Asean member states should forge stronger regional cooperation in the steel industry, to accelerate the creation of an Asean integrated market, as well as overall integration.
Malaysia’s Deputy Minister of Investment, Trade and Industry Liew Chin Tong said Asean can cooperate on decarbonisation roadmaps, technology sharing, and pooled procurement to build regional steel alliances.
“So far, Asean member states have been treating investment in the steel industry as private investments, viewing higher foreign investment and higher growth of output and export of steel as positive outcomes.
“But stopping at these goals may lead to a race to the bottom in terms of more capacity and more investments into blast furnaces, hence more carbon emissions and more trade frictions, as well as potentially trade wars, which becomes a vicious cycle,” he said.
Liew said this in his special address at the Asean Policymakers Conference on Steel and the 2025 Asean Iron and Steel Forum on Sustainability and Construction on Monday.
He said this is the time for Asean to adhere to the highest standards, create conditions for clean and green steel, coordinate capacity, and pursue a regional approach to steel production and investment, including finding blended financing together.
“In the changing geoeconomics landscape, Asean has agency, and we should act in concert.
“We need a global coalition for clean and green steel, and I sincerely hope Asean member states could take the lead to build the platform for such cooperation to take place,” he said.
Malaysia’s Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz will launch the Iron and Steel Industry Roadmap later on Monday, Liew added.
Source: Bernama
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
