Philippines urges Asean to be global investment safe haven as Middle East war rages

At the opening of the ASEAN foreign ministers' meeting in Manila, Philippine Trade Secretary Cristina Roque issued a stark call to action. As the 2026 chair of the Association of Southeast Asian Nations, the Philippines urged the 11-nation bloc to urgently position itself as a global investment safe haven. This push comes as the Iran war enters its second week, upending worldwide energy and financial markets. Roque emphasized that geopolitical tensions are no longer distant headlines but immediate economic shocks, manifesting in volatile energy markets, disrupted shipping lanes, and shifting investor confidence.

Southeast Asian nations, which are largely reliant on oil imports, are now at severe risk of shortages, inflation shocks, and currency volatility. The widening Middle East conflict is expected to dominate the summit's discussions, with officials weighing responses to surging oil prices and major disruptions to shipping, logistics, and trade flows. Roque stated that ASEAN resilience must transition from an aspiration to a primary shield against this instability. The bloc, representing over 600 million people and some of the fastest-growing economies in the Asia-Pacific, is being called to ensure the region remains one where investment is met with certainty and cooperation creates genuine opportunity.