Taugig city: The 11-member Association of Southeast Asian Nations (ASEAN) needs to prioritize resilience as its core strategy to navigate a volatile global landscape, Trade and Industry Secretary Ma. Cristina Roque said. In her speech on the opening of the 32nd ASEAN Economic Ministers' (AEM) Retreat in a hotel in Taguig City Friday, Roque emphasized the importance of adapting to the current economic and geopolitical challenges.
According to Philippines News Agency, Roque highlighted that each AEM Retreat has its own character, with some marked by milestones and others by difficult but necessary truths. She stressed the need for ASEAN to embrace both in the current year, citing ongoing developments in the Middle East as a reminder of the region's interconnectedness. Roque noted that geopolitical tensions are no longer distant headlines but immediate economic shocks affecting energy markets, shipping lanes, and investor confidence. Therefore, resilience has become a primary shield for ASEAN.
Roque further explained that the regional bloc continues to push for an open market, but the current landscape requires that this openness be supported by coordination and foresight. This is why the transition of the ASEAN Geoeconomics Task Force into the ASEAN Geoeconomic Group is critical. Alongside the High-Level Task Force on Economic Integration, this group will ensure that ASEAN is proactively navigating global shifts rather than merely reacting to them.
ASEAN, being the fifth largest economy in the world with a population of around 680 million and a combined annual output of approximately USD3.95 trillion in 2024, is poised to become the fourth largest in the near future. Member countries are working to ensure that all capacities remain robust to support this growth trajectory.
During the AEM Retreat, Roque mentioned that representatives from the Philippines will present their Priority Economic Deliverables for the 2026 ASEAN Chairship. These initiatives are designed to strengthen regional resilience, support innovation, and deepen economic integration across the region to create opportunities for businesses, workers, and communities.
Central to these initiatives is the ASEAN Digital Economic Framework Agreement (DEFA), described as the region's most ambitious undertaking. When completed, DEFA will form the most comprehensive framework for digital trade and the digital economy in the region. Last Wednesday, Marie Sherylyn Aquia, Director of the Department of Trade and Industry-Bureau of International Trade Relations (BITR), stated that part of the DEFA negotiations involves ensuring clarity and consistency of agreed provisions, with a review by experts before its expected signing in November at the ASEAN Summit sidelines.
