ASEAN pushes food-energy cooperation as Suphajee warns of inflation risks
Thailand’s Deputy Prime Minister and Commerce Minister Suphajee Suthumpun has called for stronger ASEAN coordination on food and energy to counter inflationary pressures from volatile markets and climate change,…
Source: The Nation Thailand · September 21, 2026 at 12:02 PM · AI-assisted report
Single-source
MANILA, PHILIPPINES, 21 SEPTEMBER 2026 —
Thailand’s Deputy Prime Minister and Commerce Minister Suphajee Suthumpun has called for stronger ASEAN coordination on food and energy to counter inflationary pressures from volatile markets and climate change, following the 58th ASEAN Economic Ministers’ Meeting in Manila.
Market Impact
Suphajee cited food security as a priority, warning that disruptions to agricultural output and raw material supplies—exacerbated by energy-price swings—threaten regional stability. ASEAN’s 2025 economic growth of 4.9% is projected to slow to 4.5% in 2026, with intra-regional trade and investment under strain from tariffs and energy volatility.
The proposal includes mechanisms to connect governments, businesses, and producers through investment in resilient supply chains, leveraging member states’ diverse strengths in agriculture, industry, and technology. Suphajee said Thailand sees opportunities to improve regional competitiveness while enabling mutual support during crises.
ASEAN has made progress on over 30 major economic initiatives in 2026, including a semiconductor roadmap to attract investment and the finalisation of the ASEAN Digital Economy Framework Agreement (DEFA) in May. Negotiations for upgraded trade deals with India and Canada remain ongoing, aiming to deepen ties with key partners.
Thailand also signed the First Protocol to Amend the ASEAN–Hong Kong Investment Agreement (AHKIA), expanding market access and investor protections—a move Suphajee said would boost Thailand’s appeal for high-quality foreign direct investment.
For Malaysian markets, closer ASEAN food and energy coordination could ease price volatility for commodity exporters like palm oil and LNG, while the semiconductor roadmap and DEFA agreement may benefit Malaysia’s electronics industry through regional supply-chain integration. However, progress depends on resolving trade barriers and aligning digital-policy frameworks.
The call comes as climate risks and geopolitical tensions—such as Russia’s grain export restrictions and U.S.-China trade frictions—disrupt global supply chains. Suphajee noted Thailand’s leadership in coordinating ASEAN’s economic dialogue with 14 external partners, including China, the U.S., and the EU, to expand trade and investment.
Outcomes of these discussions will be presented to ASEAN leaders in November, with expectations of further integration in digital trade, manufacturing, and supply-chain resilience. Implementation will hinge on political will and cross-border infrastructure investments.
Related: Suphajee Suthumpun · Manila, Philippines