Regional Meeting: Thirty-Second ASEAN Economic Ministers’ Retreat

A Myanmar delegation led by Dr. Wah Wah Maung, Union Minister for Investment and Foreign Economic Relations and ASEAN Economic Minister for Myanmar, attended the Thirty-Second ASEAN Economic Ministers’ Retreat and its related events, in Taguig City of the Philippines, from 12 to 13 March.

During the first session, presentations were delivered by the ASEAN Business Advisory Council on its priority projects and initiatives for 2026. The Economic Research Institute for ASEAN and East Asia also presented a proposal on developing a new industrial policy framework aimed at strengthening ASEAN’s economic resilience.

In addition, the Asian Development Bank (ADB) proposed initiatives to enhance the strategic partnership between ASEAN and ADB. ASEAN Economic Ministers noted their presentations and provided recommendations for further strengthening private sector engagement and enhancing public private partnership.

During the second session, ASEAN Economic Ministers exchanged views on regional and global outlook, the recommendations of the ASEAN Geoeconomic Task Force and the High-Level Task Force on ASEAN Economic Integration. They also discussed implementation progress of the ASEAN Economic Community (AEC) and sustainability initiatives of  AEC Pillar.

The Ministers endorsed the concept notes of Priority Economic Deliverables under the AEM’s purview that will implement under the Philippines ASEAN chairmanship in 2026. Furthermore, ASEAN Economic Ministers provided the necessary guidance  on the efforts to conclude and sign the ASEAN Digital Economy Framework Agreement within 2026. They also discussed the matters related to ASEAN Plus one free trade agreements, such as Canada, Republic of Korea, and India.

In addition, ASEAN Economic Ministers exchanged views on enhancing bloc to bloc economic cooperation with external partners such as the European Union, the Gulf Cooperation Council, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

At the meeting, the Union Minister emphasized the importance of economic security in the amid rising geopolitical and geoeconomic uncertainties. The Union Minister highlighted that economic security is essential for strengthening the resilience of regional value chains, ensuring stable economic growth, and deepening cooperation.

The Union Minister also noted that ongoing conflicts in the Middle East could pose challenges to regional energy security and stressed the need to enhance energy cooperation among ASEAN Member States.

In addition, the Union Minister underscored the necessary of strengthening regional cooperation on food security, rising commodity prices, supply chain disruptions in order to overcome the challenges arising from increasing energy and transportation costs.

In addition, the Union Minister emphasized the importance of ASEAN Centrality, ASEAN solidarity with the concept of no member state lagged behind and the need of strengthening public-private partnership to overcome challenges on economic sector.

The Union Minister reaffirmed the close collaboration with other ASEAN Member States to ensure the timely implementation of the Priority Economic Deliverables under the Philippine Chairmanship in 2026. The Union Minister also highlighted the importance of constructive negotiations to achieve mutually beneficial outcomes in ASEAN Plus One Free Trade Agreements.”

The ASEAN Economic Ministers also adopted the ASEAN Economic Ministers’ Joint Statement on Strengthening ASEAN’s Economic Resilience in Response to Recent Global Economic and Geoeconomic Developments.

During the meetings, the Union Minister also participated in the launch event of a joint report by the ADB and the Government of the Philippines on ASEAN’s Green Economic Transition.

The Union Minister also visited the Likhang Filipino exhibition gallery in Manila, which showcases Philippine MSMEs products and discussed to promote bilateral trade between Myanmar and the Philippines. Furthermore, the Union Minister attended the ASEAN Economic Ministers’ welcome dinner hosted by the Government of the Philippines.