Manila, Philippines – Senior Economic Officials of the Association of Southeast Asian Nations (ASEAN) emphasized the important role of the Geo-Economic Group, amid the emerging and changing geopolitical tensions in various regions in the country during the 32nd ASEAN Economic Ministers Retreat
Trade Secretary Maria Cristina Roque emphasized that the transition of the ASEAN geo-political economic task force to the Geo-economic group has also brought about growth, making economic integration a priority for countries in the region.
DTI Undersecretary Allan Gepty said that the AEM’s retreat is timely as the world economy faces increasing and complex challenges such as geopolitical tensions, climate risk, supply chain disruptions, technological transformation, and including conflict in the Middle East.
The ongoing conflict in the Gulf nation, prompting the looming oil crisis caused by the war, poses a major threat to the security of the global economy.
The AEM’s retreat includes robust and important discussions that are timely in the midst of challenges.
The Economic Ministers meeting is also expected to discuss priority economic deliverables (PEDs), strengthening regional resilience, and creating more opportunities for workers and communities.
ASEAN has an important role to play when it comes to the digital economic framework, particularly in digital trade and the digital economy.
In the conclusion of the AEM’s retreat, Roque acknowledged the important contribution of each ASEAN state to solidarity, by keeping communication open in the midst of global conflicts.—Alvin Pelobello, Eurotv News