Singapore to push for deeper ASEAN integration, wider partnerships as bloc chair in 2027: Vivian Balakrishnan

SINGAPORE: Singapore will push for deeper economic integration within the Association of Southeast Asian Nations (ASEAN) and wider partnerships beyond the region when it takes over as chair in 2027, said Foreign Affairs Minister Vivian Balakrishnan on Wednesday (Oct 7).He was responding to a question at the Milken Institute Asia Summit in Singapore, where Dr Balakrishnan was asked what Singapore would consider as a successful ASEAN chairmanship.“If our economy within ASEAN continues to grow, continues to be more and more integrated, and if our respective strengths, say in energy and technology, could really be brought to a complementary where the whole is more than the sum of the parts, we would have succeeded,” he said."The more we can raft our economies, the better it is to cope with high waves and strong winds," said Dr Balakrishnan to an audience of enterprise and business leaders at the Four Seasons Hotel. On ASEAN seeking wider partnerships, he said this would go beyond the 10-member bloc’s traditional dialogue partners, to include regions such as Africa, South America, Pacific Islands and Canada as well in what he described as a “trans-Pacific strategy”.The dialogue was moderated by the chief executive officer of the Milken Institute, Mr Richard Ditizio. The annual event, now in its 13th edition, brought together leaders in business, finance, government, technology and entertainment, with an expected turnout of 1,500 participants from 50 countries. Health Minister Ong Ye Kung will also be speaking on a panel on Thursday with Milken Institute Women's Health Network Jill Biden, who is the former US first lady from 2021 to 2025. During the dialogue, Dr Balakrishnan said that despite the breakdown in trade and disruption in supply chains globally, ASEAN is still seeing significant growth, driven by artificial intelligence, semiconductors, and technology.He cited the high economic growth rates recorded by Vietnam, Singapore and Indonesia, adding that the region still has “great growth potential in the next 20 years”."This is a moment of great potential and peril. This is a moment of great change and volatility," he said.“And if we can thread the needle, and not just for Singapore but for ASEAN as a whole, I think we've got quite a compelling narrative and great potential for ASEAN.”Singapore is already a key node in the global semiconductor supply chain, accounting for about one in 10 chips made worldwide. Last month, VSMC, a joint venture by Taiwanese and Dutch firms, opened an S$8.5 billion wafer fabrication plant in Singapore, as growing demand for semiconductors is fuelled by developments including AI, electrification and industrial automation.During the dialogue, he also addressed the growing US-China rivalry and said Singapore would seek to maintain trust with both powers and "handle our relationships very, very carefully"."As far as we can do so, we will refuse to choose because the moment you choose, in fact, you've lost strategic options," he said. ASEAN is currently chaired by the Philippines on a yearly rotating basis. It is expected to host a summit next month where its conclusion is typically marked by a ceremonial handing over of chairmanship to the next chair.