(Reuters)
CEBU, Philippines, May 8 – Leaders of Southeast Asian countries holding a summit on Friday are expected to thrash out a coordinated response to the impacts of the Middle East crisis, as they aim to ease pressure from an energy shock that has rattled their oil import-reliant economies.
Meeting on the Philippine island of Cebu, leaders of the Association of Southeast Asian Nations are expected to press for a harmonised strategy to ensure energy and food security in a region particularly exposed to a nearly 70-day blockade of the critical Strait of Hormuz.
In opening remarks as chair of ASEAN, Philippine President Ferdinand Marcos Jr said ASEAN was standing together to demonstrate its capacity to respond with unity and resolve, but must remain agile.
“We must ensure regional energy security and resilience,” he said.
“At a time of heightened volatility, ASEAN must strengthen coordination and reinforce preparedness, pursue practical collective measures to safeguard a stable energy supply and improve interconnectivity.”
