The Philippine government will seek to further strengthen the country’s ties with Japan and enhance energy security amid the ongoing Middle East crisis during President Ferdinand Marcos Jr.’s state visit to the East Asian nation from 26 to 29 May.
In an interview with members of the Japanese media on Monday, attended by select members of the Malacañang Press Corps as observers, Marcos said the Philippines intends to deepen cooperation with Japan, particularly on energy supply and security.
“We are actually very grateful to Japan because Japan has been of great assistance to us in trying to find different solutions for the supply of the different kinds of fuel. And that has become a critical part of our policy,” the President said.
Marcos underscored Japan’s role in energy security following discussions during the 48th ASEAN Summit in Cebu, where regional leaders tackled measures to secure electricity and fuel supplies, including the establishment of oil reserves and a common ASEAN power grid.
The President said Japan has proposed a response mechanism that could provide up to $10 billion in assistance through the Partnership on Wide Energy and Resources Resilience, or POWERR Asia, launched by Japanese Prime Minister Sanae Takaichi in April.
The initiative aims to help Asian countries secure crude oil supplies, diversify critical minerals, and build sustainable zero-emission supply chains to shield economies from supply disruptions linked to tensions in the Middle East.
“And we will again try to get more clarity on what the POWERR Asia system is that has been proposed by Prime Minister Takaichi. What does it mean in terms of linkages between our different countries, between the Philippines and Japan, and between all of the countries in the region?” Marcos said.
“So, it is extensively used for supply procurement, for supply chain maintenance, and for crude oil stockpiling capacity augmentation in Asia,” he added.
Marcos said ASEAN member states and regional partners have already undertaken significant work on energy cooperation and crisis response, noting that efforts initiated during the current crisis could eventually become institutionalized.
The President also said the Philippines, ASEAN, and Japan could work together to accelerate the adoption of renewable energy to cushion economies against geopolitical shocks.
“This is what’s happening in my view. This is what’s happening in the shorter term. Of course, when February 28 came about, everyone was scrambling to see what we were going to do, where we were going to get our fuel,” Marcos said.
