THE Philippines, serving as chair of the Association of Southeast Asian Nations (Asean), is pushing to formalize the bloc’s geoeconomics task force into a permanent body aimed at strengthening regional coordination amid growing global economic uncertainties.
During the 32nd Asean Economic Ministers’ Retreat, the Department of Trade and Industry (DTI) called on member states to transform the Asean Geoeconomics Task Force into a formal unit to be known as the Asean Geoeconomic Group.
In a statement, DTI Secretary Ma. Cristina Roque said the proposed group would help the region better anticipate and manage economic disruptions while sustaining Asean’s commitment to open markets.
“For Asean, resilience is no longer an aspiration. It is our primary shield,” Roque said in her opening remarks. “While we remain global champions of the open market, the current landscape demands that openness be backed by coordination and foresight.”
Roque said institutionalizing the task force into a formal group would strengthen the bloc’s ability to navigate global economic shifts collectively.
“Alongside the High-Level Task Force on Economic Integration, this body will ensure that we are not just reacting to global shifts — we are navigating them together,” she said.
The Asean Geoeconomics Task Force was created to develop coordinated strategies for the region in response to global trade uncertainties and to help enhance the bloc’s economic resilience through more unified decision-making.
Meanwhile, Allan Gepty, DTI undersecretary for international trade, stressed the importance of maintaining unity among Asean member states as geopolitical tensions and economic pressures intensify.
Gepty noted that challenges such as rising oil prices linked to tensions in the Middle East highlight the need for stronger regional cooperation to safeguard Asean’s economic integration agenda. / KOC