JAKARTA - Philippine President Ferdinand Marcos Jr. reminded Southeast Asian leaders that the impact of ongoing geopolitical conflicts and global economic disruptions will continue to be felt for years, even when tensions finally subside.
Speaking at the 48th ASEAN Summit Retreat in Cebu, Philippines, Marcos said member states remain vulnerable to external shocks, particularly disruptions affecting oil supply chains, trade, and global markets.
"And although the impact may be different from one country to another in ASEAN today, there is no denying that this disruption will have an impact on the future," he said as quoted by ANTARA from PNA-OANA, Friday, May 8.
Even if tensions ease over time, Marcos believes the damage to critical infrastructure, vital systems, and trust in general will continue to be felt for years to come.
Marcos said the region was feeling the ripple effects of instability occurring far beyond Southeast Asia, particularly the ongoing conflict in the Middle East, which has disrupted oil supply lines and affected global prices.
"The domino effect of oil supply disruptions on various sectors in our countries has affected the way we do business, work, and live," he said.
Despite facing challenges, the Philippine President said ASEAN had anticipated many of these risks through the ASEAN Community Vision 2045, which identified supply chain disruptions, resource security issues, and great power rivalries as the region's long-term challenges.
He urged ASEAN leaders to go beyond short-term crisis responses and focus on strengthening institutions, improving coordination, and implementing concrete regional action plans to prevent future shocks from escalating into deeper crises.
"This latest crisis is a clear reminder of how vulnerable our economies are to sudden changes in the international order and, as a result, the global economy," he said.
"The disruption that has occurred for several weeks will take years to recover, testing not only our government, but also our society," he added.
Under the Philippine leadership, ASEAN has adopted the "LEAD-SAIL-RISE" framework, which aims to strengthen political and security cooperation, economic integration, and people-centered development throughout the region.
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