MANILA —An expert on East Asian affairs urged ASEAN to deepen its economic integration to prevent any damage to the economy that geopolitical and trade tensions may cause.

Professor Bert Hofman, director of the East Asian Institute of the National University of Singapore, said deepening the ASEAN Economic Community (AEC) will “increase its economic attraction” to the EU, US, and China.

The AEC, the region's end goal of economic integration, envisions ASEAN as a single market and product base, “a highly competitive region, with equitable economic development, and fully integrated into the global economy,” according to the ASEAN website.

Hofman also urged ASEAN to deepen and broaden free-trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to include new members and more ambitious standards that “will lift all boats.”

The RCEP is a free trade agreement between the ten member states of ASEAN and its five FTA partners: Australia, China, Japan, New Zealand and the Republic of Korea.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a multilateral free trade agreement involving 11 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam meant to “reduce trade barriers and facilitate trade.”

“Second that I believe ASEAN countries can do is to continue to use the fora that ASEAN countries is already a part of, RCEP, CPTPP, as fora to continue the dialogue, to continue to include countries into this liberal market order…, to resist those forces that lead to more protectionism,” Hofman said.

He also urged ASEAN to participate in the Indo-Pacific Economic Framework for Prosperity (IPEF) economic initiative launched by US President Joe Biden which “is all that the US can do for now” and retain the option for the US “to join CPTPP once they are politically ready.”

Hofman also urged the expansion of the ASEAN Defense Ministers' Meetings as a “potential mechanism for indirect US-China dialogue.”

Hofman made his remarks at the Ambassador Chito Sta. Romana Memorial Lecture organized by the Philippine Association for Chinese Studies (PACS), in cooperation with Asian Center in UP Diliman.

The lecture was organized by the Philippine Association for Chinese Studies (PACS), in cooperation with Asian Center in UP Diliman in memory of the late former Philippine Ambassador to China Chito Sta. Romana.

• Marcos Jr: Asia-Pacific countries must move away from geopolitical rivalry
• Marcos Jr tackles regional, geopolitical issues at ASEAN summit

Watch more News on iWantTFC