KUALA LUMPUR, January 8 - ASEAN should emerge as a middle-class society and become a large consumer market in the next two decades.

According to the Deputy Minister of Investment, Trade and Industry, Liew Chin Tong, in that direction, ASEAN needs to ensure that its member countries are not involved in low wage competition, tax cuts, or tax exemptions, but instead focus on upholding environmental standards.

"ASEAN needs to avoid a race to the bottom.

"We must ensure that economic development does not sacrifice the environment and ensure that tax revenues are used for the good of the people", he said in his speech at the 2025 ASEAN Economic Leaders Opinion Conference in the capital.

He added that ASEAN member countries need to work together to achieve this goal, especially in the context of the implementation of the Global Minimum Tax (GMT).

The conference brought together over 200 local and 40 international participants, discussing regional economic challenges as well as ASEAN's future opportunities.

Among the main issues discussed include efforts to build a more resilient regional supply chain, maintain ASEAN's role as a middle power, and enhance the sustainable development agenda.