Makati city: The Philippines' hosting of the Association of Southeast Asian Nations (ASEAN) Summit, held twice annually, is crucial for advancing the agenda of greater trade and peace within and beyond the region, a public policy analyst stated on Tuesday.

According to Philippines News Agency, Stratbase ADRI President Dindo Manhit emphasized in a forum in Makati City that the Summit provides a platform for countries to collaborate, potentially boosting trade and investment partnerships not only within ASEAN but particularly for the host nation, the Philippines. Manhit highlighted the importance of the Philippines fulfilling its commitments as the designated ASEAN chair and projecting its leadership role during the Summit.

Manhit further noted the diplomatic value of hosting such events, as they bring together leaders not only from ASEAN but also its global partners. He suggested that these summits could serve as a platform for advocating peaceful resolutions to conflicts, particularly in the Middle East, by emphasizing respect for international rules, sovereignty, and democratic principles.

In light of recent discussions, Senate President Vicente Sotto III and Senate Pro Tempore Panfilo Lacson expressed support for studying a proposal to postpone the Philippines' hosting of this year's ASEAN summits. The proposal, initially raised by former Finance Secretary Gary Teves, suggested that deferring the hosting duties could potentially save the country approximately PHP17 billion, which could be reallocated as subsidies to mitigate the economic impact of the Middle East conflict.