JAKARTA, INDONESIADepartment of Trade and Industry (DTI) Secretary Fred Pascual participated with fellow Trade Ministers in the 22nd ASEAN Economic Community (AEC) Council Meeting held on 7 May 2023 in Jakarta, Indonesia. The AEC Council, which met ahead of the 42nd ASEAN Summit, deliberated on the need to further strengthen ASEAN’s sustainability initiatives, particularly in pursuing a transition to clean energy and the development of a regional electric vehicle (EV) ecosystem.

The Ministers finalized and endorsed for adoption of ASEAN Leaders the Declaration on Developing Regional Electric Vehicle Ecosystem. The Philippines supported this declaration and urged relevant ASEAN sectoral bodies to ensure that the work in crafting a regional policy framework will put ASEAN in a stronger position to attract hi-tech investments further and create high-value jobs, especially with the ongoing global shift to EVs.

Secretary Pascual noted that the declaration complements the Philippines’ recently-enacted Electric Vehicle Industry Development Act (EVIDA), which reflects the country’s commitment toward a greener mobility and fossil fuel-free environment. Further, he shared that the Philippines is currently working on the EV Incentive Strategy to fully implement the said law.

Finally, the Ministers welcomed Timor-Leste’s inaugural participation in the 22nd AEC Council Meeting and looked forward to their further engagement in senior-level meetings under the AEC. *

Date of release: 08 May 2023