DTI urges ASEAN to keep trade open amid protectionism fears
Updated
Updated · BusinessWorld Online · May 6
DTI urges ASEAN to keep trade open amid protectionism fears
6 articles · Updated · BusinessWorld Online · May 6
At talks in Cebu, Trade Undersecretary Allan Gepty warned against restrictions after discussion of possible tolls on ships using the Malacca Strait, a route carrying about 25% of global trade.
He said ASEAN should uphold a rules-based trading system and avoid unnecessary barriers to trade and investment as global market disruptions raise pressure for protectionist responses.
The Philippines chairs ASEAN this year, with meetings in Manila and Cebu also focusing on food and energy security, power-grid links, a Canada trade deal, and digital and agriculture investment.
With the Strait of Hormuz closed, can ASEAN's new infrastructure plan truly secure its energy and digital lifelines?
As the US retreats from multilateralism, can ASEAN's call for open trade actually counter rising global protectionism?
Why is intra-ASEAN trade so low, and will massive new investments in energy and digital grids finally fix it?