Blog

[KUALA LUMPUR] Asean’s efforts to enhance trade and digital integration will ensure that more than 70 million small and medium-sized enterprises (SMEs) and micro-SMEs (MSMEs) are not left out, Malaysia’s Investment, Trade and Industry Minister Zafrul Aziz said on Tuesday (Mar 11).

Speaking at the UK-Asean Business Forum in London, Zafrul expressed optimism about finalising the Digital Economy Framework Agreement (DEFA) by September or October this year, aiming for implementation by 2026.

“The numbers are significant. If we can get this started by 2026, we’re looking at US$2 trillion of trade using e-commerce by 2030,” he said.

Zafrul noted that digital transformation will also be a priority for Asean, with a strong push for the adoption of e-commerce, fintech, artificial intelligence and cybersecurity.

However, he stressed that beyond digital integration, logistical and regulatory alignment – including customs and payment gateways – must also be addressed.