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Asean and China urge lasting Middle East ceasefire, step up energy ties

Asean said Southeast Asia relies on the Middle East for about 55.0% of its crude oil imports, leaving as much as 28.0% of final energy consumption exposed to disruption.

Reported · Written up by our desk · Trade & Tariffs

China and Asean foreign ministers, meeting in Manila, called for a lasting settlement to the war in the Middle East and urged a ceasefire and peaceful, long term resolution, according to a joint statement released on Friday. The move came amid an ongoing energy crisis and new concern over supply chain vulnerability to geopolitical shocks, as reported by SCMP Economy.

The statement linked the regional stakes to energy exposure from the Middle East. It cited figures from the World Economic Forum Asia showing that 55.0% of Southeast Asian crude oil imports originate from the Middle East, and that disruption could affect up to 28.0% of the region’s final energy consumption.

Asean Secretary General Kao Kim Hourn previously warned that the Middle East crisis had highlighted how vulnerable global energy and food supply chains are to geopolitical shocks, and he urged deeper cooperation with China. In the latest statement, Asean and China also pledged further coordination on energy security.

The joint statement pointed to ongoing US-Iran negotiations mediated by Pakistan and Qatar, and positioned the diplomacy and energy cooperation as linked responses to the broader market risk from instability in the region.

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