Strait Of Malacca Must Stay Open For Global Trade, Says Philippines

From Linda Khoo

CEBU, May 6 (Bernama) -- The Strait of Malacca must remain open to ensure the smooth flow of global trade and investment amid rising concerns over the vulnerability of key maritime chokepoints following tensions in the Strait of Hormuz.

Philippine Department of Trade and Industry (DTI) Undersecretary Allan Gepty said any proposal or initiative that could disrupt trade flows through one of the world’s busiest maritime routes should be carefully scrutinised.

“The global economy is already highly integrated and interconnected, and it is crucial that we keep markets open for trade and investment while avoiding unnecessary restrictions.

“Any proposal or initiative that could derail or disrupt the flow of trade deserves careful scrutiny and analysis, as it is important that we adhere to a rules-based trading system,” said Gepty, who is also the Philippine ASEAN Economic Community (AEC) Council minister, at a press conference on Wednesday.

On South China Sea, ASEAN spokesperson Dominic Xavier M. Imperial said the bloc remains encouraged by steady progress in negotiations on the Code of Conduct (COC), with all parties committed to concluding talks by 2026. 

He said the commitment, reaffirmed during the ASEAN Foreign Ministers’ Retreat in January, includes holding more frequent meetings to sustain momentum in the negotiations.

“We are encouraged by the commitment shown by all parties, with the latest meeting marking the 11th round of discussions between ASEAN member states and China on the COC negotiations,” he said. 

ASEAN and China are intensifying efforts to conclude the COC this year after years of slow progress.

-- BERNAMA