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The Business Station
Germany & Malaysia Building Better Ties For Trade And Education
23 mins·08:00, 27 May 2021
Germany & Malaysia Building Better Ties For Trade And Education
23 mins
·
08:00, 27 May 2021
·
Recommended
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From vehicles to electrical products and pharmaceuticals, Malaysia continues to be Germany’s largest trading partner in the ASEAN region, with total bilateral trade of about RM70 billion in 2019. But what more can be done to enhance our bilateral relationship especially in a time of Covid-19? We speak to the German ambassador to Malaysia, Dr Peter Blomeyer to discuss.
Presenter: Wong Shou Ning
Producer: Sim Wie Boon
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Events · May 13 · 4:01AM
ASEAN Gateway To Cross Border Payments
Events · May 13
ASEAN Gateway To Cross Border Payments
ASEAN’s digital payments sector is experiencing rapid growth, fueled by increasing smartphone use, fintech innovation, and a booming e-commerce landscape. Key markets like Indonesia, Vietnam, and the Philippines are leading the way, with major opportunities in digitizing MSMEs and expanding rural financial access. Consumers are shifting toward mobile-first behavior, embracing e-wallets, mobile banking, and digital banks that offer greater convenience and accessibility. ASEAN central banks are strengthening cooperation to enhance payment linkages through QR code integration and shared standards. A major initiative, Project Nexus, aims to make cross-border payments faster, cheaper, and more seamless, though challenges remain in aligning regulations and infrastructure. As digital transactions surge, cybersecurity becomes critical, with the need to protect users without disrupting the payment experience. Importantly, digital finance is helping bank the unbanked, especially in rural areas, where mobile money and fintech tools are providing people with their first access to formal financial services.How can ASEAN ensure inclusive growth as digital payments continue to expand?
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