PHL floats 'Asean Geoeconomic Group' concept

SOUTHEAST Asian economies may soon have a more formal platform to navigate global economic shifts, as the Philippines proposed elevating the Association of Southeast Asian Nations' (Asean) geoeconomics task force into a permanent regional body.

- By BLESS AUBREY OGERIO

The Philippines, as Asean chair, is pushing to elevate the Asean Geoeconomics Task Force into a formal unit, to be called the Asean Geoeconomic Group.

"While the Asean region remains the global champions of the open market, the current landscape demands that the openness be backed by coordination and foresight," Trade Secretary Ma. Cristina Roque said in her opening remarks during the 32nd Asean Economic Ministers’ Retreat.

"Alongside the High-Level Task Force on Economic Integration, this body will ensure that we are not just reacting to global shifts—we are navigating them together."