Speaker Ferdinand Martin Romualdez
MANILA, Philippines–Speaker Ferdinand Martin Romualdez has called for broader solidarity and cooperation among Association of Southeast Asian Nations (Asean) member states to sustain the momentum of the region’s post-pandemic economic recovery and reduce poverty amid global headwinds.
In his statement at the plenary session of the 44th Asean Inter-Parliamentary Assembly General Assembly in Jakarta on Monday, Romualdez noted that high inflation and global economic slowdown pose a threat to the region’s growth trajectory prospects.
“High food and oil prices in particular have impacted households’ ability to afford other discretionary items. These points raise the urgency for Asean Member States to take action to build resilient, sustainable, and inclusive long-term growth,” Romualdez said.
“AIPA must recognize that the path to greater prosperity in the region is by greater regional cooperation and interdependence,” he said.
Romualdez said the AIPA General Assembly presents a relevant platform for dialogue and exchange of best practices of member parliaments.
He also said that the region’s parliaments play a unique and crucial role in broadening progress in regional cooperation and sub-regional integration as legislative actions can facilitate access to markets, and improve resource allocation and regional productivity.
“Our parliamentarians are key to enhancing economic growth, financial stability, and social inclusion, and in addressing poverty and promoting institutional stability,” Romualdez said.
Along this line, he expressed support for increased focus of the BIMP-EAGA Vision 2025 on broad strategies to align sub-regional pandemic recovery and transformation efforts, particularly in areas of food security, creative industries, tourism, and green recovery.
To better achieve this, Romualdez pushed for the holding of the first BIMP-EAGA Parliamentary Forum in 2024 in Davao City, in order to incorporate policy-making in BIMP-EAGA affairs.
MORE: Romualdez highlights PH economic roadmap at Asean assembly