PCCI pushes ASEAN action on key security risks

The Philippine Chamber of Commerce and Industry (PCCI) is urging Southeast Asian leaders to prioritize energy, food and water security as geopolitical tensions threaten supply chains and economic stability across the region.

PCCI President Perry Ferrer said the issue should be a key focus as the Philippines chairs the Association of Southeast Asian Nations this year.

“We need to look at our energy, water, and food security now. We hope our leaders are discussing these concerns at the ASEAN Ministerial Meetings,” Ferrer said.

He stressed the need for ASEAN member states to come up with concrete agreements to protect supply chains, stabilize economies, and support micro, small and medium enterprises (MSMEs) amid rising fuel costs linked to tensions in the Middle East.

Ferrer noted that ASEAN’s population of over 700 million and its MSME-driven economy make the region particularly vulnerable to external shocks, especially those affecting fuel prices and logistics.

“As a regional block, we should be united in addressing the crisis. There is a now that we have to deal with,” he said.

Ferrer pointed out that the Philippines relies on energy imports from regional partners, including coal from Indonesia and refined fuel from Singapore, Malaysia and South Korea, underscoring the need to secure stable supply arrangements.

He added that the country should also strengthen bilateral ties with trading partners to ensure consistent fuel supply, while PCCI continues to work with the government on measures to cushion the impact of rising oil prices.

Earlier, PCCI called on Congress to grant emergency powers to Ferdinand Marcos Jr. to help mitigate the impact of price increases on households and businesses, and expressed support for measures such as reducing excise taxes, value-added tax, or tapping alternative funding sources.