TOKYO/MANILA – The Philippines is expected to benefit from Japan’s planned $10 billion support package aimed at strengthening energy security and supply stability across Asia.
The initiative, announced by Prime Minister Sanae Takaichi during the Japan-led Asia Zero Emission Community Plus online summit on April 15, seeks to help countries manage risks linked to fuel supply disruptions and rising global energy costs.
“We are closely linked to Asian countries through our supply chains,” Takaichi told reporters.
“Fuel shortages and supply chain stagnation in Asia have a negative impact on our nation’s economy,” she added.
The move comes as countries like the Philippines, which rely heavily on imported fuel, remain exposed to price swings in the global market, particularly as tensions affecting key routes such as the Strait of Hormuz threaten supply flows.
President Ferdinand Marcos Jr., who also took part in the summit, called for stronger regional cooperation to address such challenges, stressing the need for collective action among Asian economies.
“No single country in Asia can insulate itself from supply chain shocks of this scale by acting alone,” he said. - Florenda Corpuz
(Photo courtesy of Cabinet Public Affairs Office)
