ASEAN economic ministers on Friday expressed concern over the war in the Middle East and called for an end to the conflict given its repercussions on energy prices, supply chains and overall growth.
The officials, who were meeting in the Philippines, also aired worries regarding global trade uncertainties, particularly Section 301 investigations launched by the United States against most of the bloc’s members.
“A prolonged period of geopolitical instability could pose sustained challenges to the global economic outlook, which has already been battered by multiple headwinds in recent years,” they said in a statement.
“It will also impact economic security and stability, the livelihoods of millions of people in the region, and hinder economic progress in Asean.”
Oil prices have surged in the days after the US and Israel attacked Iran, which retaliated by striking targets across the Middle East. While US President Donald Trump has claimed that the war was essentially over, Iran on Thursday ramped up the conflict by attacking ships in the Gulf.
The Asean economic ministers said they were joining the foreign affairs counterparts in calling for diplomatic and peaceful efforts to resolve the conflict.
They reiterated commitments to keep the Asean market open for trade and investment, stressed the need to safeguard food security and called for the strengthening of the bloc’s energy cooperation agreements.
Philippine Trade Secretary Cristina Roque, who spoke at the start of the meeting, said the conflict in the Middle East underscored how deeply interconnected the global economy had become, with geopolitical tensions triggering immediate economic shocks.
She said the goal was to strengthen regional resilience and deepen integration so the Southeast Asian bloc can navigate global shifts with coordination and foresight, rather than merely reacting to them.
WITH A REPORT FROM REUTERS