Asean Ministers Urge Unity Amid Global Economic Volatility
Regional bloc seeks to maintain relevance on global stage amid US tariff policy uncertainty
The Asean Ministerial Caucus, held on the sidelines of the 2025 Apec Ministers Responsible for Trade Meeting in South Korea, brought together economic ministers from Asean nations who are also members of the Asia-Pacific Economic Forum.
The meeting took place on May 15 in Jeju, South Korea.
According to a commerce minister, the caucus emphasized the need for Asean to remain united in the face of global economic volatility.
The ministers discussed the global economic uncertainty and Asean's relationship with the United States under US President Donald Trump, who is implementing a reciprocal tariff policy aimed at reducing trade imbalances between the US and its trading partners.
The postponement of the tariffs by 90 days was welcomed, as it allowed for constructive talks to begin resolving concerns about trade imbalances.
The ministers called for a united and timely response to the US policy, which has caused volatility in the global economy, to maintain Asean's relevance on the global stage.
Initiatives such as the Asean Trade in Goods Agreement are expected to be ramped up.
Additionally, Thailand will explore ways to support small- and medium-enterprises in line with the Regional Comprehensive Economic Partnership framework.
The Asean bloc remains committed to multilateral trade to achieve long-term economic stability.
The meeting took place on May 15 in Jeju, South Korea.
According to a commerce minister, the caucus emphasized the need for Asean to remain united in the face of global economic volatility.
The ministers discussed the global economic uncertainty and Asean's relationship with the United States under US President Donald Trump, who is implementing a reciprocal tariff policy aimed at reducing trade imbalances between the US and its trading partners.
The postponement of the tariffs by 90 days was welcomed, as it allowed for constructive talks to begin resolving concerns about trade imbalances.
The ministers called for a united and timely response to the US policy, which has caused volatility in the global economy, to maintain Asean's relevance on the global stage.
Initiatives such as the Asean Trade in Goods Agreement are expected to be ramped up.
Additionally, Thailand will explore ways to support small- and medium-enterprises in line with the Regional Comprehensive Economic Partnership framework.
The Asean bloc remains committed to multilateral trade to achieve long-term economic stability.
