Manila: Economic ministers from Southeast Asian nations have unveiled proposed measures to strengthen regional trade, supply chain resilience, and coordinated response to external shocks.
According to Philippines News Agency, the Philippines, represented by Trade Secretary Ma. Cristina Roque, convened the ASEAN Economic Community Council on Thursday to discuss the economic implications of the ongoing Middle East crisis. A joint statement released on Friday emphasized the critical importance of maintaining stable, secure, sustainable, and resilient global supply chains and maritime trade routes, particularly for essential goods and services.
The ministers expressed their commitment to strengthening intra-ASEAN trade and supply chain connectivity through improved logistics coordination, timely information sharing, and continuous consultations. They agreed to avoid unnecessary non-tariff measures during a crisis while ensuring trade infrastructure such as land borders, airports, and seaports remain open where possible.
Furthermore, the ministers supported the swift ratification and timely entry into force by 2026 of the Second Protocol to Amend the ASEAN Trade in Goods Agreement. This protocol is designed to upgrade the original agreement to improve trade facilitation, dispute settlement, and transparency within the region.
The ministers highlighted the escalating impacts of the Middle East crisis on global energy markets, food security, and transport, which are increasingly affecting businesses across Southeast Asia, particularly micro, small, and medium enterprises. They noted that it might be necessary for ASEAN member states to implement emergency measures to address these challenges. However, these measures should be targeted, proportionate, transparent, temporary, and should not create unnecessary barriers to trade, remaining consistent with World Trade Organization and ASEAN rules.
The ministers plan to submit the meeting's outcome and key recommendations on regional preparedness to the ASEAN leaders at the 48th ASEAN Summit in Cebu on May 8.
Meanwhile, the ASEAN National Organizing Council (NOC) announced that all preparations are set for the summit proper. ASEAN NOC Director-General Ma. Hellen De La Vega and Presidential Communications Office Acting Secretary Dave Gomez will hold an initial press conference and provide an overview of the summit at the formal opening of the International Media Center on May 5. The IMC anticipates hosting an estimated 800 to 1,000 local and international media personnel to cover the high-level meetings.
