.jpg)
1 hour ago
3
Article content
(Bloomberg) — Southeast Asian leaders are gathering in the Philippines for an annual summit, seeking to bolster economic cooperation and shore up regional resilience as countries grapple with an energy shock tied to the US-led war in Iran.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The 11-member bloc known as the Association of Southeast Asian Nations aim to present a unified response to its mounting energy needs as members face rising costs and supply disruptions. Leaders are also expected to address security flashpoints from the South China Sea to Myanmar’s civil war and tensions along the Thai-Cambodia border.
Article content
Article content
Article content
“Taking stock of our experience, our discussions have pointed out that Asean needs to strengthen crisis coordination and institutional readiness,” Philippine Foreign Affairs Secretary Ma. Theresa Lazaro said as she opened ministerial meetings in Cebu. “As we convene today, we do so at a particularly consequential moment for our region.”
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The region imports about 66% of its crude, she said, with the Iran conflict driving up food and fuel prices and weighing on key sectors such as transportation, tourism and migrant work in the Middle East.
Article content
The Philippines is pushing for a leaders’ statement on the Middle East crisis to improve coordination in future emergencies, Asean spokesperson Dominic Xavier Imperial said. Manila will also seek endorsement of a declaration on maritime cooperation as it navigates tensions with China.
Article content
The summit coincides with large-scale military drills in the Philippines involving the US, Japan, Australia and other partners, including live-fire and maritime exercises near flashpoints such as the South China Sea and Taiwan Strait.
Article content
The host nation has urged members to avoid trade restrictions and keep goods flowing to ease supply strains, while proposing a mechanism to share fuel reserves during crises — a step analysts say may be difficult to enforce.
Article content
“As the crisis deepens, member states will continue to prioritize domestic interests over regional commitments,” said Joycee Teodoro, Southeast Asia senior analyst at Control Risks, citing Thailand’s move to suspend oil exports except to Laos and Myanmar.
Article content
English (US)