The ongoing situation in the Middle East presents challenges that could impact not only ASEAN’s energy security but also food systems, supply chains, and overall economic performance. Consequently, it is essential to increase emergency food reserves, stated U Aung Kyaw Hoe, Union Minister for National Planning, Investment and Foreign Economic Relations.
The Union minister made these remarks during the Special Meeting of the ASEAN Economic Community (AEC) Council Ministers concerning the Middle East conflict, held on 30 April.
Regarding the potential impact of this crisis on global food supply chains and price stability, he further noted that disruptions in trade routes and rising transportation costs are putting significant pressure on businesses that rely on food imports.
He also called for an acceleration of investments in renewable energy, such as solar, wind, and hydropower, noting that the volatile global energy market affects countries dependent on energy imports.
According to reports from the World Food Programme, the escalation of conflicts in the Middle East has caused fuel prices to surge, which in turn has also driven up food prices across Myanmar. — Htun Htun/ZN
