN Community.
Malaysia and Brunei will hold the 26th Meeting on the Implementation of the Exchange of Letters (EOL) on July 23, a key platform for resolving bilateral issues and expanding cooperation. The meeting will address progress on matters including land and maritime boundaries, as well as steps to strengthen economic collaboration.
In a post on Truth Social shortly afterward, Trump said that while the Philippines will open up completely to US goods, he will still impose a 19% tariff on products from the Southeast Asian country, a major exporter of high-tech items and apparel.
Indonesia will open its doors to US industrial products, technology, and agricultural goods by eliminating 99% of tariff barriers. The US will sell products manufactured domestically to Indonesia at zero tariff rates while reducing to 19% the reciprocal tariffs on originating goods of Indonesia.
The Ministry of Natural Resources and Environmental Sustainability (NRES), in a statement on July 22, said the meeting serves as ASEAN's highest technical platform on environmental matters, bringing together senior officials from all 10 member states to strengthen regional policies, strategies and cooperation on environmental protection.
Malaysian Deputy Prime Minister Fadillah Yusof said that without comprehensive and coordinated solutions, Malaysia may face the risk of clean water supply disruptions that could impact citizens' lives and the nation's economic development.
The Thai government has allocated a 4.5 billion THB budget (about 139.5 million USD) to drive 22 strategic initiatives in response to the changing tourism landscape based on a forward-looking framework of five new paradigms.
According to Dr. Goh Lim Thye, a lecturer at the Faculty of Economics, University of Malaya, Malaysia’s public debt stood at 1.22 trillion MYR (290 billion USD) as of April 2024, equivalent to 63% of its Gross Domestic Product (GDP). However, this level is not inherently risky.
Forest fires have been the most frequent type of natural disaster in Indonesia since the beginning of July. Of the 42 disasters recorded this month, 33 were forest fires.
