MACTAN, Cebu—Trade Secretary Cristina Roque has urged economic ministers to take a timely and practical approach in the Middle East crisis, which has been crippling not just the Philippine economy but also the regional bloc.

Roque, who also sits as the chairperson of the Economic Ministers’ Meeting at the ongoing ASEAN Summit here, said economic ministers are keen to hear how our foreign ministers assess the situation and how they see developments unfolding in the coming months.

“These perspectives are critical in helping us better anticipate risk and calibrate our economic responses. At the same time, this meeting is an opportunity to engage candidly to test our assumptions and to align our actions and plans where we can assist each other. Our chairship theme, ‘Navigating Our Future, Together,’ speaks directly to the moment. No member state can manage these challenges alone. Our responses must be coordinated, practical, and timely,” she said in an opening statement during the Joint Foreign and Economic Ministers Meeting for the 48th ASEAN Summit here.

She said developments in the Middle East have shown how quickly external shocks can reshape our region.

“What began as a distant crisis is now affecting energy prices, supply chains, and economic conditions across ASEAN. These are not isolated effects. These are a reminder that our economies and our vulnerabilities are closely linked,” Roque noted.

She said the ASEAN member states are already seeing the consequences – higher fuel and food prices are straining households; businesses, especially micro, small, and medium enterprises (MSMEs), are managing rising costs and uncertainties.

“The issues before us do not fall neatly into either foreign policy or economic policy; they span both. Energy security, trade flows, and supply chain resilience are shaped by geopolitical developments just as they are economic decisions. Addressing them requires us to work across our pillars, not in parallel but together,” she said.

She urged economic ministers to focus on a few clear priorities, strengthening coordination to stabilize energy supply and manage price pressures.

Addressing risk to food security and supply chain disruptions early and ensuring that our businesses, particularly the MSMEs, are supported, so they can continue to operate and to grow, she said.

“ASEAN has faced uncertainty before; each time we have made progress when we acted with clarity and with coordination. If we act together, we reinforce stability. If we act decisively, we strengthen confidence, and if we focus on implementation, we deliver results our people can feel,” according to Roque. 

This Friday, ASEAN leaders meeting at the 48th ASEAN Summit in Cebu, Philippines, are set to release a joint statement outlining a collective response to the economic and energy fallout from the Middle East conflict.