Conflicts in the Middle East threaten global economic growth; ASEAN economic ministers hold an emergency discussion on energy security.

According to a report by Nikkei Asia Review on the 13th, as conflicts in the Middle East continue to expand and threaten global economic growth and people’s well-being, the ASEAN countries’ economic ministers held a meeting that day to look for ways to deepen regional resilience and economic integration. The Philippine Business Mirror said that the agenda for this emergency meeting will focus on the energy crisis that is affecting ASEAN economies, as well as coordinated measures to help citizens of countries in difficulty within ASEAN. As the Philippines holds the rotating chair of ASEAN, Trade and Industry Minister Roca of that country said at the opening ceremony that military actions by the US and the US against Iran have led to sharp increases in the prices of fuel, energy, and many commodities, and that recent geopolitical developments “remind us that we are closely connected to one another.”

According to Bloomberg in the US on the 13th, after the ASEAN economic ministers’ meeting, a joint statement said that freight, insurance, and logistics costs are rising and will further intensify inflationary pressures on energy, food, and other essentials, “which will also affect economic security and stability in this region, the livelihoods of millions of people, and hinder ASEAN’s economic progress.” They said they will strengthen supply chains and ensure smooth trade to ensure that the region can withstand the impact of the Middle East conflict on the supply of food, fuel, and important commodities. The report said that as the US-Iran conflict and the Israel-Iran conflict enter their second week, global energy and financial markets continue to be volatile. Most Southeast Asian countries largely rely on oil imports and are facing risks of supply shortages, inflation shocks, and currency fluctuations. (