ASEAN states in resilience vow

ASEAN member states are to further rivet their trade and investment flows in the region where non-tariff barriers are set to be trimmed, in which Vietnam is strengthening links with regional peers. Thanh Thanh reports.

- Thanh Thanh reports.

Over the past couple of weeks, authorised agencies of all ASEAN member states have been rolling up their sleeves to organise a response on strengthening the bloc's economic resilience in response to recent global economic and geopolitical developments.

It is expected that the Philippines, the ASEAN Chair for 2026, will organise a number of meetings with representatives from member states in April before holding the 48th ASEAN Summit and related summits in Cebu on May 8-9.

One of the most important discussions will be finding ways for ASEAN to increase intra-bloc cooperation in trade, investment, and energy security, among others.

The initiatives come amid the existing concern over rising geographical tensions and military conflicts, besides global trade tensions and growing uncertainties in the international economic landscape. This is particularly so with unilateral actions relating to tariffs, which ASEAN member states call "counterproductive" and which risk exacerbating global economic fragmentation and pose complex challenges to ASEAN's economic stability and growth.

On March 13, the ASEAN economic ministers met at the 32nd ASEAN Economic Ministers' Retreat in Taguig of the Philippines, and exchanged views on the evolving global and regional situation including the tension in the Middle East and its potential implications for the ASEAN region and global economy.

"We expressed deep concern over the continued tensions in the Middle East. The escalating conflict has generated broader economic repercussions beyond the region, particularly through heightened volatility in global energy markets and disruption of key maritime and supply chain routes, bringing about uncertainty and significant challenges to the economy, businesses and global trading dynamics," read the joint statement published on the same day.