Landmark 48th ASEAN Summit’s voyage

Landmark 48th ASEAN Summit’s voyage | Daily Tribune

The ministers focused discussions on improving coordination for peace, advancing energy security and resilience, regional financial cooperation and capital development, climate change adaptation and digital transformation.

But as war in the Middle East broke out, ASEAN ministers took the time to make the group’s position clear and address the war’s impact on the region and its people.

Energy security amid Middle East conflict

Thus, the second Special Meeting of Foreign Ministers on 13 April underscored strengthening regional energy security and economic resilience and emphasized the value of solidarity in navigating the external economic shocks; protecting and ensuring the safety and welfare of ASEAN nationals; and enhancing energy preparedness through power integration, shift to renewable energy and prioritizing energy supply to ASEAN member-states in times of crisis.

Facilitating trade and investment, strengthening logistics connectivity, and reinforcing supply-chain resilience to help ensure stable access to affordable essential goods, especially food and agricultural inputs, through the possible expansion of the ASEAN Plus Three Emergency Rice Reserve also took center stage.

Financial health and integration

ASEAN Finance Ministers and Central Bank Governors recognized financial health as a regional priority and agreed to develop a regional financial health measurement framework to enable regular monitoring, support evidence-based policymaking, and foster innovation in financial services.

They endorsed the ASEAN Finance Sectoral Plan 2026-2030 toward accomplishing the broader objectives of the AEC Strategic Plan 2026-2030 and the ASEAN Community Vision 2045.

To advance financial integration and strengthen resilience, ASEAN members reaffirmed their commitment to cross-border payment connectivity, inclusion and digital finance, banking integration and capita-market development.

These included the launch of the ASEAN Capital Market Forum Action Plan 2026-2030, a roadmap to guide ASEAN’s capital market development in the next five years, and the completion of the ASEAN Banking Integration Framework review.

Safeguarding food security

Economic Ministers discussed ways to mitigate the economic impact of the global and regional developments, including the Middle East war, and solidified commitment to keep the ASEAN market open for trade and investment, work closely with industry stakeholders and external and development partners to strengthen and sustain business and investors’ confidence in ASEAN.

ASEAN members are committed to fully implementing relevant ASEAN economic agreements to minimize disruptions in regional food supply chains, keep markets open and reduce price volatility.

ASEAN remains steadfast in advancing key regional initiatives, including the timely ratification and effective implementation of the Second Protocol to amend the ASEAN Trade in Goods Agreement and the timely conclusion and signing of ASEAN Digital Economy Framework Agreement. Both support deeper digital integration, trusted cross-border data flows, and greater participation in the regional digital economy.

ASEAN members commemorated the 50th Anniversary of the signing of the Treaty of Amity and Cooperation in Southeast Asia (TAC), and reaffirmed their commitment to uphold ASEAN Centrality in all ASEAN-led mechanisms and promote mutually beneficial cooperation in accordance with the purposes and principles of the TAC.