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Philippines calls on Asia to strengthen coordination in responding to oil supply shocks

At the regional level, the President backed the implementation of the ASEAN Petroleum Security Agreement (APSA), which provides mechanisms for coordinated emergency response and fuel sharing among member states.

Hanoi (VNA) – Philippine President Ferdinand Marcos Jr. has called for a united Asian response to energy shocks at the AZEC Plus Online Summit hosted by Japan via teleconference.

As reported by the Philippines’ Bilyonaryo News Channel, the leader said the country responded fast, declaring a national energy emergency and rolling out the UPLIFT programme, a whole-of-government package targeting fuel optimisation, anti-hoarding enforcement, and sectoral relief.

But President Marcos made it clear, saying domestic fixes aren’t enough. He added that no single country in Asia can insulate itself by acting alone.

At the regional level, the President backed the implementation of the ASEAN Petroleum Security Agreement (APSA), which provides mechanisms for coordinated emergency response and fuel sharing among member states.

He proposed the early activation of the agreement’s emergency response system, a regional study on joint oil stockpiling, and the establishment of standardised protocols for emergency fuel allocation./.

VNA
#Philippine President Ferdinand Marcos Jr. #oil supply shocks #AZEC Plus Online Summit Philippines
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