The 15th Asian Business Summit (ABS) was hosted by the Singapore Business Federation (SBF), and co-organised by the Japan Business Federation (KEIDANREN) on 30 July 2026 at Resorts World Convention Centre, Sentosa, Singapore with 11 Asian economic organisations from countries in Asia in attendance. The 15th ABS was organised with the theme, “Asia’s Next Growth Chapter: Digital, Green and Connected Futures”.
Group photo of the ABS leaders and heads of delegations with Guest-of-Honor, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, who delivered a Keynote Address titled “Asia in Transition: Building Resilient, Inclusive and Sustainable Growth”.
Malaysia’s delegation comprise Mr Gary Tang, Hon. Secretary, MAJECA and Dr Goh Peng Ooi, Hon. Treasurer, MAJECA, who were accompanied by Ms Ng Su Fun, Executive Secretary, MAJECA and Mr Samuel Loh, Programme Executive, MAJECA.
The 15th Asian Business Summit Joint Statement
(via: https://www.keidanren.or.jp/en/policy/2026/042.html) is quoted below:
The 11 economic organizations gathered in Singapore for the 15th Asian Business Summit on July 30, 2026, under the theme “Asia’s Next Growth Chapter: Digital, Green and Connected Futures”.
Uncertainty in the international environment has further increased against a backdrop of persistent protectionism and unilateralism, as well as instability in the Middle East. The rules-based, free and open international economic order and the broad and highly integrated supply chains that have underpinned Asian growth are facing significant challenges.
At the same time, in addition to climate change—an issue shared across Asia—the rapid evolution and widespread adoption of AI are bringing about discontinuous and unpredictable change in economic and social systems, along with new risks, thereby making it increasingly important to address these challenges.
We, the 11 economic organizations gathered at the summit, agreed to deepen cooperation toward sustainable prosperity in Asia, focusing on the following areas: (1) enhancing supply chain resilience and stability in Asia; (2) maintaining and strengthening the rules-based, free and open international economic order; (3) enhancing competitiveness through digital and AI-driven innovation; and (4) promoting initiatives toward achieving carbon neutrality.
In advancing these objectives, it is essential to continuously cultivate and develop talent in Asia that will drive regional competitiveness. To this end, it is of critical importance that the business communities of Asia work in closer coordination to further promote the exchange and development of human resources across the region.
1. Enhancing Supply Chain Resilience and Stability in Asia
Developments in the Middle East since February this year have led to global supply uncertainties and price increases in energy and resource markets, including for crude oil. These impacts have been especially pronounced in Asian countries and regions that rely heavily on imports from the Gulf states for the bulk of their energy supply, bringing vulnerabilities in supply chains into sharp relief.
Furthermore, industries in Asian countries and regions are closely interlinked through supply chains. Should disruptions to energy supply occur in any country or region, the impacts would propagate throughout the supply chain to the entire region. Given that Asia serves as a central hub of global supply chains, any stagnation or disruption in these supply chains could have significant impacts on the global economy.
Against this backdrop, the resilience and stability of supply chains in Asia should be enhanced through multiple cooperative frameworks including the Partnership On Wide Energy and Resources Resilience Asia (POWERR Asia),the Asia Zero Emission Community (AZEC) and other multilateral energy and climate mechanisms, so as to reinforce stable energy supply systems, including the development of petroleum stockpiling systems.
In addition, it is important to promote the diversification of energy sources through the increased utilization of LNG and the expansion of renewable energy, as well as the diffusion of energy-efficient technologies and other innovative solutions, thereby contributing to the sustainable development of regional economies.
Furthermore, given that small and medium-sized enterprises (SMEs) form the backbone of Asian economies and are often the most exposed to energy price volatility and supply chain disruption, it is important to ensure that SMEs can fully participate in and benefit from efforts to strengthen the resilience of regional supply chains.
2. Maintaining and Strengthening the Rules-Based, Free and Open International Economic Order
Asia has established global supply chains and achieved economic growth by deepening regional economic integration through Economic Partnership Agreements (EPAs), Free Trade Agreements (FTAs), and the Regional Comprehensive Economic Partnership (RCEP). To realize sustainable growth in Asia, it is essential to further develop and expand these trade frameworks and reinforce the economic foundations in the region. Such efforts will also contribute to build an open, dynamic, resilient, and peaceful Asian community.
The Regional Comprehensive Economic Partnership (RCEP) is a large-scale FTA that accounts for approximately 30 percent of the world’s GDP, total trade, and population, and it plays a key role in strengthening supply chain resilience. In preparation for the General Review scheduled in 2027, efforts should be made to expand product coverage and accelerate the implementation timeline for tariff reduction, and to prevent trade-distortive measures.
With regard to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), membership should be expanded premised on the three principles. These comprise (1) meeting the high standards of the Agreement, (2) having a demonstrated pattern of complying with trade commitments, and (3) being admitted to the CPTPP by consensus among the current Members. At the same time, it is necessary to enhance the Agreement’s rules and strengthen cooperation with both ASEAN and the European Union.
The WTO-centered multilateral trading system remains key to maintaining and strengthening the rules-based, free and open international economic order, and WTO reform is therefore essential. More specifically, in addition to restoring dispute settlement mechanisms, it is essential to ensure a level playing field and incorporate the Agreement on Electronic Commerce as well as the Agreement on Investment Facilitation for Development into the WTO legal framework at an early stage.
3. Enhancing Competitiveness through Digital and AI Innovation
The utilization of digital technologies and AI is indispensable for improving productivity, creating new value and strengthening industrial competitiveness in Asia. In recent years, AI technologies such as generative AI, AI agents and physical AI have advanced significantly, and the application of AI in the scientific community (AI for Science) is also progressing rapidly. At the same time, new threats, such as increasingly sophisticated cyberattacks, are emerging, making it necessary for Asian countries and regions to cooperate in building a safe, secure, and trustworthy AI ecosystem under relevant international frameworks. In doing so, efforts to enhance AI governance are required under the principle of “human-centered AI,” while avoiding excessive regulation that could hinder innovation.
Moreover, the foundation for AI development lies in the accumulation and analysis of vast amounts of data, for which cross-border data flows are indispensable. To this end, it is important to continue cooperation to facilitate cross-border data flows, strengthen business and consumer trust in digital transactions, and ensure data protection and privacy. At the same time, efforts should be strengthened to develop internationally interoperable rules, and make the moratorium on customs duties for electronic transmissions permanent.
4. Promoting Initiatives Toward Achieving Carbon Neutrality
Asia accounts for approximately half of global greenhouse gas emissions and plays a critical role in achieving global carbon neutrality. At the same time, electricity demand is expected to increase significantly due to rapid population growth and advances in digital technologies and AI, making it necessary to secure a stable and cost-effective energy supply. In this context, it is essential for Asia to simultaneously achieve decarbonization, economic growth, and energy security.
To address these challenges, it is important to promote realistic and diverse transition pathways that take into account the circumstances of each country and region. Making use of frameworks such as AZEC, policy coordination should be strengthened, and efforts made to further accelerate the development and implementation of country- and region-specific projects, such as projects utilizing LNG, hydrogen, ammonia and biofuel, or those expanding deployment of renewable energy.
In addition, efforts are required to realize a circular economy in Asia. By advancing institutional frameworks for proper waste management and recycling, countries and regions in Asia should aim both to address environmental challenges—including decarbonization and efficient resource utilization—and to ensure stable resource supply and more resilient supply chains.
• Courtesy Call on Prime Minister Lawrence Wong on 29 July 2026
On 29 July 2026, a Courtesy Call by the heads of delegation to the ABS on Prime Minister Lawrence Wong was held at The Istana. Mr Gary Tang, in his capacity as Head of the Malaysian delegation attended this meeting.
Credit: Ministry of Digital Development and Information (MDDI)
A social media post by Prime Minister Lawrence Wong can be found here: https://www.instagram.com/p/DbX_Fi4j_ke/?img_index=2&igsh=Nm0wdGFoNGZ0ZnVx
• 15th Asian Business Summit on 30 July 2026 at Resorts World Convention Centre, Sentosa
Dr Goh Peng Ooi, Hon. Treasurer, MAJECA and President, AI Malaysia delivered his presentation at Plenary Session 3: “Creating Digital Asia – Interoperable, Trusted and Inclusive Digital Economy”.
Mr Gary Tang, Hon. Secretary, MAJECA delivered remarks at the Handover Ceremony for MAJECA / Malaysia to host the 16th Asian Business Summit in Kuala Lumpur in 2027.
Photo Gallery:
Credit: Singapore Business Federation & MAJECA
MAJECA 