Cebu: A Department of Trade and Industry (DTI) official on Wednesday underscored the need for closer regional integration to protect economies amid global uncertainties. Trade Undersecretary Allan Gepty, during a briefing at the International Media Center in Cebu for the 48th Association of Southeast Asian Nations (ASEAN) Summit, said "national responses alone are not sufficient."
According to Philippines News Agency, Gepty emphasized the importance of strengthening regional coordination in areas such as energy security, food security, logistics, and supply chain resilience. He stated, "A more integrated ASEAN is not just an aspiration; it is a necessity." Gepty highlighted the benefits of integration, noting that it has expanded opportunities for businesses, farmers, and micro, small, and medium enterprises (MSMEs) within the 11-member regional bloc.
Gepty pointed out that regional cooperation allows people to access a wide range of goods through trade and facilitates ease in travel, work, and business across neighboring countries while creating more job opportunities from investments within Southeast Asia. He stressed that these measures are practical advantages derived from regional cooperation, rather than abstract concepts.
The DTI official further explained that ASEAN's role becomes more crucial during crises, such as the ongoing conflict in the Middle East. He noted that ASEAN provides a platform for stability when energy prices rise, supply chains tighten, and inflationary pressures build.
Gepty also highlighted the strategic significance of holding the summit in Cebu, given the province's role as a logistics and economic hub. By enhancing its position as a gateway for commerce and services, Cebu can help maintain efficient supply chains and ensure continuous economic activities despite external disruptions, thereby reinforcing the Philippines' role as a reliable and proactive partner within ASEAN.