President Ferdinand Marcos Jr. welcomed reports of a US-Iran agreement on Tuesday, saying a lasting peace could help ease pressure on the global economy and bring relief to countries struggling with elevated fuel prices and economic uncertainty.
Speaking during a joint press conference with German President Frank-Walter Steinmeier, Marcos described the development as encouraging news after months of conflict that rattled energy markets and disrupted global trade flows.
“Any step towards peace is a good step,” Marcos said, referring to reports that hostilities could end and that the Strait of Hormuz may reopen to international shipping.
The strategic waterway is a vital route for global oil shipments, making its closure a major source of concern for economies dependent on imported fuel. A sustained reopening could help stabilize oil prices, reduce transport costs, and temper inflationary pressures that have weighed on households and businesses worldwide.
Still, Marcos stopped short of declaring victory.
“We are always cautiously optimistic. We have unfortunately heard these proclamations before, and they have not come true,” he said.
His comments reflect the cautious mood among policymakers and investors, who have seen previous ceasefire announcements unravel. Markets may welcome signs of de-escalation, but the durability of any agreement will ultimately determine its economic impact.
Marcos noted that even if peace holds, the effects of the conflict will not disappear overnight. Energy markets, supply chains, and business sentiment will need time to recover from months of volatility.
The President also used the briefing to reaffirm his administration’s anti-corruption campaign, an issue closely watched by investors assessing the country’s long-term competitiveness.
“As serious as it can get,” Marcos said, stressing that corruption weakens government services and undermines economic progress.
The combination of easing geopolitical risks and stronger governance could improve the country’s investment appeal. While a peace agreement may provide immediate relief to global markets, Marcos signaled that sustainable economic gains will depend just as much on reforms at home as developments abroad.
