All posts tagged: ASEAN

Asian Development Bank to mobilise billion to help ASEAN countries withstand external shocks

Asian Development Bank to mobilise $30 billion to help ASEAN countries withstand external shocks

Published by Sam Flores

CEBU, Philippines, May 8 : The Asian Development Bank said on Friday it will mobilise $30 billion to ASEAN countries to advance their economic priorities and help them withstand external shocks. “As the region’s main bank, ADB is channeling financing, expertise, and a $30 billion pipeline of public and private sector investments to directly support ASEAN’s priorities and deliver lasting benefits for people across the region,” President Masato Kanda said in a statement. Source link

Amid Middle East conflict, ASEAN countries eye more coordinated response to future crises

Amid Middle East conflict, ASEAN countries eye more coordinated response to future crises

Published by Sam Flores

UPHOLDING FREEDOM OF NAVIGATION Gaps in a coordinated response to the conflict were seen as recently as two weeks ago, when Indonesia’s Finance Minister Purbaya Yudhi Sadewa floated the idea of imposing a levy on ships passing through the Malacca Strait. Purbaya said this was part of a push to maximise the country’s strategic position along global trade and energy routes, and was inspired by Iran’s plan to charge ships passing through the Strait of Hormuz. In the wake of Purbaya’s proposal – which he later said he was not serious about – Singapore’s and Indonesia’s foreign ministers stressed the importance of freedom of passage in the crucial strait. The Malacca Strait is a major shipping lane for global trade and energy. It is primarily bordered by Indonesia, Malaysia and Singapore, and connects the Indian and Pacific Oceans. According to the draft declaration seen by AP, ASEAN leaders will emphasise the “importance of upholding international law and ensuring that regional cooperation remains anchored in dialogue, trust and respect for sovereignty”. Southeast Asia will “maintain open, …

Middle East conflict set to test ASEAN unity as leaders gather in Cebu for summit

Middle East conflict set to test ASEAN unity as leaders gather in Cebu for summit

Published by Sam Flores

Differences in energy exposure are also shaping responses. Countries like the Philippines and Vietnam are more reliant on Middle Eastern energy imports, while others such as Indonesia, Malaysia and Thailand have greater domestic capacity and are focusing on subsidies and price controls, Patton noted.  For example, cities across Metro Manila have rolled out energy-saving measures like reducing fuel allocation for government vehicles. WHAT OUTCOMES TO EXPECT Given these differences, analysts said expectations for major coordinated measures remain modest, with national-level responses likely to dominate the summit. “With ASEAN, it’s always about the process rather than the destination. You can’t necessarily expect ASEAN to produce a really tangible outcome on these challenging issues where member states have different priorities,” Patton said. She added that she expects the bloc to issue a statement of solidarity amid these challenging global times. Still, leaders are expected to discuss practical steps to cushion economic shocks, protect maritime traffic and manage escalation risks. Key issues on the agenda include fuel supplies, food prices and the welfare of migrant workers. Beyond the Middle …

ASEAN countries won’t take sides in US-China rivalry, want region kept open and inclusive: PM Wong

ASEAN countries won’t take sides in US-China rivalry, want region kept open and inclusive: PM Wong

Published by Sam Flores

FRIENDS WITH ALL Touching on Japan-China ties and the back-to-back timing of his visits to Tokyo last week and Hainan and Hong Kong this week, Mr Wong acknowledged that the two countries “are going through a difficult phase in their relations”. “But from Singapore’s point of view, we are friends with both China and Japan. For that matter, with America and other major partners,” he said. While major powers may have difficulties in their relations with one another, Singapore’s goal is to remain friends with all of them – and Mr Wong said he believes that this is possible. “That is our approach, has always been our approach consistently, and we will continue to find ways to engage all these major powers, deepen our cooperation further and look for win-win outcomes,” he said. On the timing of his China visit, Mr Wong said it was not pre-planned. His Japan trip had originally been set for last year but was delayed due to scheduling difficulties. Once dates were eventually agreed upon – after Japan’s elections earlier …

ASEAN ministers urge halt to Middle East war as crisis rattles energy and trade

ASEAN ministers urge halt to Middle East war as crisis rattles energy and trade

Published by Sam Flores

MANILA: ASEAN foreign and economic ministers on Friday (Mar 13) called for an immediate halt to the war in the Middle East, and said the effects of surging oil prices and disrupted trade are already hitting Southeast Asia’s economies. Several members of the Association of Southeast Asian Nations have begun rolling out measures to counter the economic impact, with governments moving quickly to conserve energy, stabilise domestic markets and protect vulnerable sectors such as tourism. “We expressed serious concern over the situation in the Middle East and its impacts in the region, and emphasised the importance of the immediate cessation of hostilities,” Philippine Foreign Affairs Secretary Ma Theresa Lazaro told a press conference after a special meeting on the crisis, adding that ASEAN called on all parties to exercise the utmost self-restraint. The Philippines, which is chairing ASEAN this year, convened the special meeting as concerns over the Iran conflict deepened. The ministers called for global energy supply chains to be kept open and to activate regional mechanisms to mitigate the economic fallout. Singapore’s Minister …

ASEAN to Assess Post-Election Developments in Myanmar, Malaysia PM Says

ASEAN to Assess Post-Election Developments in Myanmar, Malaysia PM Says

Published by Sam Flores

KUALA LUMPUR, Dec 30 (Reuters) – Malaysian Prime Minister ‌Anwar ​Ibrahim said on Tuesday ‌that leaders from the Southeast Asian bloc ASEAN will ​consider developments in Myanmar following the first phase of its election over the ‍weekend. The polls are being held ​in several phases amid an ongoing civil war that has ravaged ​parts of ⁠Myanmar and led to one of Asia’s worst humanitarian crises. The election has been widely derided by the United Nations, Western governments and human rights groups as a sham and an attempt by the ruling junta to entrench ‌military rule through political proxies. The junta has denied the charge, saying the ​election ‌was not being conducted ‍through coercion ⁠or force and has public support. Anwar, the current chair of the 11-member Association of Southeast Asian Nations, said the bloc’s leaders will monitor the situation in Myanmar with care, including steps underway that relate to the political process. “Any assessment will proceed in a sequenced manner, guided by the need to reduce violence, ​avoid actions that could deepen divisions or confer …