Asean ministers urge ceasefire in Iran amid economic threats
A drawn-out conflict in the Middle East could eventually ripple across Southeast Asia and dampen economic growth in the region, Association of Southeast Asian Nations (Asean) economic ministers warned on Friday, marking their first collective response to the nearly two-week war.
In a joint statement issued after the 32nd Asean Economic Ministers’ Retreat in Taguig, the ministers said escalating tensions had already injected volatility into global energy markets and disrupted critical maritime supply chains.
“It will also impact economic security and stability, the livelihoods of millions of people in the region, and hinder economic progress in Asean,” the statement added.
This conflict comes as the Philippines holds this year’s rotating chairmanship of Asean, placing Manila in a key position to steer the bloc’s economic agenda at a time of rising geopolitical uncertainty.
The ministers called for “the cessation of hostilities, the exercise of maximum restraint and the pursuit of dialogue by all parties concerned,” echoing earlier appeals issued by Asean foreign ministers.
As the war enters its third week, the ministers said disruptions were already driving up freight, insurance and logistics costs, pressures that could feed into higher prices in the region.
