ASEAN seeking strategic collaboration with US in terms of economy — Marcos

President Ferdinand ''Bongbong'' Marcos Jr. said that the ASEAN member-states are open to engage with the United States in having a strategic collaboration when it comes to economic concerns, which will bring concrete business outcomes for the two parties.

''We recognize that the global economic landscape is marked by uncertainty. ASEAN values its partnership with the United States and seeks to build practical, strategic, and forward-looking collaboration that delivers concrete outcomes for our businesses and citizens alike,'' Marcos said during the 13th ASEAN-US Summit in Kuala Lumpur, Malaysia.

He said the Philippines also acknowledges the importance of deepening ASEAN-US economic cooperation through the ASEAN-US Trade and Investment Facilitation Arrangement.

This framework serves as the platform for structured economic dialogue between ASEAN and the US, Marcos said.

''This facilitates cooperation on trade facilitation, MSME development, digital economy, cybersecurity, sustainability, and capacity building, among others,'' he said.

The Department of Foreign Affairs earlier said Manila would ''constructively engage'' with the US as regards economic concerns at the sidelines of the 47th ASEAN Summit and Related Summits in Malaysia.

In September, US Trade Representative Jamieson Greer said that the US is expected to finalize trade deals with more Southeast Asian countries in the coming months.

To recall, tariff rates have been set at 19% and 20% for most of the region. The Philippines has a 19% rate, Laos and Myanmar have been hit with a 40% rate, while Singapore has a 10% tariff. — RSJ, GMA Integrated News