ASEAN leaders agreed to draw more investment into critical mineral processing and manufacturing while tightening regional cooperation on exports of sensitive goods, as the bloc seeks to capture more industrial value and protect strategic supply chains.
The commitments were formalized through two declarations adopted at the 49th ASEAN Summit in Manila on November 15, covering critical minerals development and strategic trade management.
On critical minerals, leaders agreed to establish a common definition and a dynamic list of resources to guide the development of an ASEAN strategy identifying priority value chains and investment opportunities.
The initiative seeks to move Southeast Asian economies beyond extracting minerals to processing, refining, manufacturing and recycling, allowing the region to capture more value from resources increasingly important to clean energy, digital technologies and advanced manufacturing.
To attract capital, member states will work to improve project preparation, develop pipelines of bankable investments and expand access to public and private financing, including risk-mitigation instruments.
The declaration also identifies technology cooperation, workforce development, resource efficiency and stronger environmental and social safeguards as priorities for building a sustainable regional minerals industry.
In a separate declaration, leaders agreed to establish an ASEAN Expert Group on Strategic Trade Management to coordinate controls on trade involving dual-use items, or goods and technologies that can serve both civilian and military purposes.
The expert group will draw up a roadmap with indicative milestones for improving strategic trade management and regional cooperation, while taking into account national laws and differences in member states’ readiness.
The initiative is intended to strengthen the region’s ability to manage sensitive exports as tighter trade controls and geopolitical tensions reshape global supply chains.
