The Middle East conflict affects the Asia-Pacific economy, with multiple countries calling for a ceasefire and diplomatic mediation.
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The ongoing military conflict between the United States, Israel, and Iran continues to impact the Asia-Pacific region, with multiple governments and regional organizations calling for a halt to military actions. Julia Roknifard, a senior lecturer at Taylor's University in Malaysia, pointed out that Southeast Asia may face trade disruptions and rising energy costs. According to a survey by the Malaysia External Trade Development Corporation, 64% of companies expect to be affected by the conflict, facing issues such as transportation delays and increased shipping and insurance costs. Retail oil prices in Cambodia have risen within a week, increasing costs for the garment and agriculture sectors. The President of Sri Lanka warned that the conflict could impact the economy. The South Korean stock market fluctuated this week, and the Managing Director of the International Monetary Fund stated that the conflict could affect global energy prices and economic growth. ASEAN emphasized energy diversification and economic integration, while countries such as Vietnam, the Philippines, and South Korea have taken response measures. Chinese Foreign Minister Wang Yi held talks with foreign ministers from several countries, emphasizing adherence to the United Nations Charter, and China will send a special envoy to the Middle East to help de-escalate the situation.
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