Manila: President Ferdinand R. Marcos Jr. on Friday cautioned Southeast Asian leaders about the prolonged repercussions of ongoing geopolitical conflicts and global economic disruptions, emphasizing that their effects will persist for years, even after tensions subside. Addressing the Retreat session of the 48th Association of Southeast Asian Nations (ASEAN) Summit, Marcos highlighted the vulnerability of ASEAN nations to external shocks, specifically those impacting oil supply chains, trade, and global markets.
According to Philippines News Agency, Marcos acknowledged the varied immediate impact across ASEAN countries but stressed the unavoidable long-term consequences of these disruptions. He noted that, despite potential de-escalation of tensions, the damage to critical infrastructure and vital systems, as well as a general erosion of trust, will continue to resonate in the future.
ASEAN leaders took part in the customary family photo before engaging in closed-door retreat discussions. These discussions were concentrated on regional energy security, food stability, and the insights gained from recent geopolitical crises. Marcos pointed out the ripple effects of instability stretching beyond Southeast Asia, citing the ongoing conflict in the Middle East as a significant disruptor of oil supply routes and a factor affecting global prices.
Marcos elaborated on the domino effect of oil supply disruptions across various sectors, impacting business operations, workforce dynamics, and everyday living conditions. He acknowledged that ASEAN had predicted many of these risks through the ASEAN Community Vision 2045, which outlined supply chain disruptions, resource security issues, and major power rivalries as long-term regional challenges.
He urged ASEAN leaders to transition from immediate crisis responses towards strategies that strengthen institutions, enhance coordination, and implement concrete regional action plans. These efforts aim to prevent future shocks from escalating into more severe crises. Marcos highlighted the recent crisis as a stark reminder of the vulnerability of regional economies to sudden changes in the international order and global economy.
Under the Philippine chairship, ASEAN has embraced the 'LEAD-SAIL-RISE' framework, which focuses on bolstering political-security cooperation, economic integration, and people-centered development across the region. The retreat discussions emphasized ASEAN's capacity to manage oil supply disruptions and the lessons learned from recent geopolitical crises affecting the global economy and regional stability.
