At a summit on Friday, leaders of Southeast Asian nations are anticipated to devise a coordinated response to the effects of the Middle East crisis in an effort to relieve pressure from the energy shock that has rocked their economies that depend on oil imports.
Leaders of the Association of Southeast Asian Nations are due to meet on the Philippine island of Cebu and advocate for a coordinated approach to guarantee food and energy security in an area that is especially vulnerable to a nearly 70-day blockade of the vital Strait of Hormuz.
As ASEAN's chair, Philippine President Ferdinand Marcos Jr. stated in his introductory remarks that while ASEAN was united to show its ability to respond with unity and resolution, it also needed to be flexible."We need to guarantee resilience and energy security in the region," he stated.
DIFFICULTY IN COORDINATION
According to a chair statement, ASEAN economic ministers convened in Cebu on Thursday and "identified practical, concrete response measures" to guarantee food and energy security. However, the ideas were vague.
They included creating a crisis communication protocol and diversifying suppliers and routes, but it was unclear what, if anything, could be done.
The Philippines, one of the first nations in the world to declare an energy emergency, has pushed for approval of a voluntary, commercial-based ASEAN oil-sharing framework agreement. The region, which has a population of almost 700 million and economies worth a combined $3.8 trillion, faces serious risks from the aftermath of the Iran war.
However, ASEAN still faces significant coordination challenges.
A negotiated settlement between the United States and Iran as well as the reopening of the Strait of Hormuz, which served as a route for roughly 130 ships per day and a fifth of the world's oil and gas supply before the conflict, are anticipated to be called for by the ASEAN leaders during their retreat on Friday.
According to a working copy of a statement seen by Reuters on Thursday, leaders would push ASEAN countries to finish the domestic procedures necessary to approve a fuel-sharing agreement, guaranteeing its "earliest possible entry into force".
PEACE PROGRAMS
Even while the war has dominated discussions in Cebu thus far, there was movement in other areas on Thursday. Marcos called a meeting with the presidents of Thailand and Cambodia under a shaky ceasefire, which led to an agreement to resume interaction following two rounds of deadly border combat last year.
Additionally, foreign ministers decided to meet virtually with their counterpart from Myanmar, which is keen to restore relations with ASEAN and permit its leadership to attend its summits after a ban was imposed after a military coup in 2021 sparked widespread protests that turned into civil war.The group has long been split by the issue in Myanmar; some members want to work with a new, ostensibly civilian government headed by former junta chief Min Aung Hlaing, who recently took office as president following a biased election won by a pro-military party.