Sen. Bam Aquino called for stronger regional cooperation to stabilize oil prices and shield Asian economies from global shocks during an international summit in Tokyo.
Aquino represented the Philippines as the sole Filipino delegate at the inaugural Asian Leaders Roundtable held on March 10 at the Tokyo Prince Hotel.
The conference gathered political and economic leaders from Asia, Europe, and the Americas to discuss geopolitical tensions, including the Middle East conflict and its impact on energy markets.
The senator joined discussions on forming a “Coalition of Certainty,” a proposed alliance aimed at protecting Asian nations from geopolitical pressures and ensuring economic stability amid rising oil prices.
Aquino participated alongside key global figures, including former Japanese Prime Minister Fumio Kishida and former Indonesian President Susilo Bambang Yudhoyono.
The Genron NPO and its advisory council selected Aquino to join the roundtable, citing his role as a legislative leader capable of engaging in “Track II diplomacy.”
During the discussions, Aquino emphasized the need for Asia to take the lead in shaping a rules-based regional order.
“Asia must lead in establishing a shared security framework within our region that values cooperation and respect for sovereignty… We must move away from reliance on might as a means of resolution and instead return to a rules-based order,” Aquino said.
He also stressed the importance of coordinated action to address rising oil prices, noting their impact on Filipino households and other economies in the region.
“We all agree that by working together, we can weather immediate challenges and create a strong framework to stabilize the region’s economy and prices of oil products,” Aquino said.
Aquino engaged with international economic leaders, including former Indonesian finance minister Sri Mulyani Indrawati and former Bank of Thailand governor Tarisa Watanagase, as part of efforts to explore solutions to economic disruptions linked to global conflicts.
He said Asia has the capacity to lead a new form of multilateralism anchored on cooperation, innovation, and sustainability.
“Given our region’s economic prowess and technological advancements, we, along with other regional partners, have the potential to set the standard for a new form of multilateralism that prioritizes regional partnerships over traditional power dynamics,” Aquino said.
Aquino also highlighted the need for a “coalition of certainty” built on shared goals, clear rules, and mutual trust among nations.
“This collaborative spirit is essential; rather than viewing each other as competitors, Asian nations, along with other regional partners, should recognize the value of mutual support and open trade to enhance collective prosperity,” he added.
The roundtable forms part of ongoing international efforts to address geopolitical tensions and their economic impact, particularly on energy supply and prices affecting countries across Asia.
