ASEAN Power Grid Seen Among Priority Economic Deliverables
LAPU-LAPU CITY (Cebu, Philippines), May 6 (Bernama-PNA) -- The implementation of the proposed ASEAN Power Grid is among the Philippines’ priority economic deliverables as it chairs the 48th ASEAN Summit, aimed at strengthening regional energy security and resilience amid global uncertainties.
Department of Trade and Industry (DTI) Undersecretary Allan Gepty said the initiative forms part of a broader set of economic priorities designed to deepen integration and address external shocks affecting the region, the Philippine News Agency (PNA) reported.
“It is also noteworthy that our priority economic deliverables this year are timely, forward-looking, and strategic,” Gepty said during a press briefing here Wednesday, ahead of the 48th ASEAN Summit and Related Meetings set on May 6 to 8.
He said the memorandum of understanding on the ASEAN Power Grid envisions cross-border electricity trade, allowing member states to share energy resources and stabilise supply across the region.
The initiative comes as Southeast Asia faces rising energy costs and supply pressures linked to geopolitical tensions, including the ongoing conflict in West Asia.
Gepty said strengthening regional energy connectivity is critical to reducing vulnerabilities and ensuring long-term energy stability.
Alongside the power grid initiative, ASEAN is also working to finalise the ASEAN-Canada Pre-Trade Agreement, which aims to expand trade networks and open new economic opportunities for member states.
Other priority deliverables include promoting digital trade, boosting investments in green and high-growth sectors, and advancing sustainable agriculture systems.
Gepty emphasised that ASEAN’s coordinated response is crucial in maintaining trade flows, supporting businesses, and sustaining economic growth amid global challenges.
“A more integrated ASEAN is not just an aspiration. It is a necessity,” he said.
The Philippines, under the leadership of President Ferdinand R. Marcos Jr., is hosting the summit this year under the theme “Navigating Our Future, Together,” with economic resilience and regional cooperation high on the agenda.
ASEAN leaders are set to meet on Friday.
-- BERNAMA-PNA
