ASEAN must stay resilient amid geopolitical tensions: Minister Santoso

Jakarta (ANTARA) -

Trade Minister Budi Santoso stated that ASEAN must remain open and resilient amid growing global uncertainty caused by geopolitical dynamics and disruptions to global supply chains.

During the Joint ASEAN Foreign and Economic Ministers Meeting (AMM-AEM Meeting) in Cebu on Wednesday (May 6), he said that coordination between ASEAN’s economic and political pillars is crucial to ensuring the region can respond swiftly, effectively, and collectively to various global shocks.

"ASEAN must be able to demonstrate the business and international community that the region remains open, resilient, and capable of maintaining trade and supply chain stability amid global geopolitical uncertainty," Santoso remarked in a statement on Friday.

The meeting also discussed global and regional economic outlooks and the impact of the Middle East crisis on the ASEAN region.

He stated that Indonesia is promoting the strengthening of ASEAN energy and food security cooperation as a strategic priority for the region.

These efforts are considered crucial for maintaining production continuity, ensuring supply security, and maintaining the smooth flow of trade in essential goods.

Furthermore, Indonesia highlighted the importance of diversifying energy supply sources, strengthening early warning systems, and increasing information exchange among ASEAN countries to anticipate potential future food and energy crises.

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Indonesia then encouraged the strengthening of intra-ASEAN trade by accelerating the ratification of the Second Protocol to the ASEAN Trade in Goods Agreement (ATIGA).

This step is crucial for strengthening the resilience of the region's supply chain amid increasing global economic fragmentation.

Furthermore, Santoso said that Indonesia drew attention to the importance of expanding ASEAN trade cooperation with strategic partners, including accelerating the completion of the ASEAN–Canada Free Trade Agreement (ACaFTA) and the optimization of the Regional Comprehensive Economic Partnership (RCEP).

The minister addressed that ASEAN's response to various global challenges must be oriented toward the interests of the people.

Therefore, protecting vulnerable groups such as farmers and micro, small, and medium enterprises (MSMEs) must be a primary focus in all regional policies.

"ASEAN must be able to develop long-term solutions that not only strengthen regional resilience but also protect communities, especially farmers and MSMEs, from the impacts of the global crisis," he pointed out.

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