Energy security and safeguarding ASEAN’s food supply—amid the conflict in the Middle East that has exposed the region to global economic instability—dominated discussions among ASEAN trade ministers during their meeting in Manila.
In a joint statement released Friday at the conclusion of the 32nd ASEAN Economic Ministers Retreat in Bonifacio Global City, Taguig, the ministers stressed that tensions in the Middle East have made it more compelling to reaffirm their commitment to ASEAN Centrality. They also recognized the need for continued regional coordination, vigilance, and policy preparedness amid a challenging global environment.
Foremost, the trade ministers underscored the close link between energy markets and economic stability. With the region highly exposed to global oil and liquefied natural gas (LNG) markets, the ministers agreed on the importance of strengthening regional energy security and resilience.
The ministers called for continued collaboration to advance ASEAN’s existing energy cooperation frameworks, including the ASEAN Framework Agreement on Petroleum Security (APSA), the ASEAN Power Grid (APG) Enhanced Memorandum of Understanding, and the Trans-ASEAN Gas Pipeline (TAGP). These initiatives aim to ensure stable, secure, sustainable, and resilient energy connectivity and supply across the region.
They highlighted the need to enhance regional cooperation on energy preparedness and reserves, including with ASEAN Dialogue Partners, while accelerating the transition to renewable energy and the development of alternative energy sources.
Given ASEAN’s exposure to global oil supply routes and developments in international energy markets, the ministers also emphasized the need to manage energy consumption and diversify energy sources and supply routes, particularly through biofuels and renewable energy.
On food, the ministers stressed the need to safeguard food security, noting that volatile energy and transportation costs could affect agriculture and food production, fertilizer availability, and food distribution systems.
“We commit to fully implement relevant ASEAN economic agreements to minimize disruptions in regional food supply chains, ensure that markets are kept open, and strive to reduce excessive price volatility, particularly price spikes. We emphasized the importance of increasing productivity, diversifying sources of agriculture and food products and inputs, promoting sustainable, climate-resilient, and regenerative agricultural practices, and strengthening regional cooperation on supply chains for food and agriculture,” the statement read.
Amid prolonged global trade uncertainties, including the rise of unilateral measures, the trade ministers also said they are closely monitoring the recently launched Section 301 investigations by the United States, which affect most ASEAN member states. The ASEAN trade chiefs vowed to engage proactively to ensure that the investigation is consistent with international trade rules.
