At a conference that took place on Friday, the leaders of Southeast Asia emphasized the urgent need to coordinate their response to the repercussions of the crisis in the Middle East. This is because they are attempting to alleviate the pressure that has been caused by an energy shock that has shaken their economies that are dependent on oil imports.
A meeting of the leaders of the Association of Southeast Asian Nations took place on the island of Cebu in the Philippines. The purpose of the meeting was to call for a unified approach to secure energy and food security, as well as to prevent future crises in a region that is particularly vulnerable to a blockage of the Strait of Hormuz that has lasted for almost seventy days.
The President of the Philippines, Ferdinand Marcos Jr., who is also the chair of the Association of Southeast Asian Nations (ASEAN), stated that the aftermath of the war in Iran had caused a domino effect of disruption and brought attention to the necessity of “foresight, coordination, and concrete and collective action.”
“The recent crisis is a stark reminder of how vulnerable our economies remain to sudden shifts in the international order and consequently, the global economy,” he said during a retreat of the leaders. “The global economy is a direct result of the recent crisis.” It will take years to rectify the disruptions that have occurred over the course of a few weeks.”
On Thursday, economic ministers from ASEAN “identified practical, concrete response measures” to maintain energy and food security, according to a statement. However, the recommendations did not include any precise details.
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