Melbourne Capital Group was proud to sponsor the recent "Spotlight ASEAN" event at Sunway Resort Hotel in Malaysia, organised by ADX and Perdana Leadership Foundation. The event featured Her Excellency Gloria Macapagal Arroyo, 14th President of the Philippines, who shared her perspectives on "ASEAN in Economic Turbulent Times: What is the Way Ahead?" as part of Malaysia's ASEAN Chairmanship in 2025.
Our Private Wealth Manager, Ben Davis, had the honour of moderating the conversation with Her Excellency; an experience that challenged conventional thinking about regional cooperation.
Beyond Conventional Wisdom
When Ben raised the topic of ASEAN's approach to US tariff negotiations, he anticipated a response centred on collective action and unified strength. Instead, Her Excellency offered a perspective that defied expectations:
"Sometimes it's wiser not to act collectively. Quiet diplomacy can yield better results."
This answer prompted an important follow-up: wouldn't such an approach risk internal competition, with some ASEAN members securing more favourable deals than others?
Understanding ASEAN's Unique Model
Her Excellency's response reframed the entire conversation. ASEAN, she explained, is fundamentally different from the European Union. The region comprises ten diverse nations; democracies, monarchies, and single-party states, with per capita income disparities of up to 50 times between members. There is no common currency, no unified military, and no enforcement mechanisms.
Yet despite these differences, ASEAN continues to function effectively, convening forums like ASEAN+1, ASEAN+3, Regional Comprehensive Economic Partnership (RCEP), and the Regional Forum.
As Her Excellency aptly put it: "It's hard to do anything in Asia without ASEAN there."
Diversity as Durability
The key insight from this conversation is that unity doesn't always require moving in lockstep. Sometimes, it means maintaining dialogue and staying engaged at the table, even when individual interests diverge.
After 58 years, ASEAN's success story isn't about achieving perfection. It's about perseverance and about transforming diversity into a source of durability and strength.
As we navigate increasingly complex economic landscapes, the lessons from ASEAN's approach to regional cooperation become ever more relevant. The ability to balance individual national interests with collective engagement may prove to be one of the region's greatest assets in turbulent times.
Melbourne Capital Group extends its gratitude to ASEAN Development Exchange and Perdana Leadership Foundation for organising this thought-provoking event, and particularly to Mr. Nigel Wong, Mr. Anil Pilay, and Zarina Abu Bakar for the opportunity to participate in this important dialogue.
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