Philippines To Pursue Faster ASEAN Economic Growth

Philippines To Pursue Faster ASEAN Economic Growth

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The Philippines will push for stronger regional integration and resilience as this year’s chair of the Association of Southeast Asian Nations (ASEAN), as it seeks to help accelerate economic growth across the region, Malacañang said Wednesday.

Palace Press Officer Claire Castro said President Ferdinand R. Marcos Jr. welcomed the findings of the Philippine Institute of Development Studies (PIDS) recognizing ASEAN’s growing economic and strategic weight and its potential to strengthen the bloc’s position as a global power.

“So, the President welcomes the recognition, the findings of PIDS. And ASEAN aims not only to maintain that gain, but it should accelerate the economic growth even further,” Castro said in a Palace press briefing.

“As ASEAN chair, the Philippines will continue working to strengthen this regional integration and resilience while ensuring that the ASEAN remains united and central to regional peace, stability, and economic growth.”

The PIDS, in its study titled “ASEAN’s Ascent: A Global Power in the Making,” said the Philippines’ 2026 ASEAN chairship provides an opportunity to advance the regional bloc’s collective capacity and role in a changing global order.

The study underscored the need for stronger regional cohesion and institutions to translate ASEAN’s economic and strategic potential into sustained global influence.

It also noted that ASEAN’s economic transformation provides a strong foundation for this potential, with the bloc’s combined gross domestic product increasing from USD118 billion in 2000 to USD3.37 trillion in 2023, while its population surpassed 685 million.

Castro cited the importance of unity among ASEAN member-states in achieving regional stability and prosperity.

She also said preparations are ongoing for the 49th ASEAN Summit and Related Summits, which the Philippines will host in November.

“Dapat talaga magkaisa-isa ang miyembro ng ASEAN at nakikita po nila kung paano nagtatrabaho ang ASEAN sa ngayon patungo sa stability at economic growth (ASEAN member-states should indeed remain united, and they can see how ASEAN is working toward stability and economic growth),” Castro said. (PNA)