MANILA, the Philippines – Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun has highlighted regional food security, supply chain resilience, and the successful conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) during the 58th ASEAN Economic Ministers (AEM) Meeting, held from September 19 to 20, 2026, in Manila, the Philippines.
The Deputy Prime Minister reported that, despite challenges such as tariff measures and energy price volatility, the ASEAN economy grew by 4.9 percent in 2025 and is expected to grow by 4.5 percent in 2026. She cautioned that global energy market fluctuations and climate change continue to affect agricultural yields and raw materials, raising inflationary pressures. To address these risks, she called on member states to strengthen cooperation in energy and food security and to enhance overall economic resilience.
Thailand advocated for establishing ASEAN as a leading global production base for high-value food and agricultural products. By leveraging each member state’s strengths in agriculture, industry, technology, and energy, the region can boost competitiveness and support one another during crises. In discussions with the ASEAN Business Advisory Council (ASEAN-BAC), the delegation highlighted food security and proposed new mechanisms for public-private cooperation and investment promotion to strengthen regional food supply chains.
This year, ASEAN is advancing over 30 key economic initiatives to support long-term regional growth. Notable achievements include drafting a strategic framework to attract semiconductor investment and concluding the DEFA negotiations on May 29, 2026, with Thailand chairing the DEFA negotiating committee. Other priorities are expediting the enforcement of the First Protocol amending the ASEAN Trade in Goods Agreement (Upgraded ATIGA) and accelerating free trade negotiations with India and Canada to expand market opportunities. ASEAN will present these comprehensive economic outcomes to leaders at the summit in November 2026.
During the Manila meetings, ASEAN outlined strategic work plans with 14 dialogue partners to expand trade and investment in high-potential sectors. Thailand, along with member states and Hong Kong, signed the First Protocol to amend the ASEAN-Hong Kong Investment Agreement (AHKIA), having served as lead coordinator and concluded negotiations on March 20, 2026.
The upgraded agreement expands investment market access, strengthens investor confidence, and is expected to attract high-quality foreign direct investment to Thailand while supporting Thai business expansion into Hong Kong. (NNT)
