<div id="readability-page-1"><div><p>[MANILA] Asean vowed to avoid trade restrictions and push ahead with a fuel-sharing scheme as the region grapples with a spike in oil prices and supply disruptions due to the Iran war.</p><p>“We will keep trade open and predictable. Asean agreed to avoid restrictive trade measures, including export bans on essential goods,” Philippine Trade Secretary Cristina Roque said in a briefing on Thursday (Apr 30) after meeting with regional economic ministers.</p><p>“In times of uncertainty, predictability is stability and stability begins with keeping goods moving across borders,” she said.</p><p>Asean is also working to advance the ratification of an agreement that enables coordinated emergency fuel sharing amid supply disruptions, she said.</p><p>The 11-nation bloc will upgrade key trade agreements, including those with China, South Korea and Canada, according to Roque, who chaired the special meeting on the Middle East conflict’s impact on the region.</p><p>Asean members have seen pump prices jump since the start of the Iran war, stoking inflation, straining government Budgets and choking economic activity.</p><div><div><div><p>SEE ALSO</p><div><div><div><div><p><img height="5277" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/bea22de9f320f9e4ba5fa407b1d1f667c2d5e5e8f7706e28e772996bb43e14fb/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="7911" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/bea22de9f320f9e4ba5fa407b1d1f667c2d5e5e8f7706e28e772996bb43e14fb/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Iran war splits Asia’s diesel market into haves and have-nots</span></h3><p></p></div></div><div><div><div><p><img height="3480" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ddfa79aa17dcc189bd99ef440d48d68c98e952f3888fd81501c72642b26487f4/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="5145" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ddfa79aa17dcc189bd99ef440d48d68c98e952f3888fd81501c72642b26487f4/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?</span></h3><p></p></div></div><div><div><div><p><img height="2825" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/2757b17d68018201a1361579fb6ca0697df9be38c45654df69c11eb363a0e23b/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="4237" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/2757b17d68018201a1361579fb6ca0697df9be38c45654df69c11eb363a0e23b/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Malaysia’s energy windfall masks a burgeoning ‘two-speed’ economy</span></h3><p></p></div></div></div></div></div><div><h3>Navigate Asia in<br/>a new global order</h3><p>Get the insights delivered to your inbox.</p></div></div><p>“We noticed that geopolitical tensions are already affecting economic stability in Asean,” Roque said. BLOOMBERG</p><div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. <span>Sign up here to get Decoding Asia newsletter.</span> Delivered to your inbox. Free.</p></div></div></div>

<p>Asean has committed to avoiding trade restrictions and implementing a fuel-sharing scheme in response to rising oil prices and supply disruptions caused by the Iran war. Philippine Trade Secretary Cristina Roque emphasized the importance of keeping trade open and predictable, stating that the region will avoid export bans on essential goods. Asean is also working on ratifying an agreement for coordinated emergency fuel sharing and upgrading trade agreements with countries like China, South Korea, and Canada. The ongoing geopolitical tensions are impacting economic stability in the region.</p>

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Asean vows to avoid export bans, share fuel as oil prices soar