MANILA — The upcoming 32nd ASEAN Economic Ministers (AEM) Retreat will review global and regional economic conditions, including the impact of rising tensions in the Middle East, a Department of Trade and Industry (DTI) official said.

Marie Sherylyn D. Aquia, Director of the DTI-Bureau of International Trade Relations, said the annual forum allows ministers to engage in candid discussions on the global and regional economic outlook, ASEAN’s integration agenda, sustainability initiatives, and developments in external economic partnerships.

Asked whether the economic effects of the Middle East crisis, particularly on oil prices, would be addressed, Aquia said the topic would likely fall under the agenda on regional and global developments.

“Yes, there is an agenda on regional and global developments, and this is going to be one of the issues that the Ministers will be discussing,” she said, adding that the ASEAN Secretariat will brief ministers on the situation in Iran, its impact on energy prices, and broader inflation trends.

Aquia also noted that the ASEAN Foreign Ministers have called a special meeting to discuss the crisis.

“As we face global uncertainties, from geopolitical tension to technological transformation, ASEAN must continue to work together, adapt together, and navigate our future together. As ASEAN Chair this year, the Philippines is proud to facilitate these discussions and contribute to shaping the region’s economic agenda,” she said.

President Ferdinand R. Marcos Jr. has expressed concern over rising fuel prices and directed government agencies to implement measures, including fuel subsidies and workweek adjustments, to mitigate the impact on households and businesses.