DPM Gan: Singapore must advance ASEAN integration and keep bloc ‘open for business’ as next year’s chair

Green economy framework proposed; power grid memorandum formalised

ASEAN is also considering a proposed Green Economy Framework Agreement (GEFA) to identify areas in which member states can advance cooperation. Ministers received a briefing on a feasibility study at Saturday’s meeting, with encouraging preliminary findings.

DPM Gan said ASEAN member states had differing concerns about sustainability and the green economy. “We hope to be able to finish the feasibility study as soon as possible and advance discussions next year, embarking on a scoping exercise to identify the areas we want to focus on. We will then begin to negotiate a potential green economy framework agreement.”

On energy cooperation, the Ministry of Energy, Trade and Industry said in a statement that the enhanced memorandum of understanding on the ASEAN Power Grid (APG) had also been formally established. Regional power grid cooperation will shift its focus from commitments to implementation, advancing cross-border electricity connections.

ASEAN will also continue to deepen existing partnerships and expand external cooperation. The Canadian Prime Minister’s Office said in a statement on Saturday that negotiations on a free trade agreement (FTA) with ASEAN had been substantially concluded, with the aim of signing it in 2027.

DPM Gan said ASEAN was also reviewing and preparing to upgrade its free trade agreements with South Korea and India. Besides working with individual countries, ASEAN is exploring how to strengthen ties with the EU, the Gulf Cooperation Council and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“We are also discussing several other potential FTAs and negotiation with our partners. I think in time to come, we’ll see ASEAN playing an even more important role in the regional economy as well as with our partners.”

Singapore will take over the rotating ASEAN chairmanship next year, which marks the bloc’s 60th anniversary. Gan said the economic progress made during the Philippines’ chairmanship was encouraging and had laid the groundwork for Singapore to continue deepening regional cooperation.