ASEAN business council chairman says connectivity, cooperation will boost growth

Chairman of the ASEAN Business Advisory Council (ASEAN-BAC) Nazir Razak told China Global Television Network (CGTN) that regional cooperation and connectivity would boost further economic growth in Asia and across the globe, despite economic headwinds in the world economy.

The 46th Association of Southeast Asian Nations (ASEAN) Summit opened on Monday in Kuala Lumpur, the capital of Malaysia, with greater regional integration and resilience against trade and economic disruptions high on the agenda.

Malaysia served as the chair of the ASEAN for 2025 and hosted the ASEAN Summit and related summits under the theme "Inclusivity and Sustainability."

Razak said that Malaysia has outlined a clear, strategic plan to mitigate the impact of tariffs and other economic shocks and safeguard its economic interests.

"Malaysia is doing four things. One is to negotiate for the right tariff levels. Two is we're looking at ways that we can help our weaker companies, our SMEs (small and medium-sized enterprises), MSMEs (micro, small and medium-sized enterprises), cope with this. Thirdly, we need to look within the region and strengthen our ties within the ASEAN region. And of course, fourthly is strengthen our business ties with other parts of the world, including China, India, GCC (Gulf Cooperation Council), and even further afield to the other sort of countries of the South," he said.

On May 20, economic and trade ministers from China and ASEAN member states announced the full completion of negotiations on Version 3.0 of the China-ASEAN Free Trade Area (CAFTA), a key step towards signing the CAFTA 3.0 upgrade protocol.

Razak said that Malaysia welcomes bringing regional and bilateral frameworks up to date to align with current realities.

"I think the 3.0 is covering areas that were kind of left out, given how the world has changed since 2.0. I think, it includes areas like digital in a much more significant way. I think of impact, it will definitely be positive. It reflects the quality of our relationship with China that we constantly review the enabling agreements for trade and investment between us," he said.

Alongside the 46th ASEAN Summit, the 2nd ASEAN-GCC Summit and the ASEAN-GCC-China Summit also took place in the Kuala Lumpur, emphasizing the region's collaborative ambitions.

Razak said that building on the evolving trade frameworks shows a growing recognition of untapped potential within key regional corridors, which calls for both innovative entrepreneurial ideas and proactive government support to fully harness opportunities.

"When you look at the numbers, clearly, there's still so much more to do, particularly within the ASEAN-GCC Corridor, and to some extent, the China-GCC Corridor. There's a lot to do. Need is the mother of invention. When you had the huge U.S. market, we probably didn't spend enough time on these opportunities. Between the three regions, I think we need to look at specific opportunities, for instance in the Halal food area and the food security area. These kind of ideas, entrepreneurs need to come up with the ideas, and governments need to come up to enable them to happen," he said.

ASEAN business council chairman says connectivity, cooperation will boost growth

The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.

In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.

"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.

Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.

The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."

Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.

President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.

Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.

Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.

The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.

Iranian president says government focusing on ensuring supplies amid protests