ASEAN economic ministers are set to advance regional initiatives on energy security and semiconductors as they meet from September 19 to 22 for the ASEAN Economic Ministers Meetings and Related Meetings.
Trade Secretary Cristina Roque said energy security has grown more urgent amid geopolitical tensions in the Middle East and volatility in petroleum markets, with ASEAN expected to develop recommendations while individual members pursue their own priorities.
“Energy security is important,” Roque told reporters Friday.
Trade Undersecretary Allan Gepty said a resilient energy sector is essential to maintaining ASEAN’s competitiveness and comparative advantage in the global economy.
A key deliverable is implementing the ASEAN Power Grid, which aims to strengthen regional electricity connectivity. ASEAN is also working toward ratifying the ASEAN Petroleum Security Agreement, while its Regional Action Plan on Investment is expected to support the green transition by encouraging investments in renewable energy.
“As we address these challenges that we are facing, the fuel crisis in particular, we have to look at the other aspect also of embracing now green energy in the process,” Gepty said.
The ministers are also expected to push forward the ASEAN Semiconductor Roadmap, a major initiative aimed at strengthening the region’s position in the global chip industry.
Gepty said ASEAN and its Regional Comprehensive Economic Partnership partners account for about 70 percent of global semiconductor and electronics output, making the sector crucial to the region’s industrial ambitions.
The roadmap will identify programs and policies to keep ASEAN competitive and help investors navigate opportunities across the semiconductor value chain, from integrated-circuit design to assembly, testing and packaging, and potentially wafer fabrication.
It will also focus on workforce development, with Gepty stressing that skilled workers are essential to sustaining semiconductor and electronics production.
“It’s a whole ecosystem that will, of course, boost the competitiveness of ASEAN, and at the same time, help our foreign partners invest in the region,” he said.
