ASEAN Economic Ministers Retreat Endorses PH Economic Deliverables

Taguig city: Department of Trade and Industry (DTI) Secretary and Association of Southeast Asian Nations (ASEAN) Economic Ministers (AEM) Chair Ma. Cristina Roque announced that the AEM Retreat has endorsed the Philippines' priority economic deliverables. "The retreat endorsed the Philippines' priority economic deliverables, covering semiconductors, critical minerals, creative industries, and AI (artificial intelligence), and this is aimed at strengthening ASEAN's investment appeal and regional resilience," Roque stated during a briefing.

According to Philippines News Agency, the endorsement is a significant step in positioning the Philippines to set priorities, advance initiatives aligned with national interests, and enhance its visibility and influence in ASEAN discussions. The Philippine Priority Economic Deliverables (PEDs) encompass a wide range of trade areas such as energy, agriculture, strategic trade management, micro, small and medium enterprises, AI, and efforts to advance a sustainable and green agenda within ASEAN.

Roque highlighted the importance of these discussions, noting, "We really were able to discuss a lot of items that are quiet, that are relevant to ASEAN." She further mentioned that the Economic Ministers consulted with the ASEAN Business Advisory Council, welcoming its theme "Prosperity for All," which underscores the need for ASEAN initiatives to deliver tangible benefits for people and businesses.

Additionally, the ministers addressed how member countries can navigate the ongoing Middle East conflict and mitigate its economic impacts.