Indonesia, Malaysia, Thailand boost economic cooperation
Indonesian President Joko Widodo on May 11 chaired the 15th Summit of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) within the framework of the 42nd ASEAN Summit that took place in Labuan Bajo, Indonesia, from May 9-11.
Indonesian President Joko Widodo speaks with Malaysian Prime Minister Anwar Ibrahim and Thai Finance Minister Arkhom Termpittayapaisith shortly before the 15th IMT-GT Summit in Labuan Bajo on May 11. (Photo: Antara)
Labuan Bajo (VNA)⛦ – Indonesian President Joko Widodo onMay 11 chaired the 15th Summit of the Indonesia-Malaysia-ThailandGrowth Triangle (IMT-GT) within the framework of the 42nd ASEANSummit that took place in Labuan Bajo, Indonesia, from May 9-11.
Speaking at the opening ceremony of the summit, President JokoWidodo said he is pleased to see that the IMT-GT recorded 618 billion USD worth oftrade in the crisis-hit 2021. He affirmed that the three countries will drive inclusive andsustainable economic growth to response challenges ahead. The leader called on IMT-GT for embracing the spirit of collaboration,particularly in driving competitiveness, connectivity, tourism, andinvestment, to achieve the 2036 IMT-GT Vision. According to the Indonesian President, in its 30th year, theIMT-GT has become a golden triangle of cooperation in ASEAN./.
Indonesian President Joko Widodo on May 9 had bilateral meetings with Malaysian Prime Minister Anwar Ibrahim, Prime Minister of Laos Sonexay Siphandone, and Prime Minister of Timor-Leste Taur Matan Ruak on the sidelines of the 42nd ASEAN Summit in Labuan Bajo, West Manggarai, East Nusa Tenggara.
Indonesia and other ASEAN countries' digital economy and financial ecosystem have a positive potential, Deputy Governor of Bank Indonesia (BI) Filianingsih Hendarta said on May 9 at the 2023 Indonesian Digital Finance Economic Festival (FEKDI) in Jakarta.
Prime Minister Pham Minh Chinh showed Vietnam’s efforts and wishes to work with other ASEAN member states in building the identity, value, vitality and reputation of the regional bloc and deepen Vietnam's relations with them, while attending activities within the framework of the 42nd ASEAN Summit in Indonesia from May 9-11.
The trip to Indonesia by Prime Minister Pham Minh Chinh and his entourage to attend the 42nd ASEAN Summit from May 9 to 11 has become a fine success which saw the leader make several proposals for promoting the self-reliance and unlocking resources for the development of the ASEAN Community, Foreign Minister Bui Thanh Son has said.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
Indonesian President Joko Widodo speaks with Malaysian Prime Minister Anwar Ibrahim and Thai Finance Minister Arkhom Termpittayapaisith shortly before the 15th IMT-GT Summit in Labuan Bajo on May 11. (Photo: Antara) 
