China's collaboration with the 10-nation Association of South East Asian Nations (ASEAN) has helped boost regional growth and propped up global supply chains in the face of an era of uncertainty, according to Tan In Fong, secretary-general of the Malaysia-China Chamber of Commerce.
Speaking at CGTN's "Power of Ideas" event, Tan highlighted robust trading relationships, deep-rooted cultural connections, and complementary strengths as the foundation for ASEAN becoming China's largest trading partner.
"Why China, Malaysia and ASEAN relations matter? Because we share a long history of trade, cultural exchange and mutual growth. And over the past decades, our relationship has evolved from diplomatic ties to deep-rooted economic partnerships and milestones in regional cooperation. The China-ASEAN free trade agreement launched in 2010 has significantly enhanced the trade flows, making ASEAN China's largest trading partner," he said.
Tan noted that the China-ASEAN relationship had helped increase the region's influence in global trade and supply chain resilience.
"The regional growth and global impact for this collaboration is not just beneficial for ASEAN and China, but for the whole world, whole global economy. As we strengthen trade networks, we therefore reinforce the region's resilience and influence in global supply chains. Despite global uncertainties, China's strong domestic market, innovation-driven growth and commitment to regional integration indicate that its economic momentum will persist, and we believe that, ensuring a prosperous future for ASEAN and China," Tan noted.
China-ASEAN ties drive economic expansion, boost regional growth
Amid the rising fuel costs and airline surcharges linked to the U.S.-Israeli war against Iran, Caribbean tourism officials gathered at the 44th Caribbean Hotel and Tourism Association Forum this month and expressed cautious optimism, citing resilient visitor demand, strategic marketing adjustments, and strong seasonal performance as foundations for continued recovery.
The U.S.-Israeli war against Iran is already affecting Caribbean economies as fuel prices surge and airlines pass costs on to passengers. This not only pressures the region's tourism-dependent economies but also raises the cost of imported food, electricity, and transportation.
Since the start of the conflict, the price of Brent crude has surged nearly 50 percent, prompting airlines to find the ways to share the burden with travelers.
"The impacts are unfolding in stages. In the first place, when the uncertainty, or the disturbance occurred in the Middle Eastern region, it actually cut the supply chain to some extent to the Pacific, and people started to look at the region in particular. We amplified out marketing presence, to ensure that when people are looking for an option or places to rebook, that St. Lucia would turn up. And we've actually seen some of that result," said Louis Lewis, chief executive officer of the Saint Lucia Tourism Authority.
During the International Monetary Fund's Spring Meeting, the international financial institution expressed its concern for Caribbean tourism, warning that it could see a decline as ticket prices increase.
Lewis acknowledged the potential for longer-term disruption.
"The second thing is that if the conflict continues as a prolonged activity, we anticipate that it could impact us. We will have to diversify from our major source markets, hence the reason why we are looking at Latin America," he said.
But some of the region's top tourism officials are seeing positive signs. The region is coming off another successful year, where tourism arrivals grew by 2.5 percent, adding an additional 900,000 visitors over 2024.
"The region has been witnessing a very good winter season, and I have no doubt whatsoever that the forecast that we have for the summer will continue to be very strong," said Ian Gooding-Edghill, minister of tourism of Barbados.
Still, structural vulnerabilities remain. As an import-dependent region, the Caribbean is highly exposed to global price fluctuations. Concerns are mounting that rising prices in the United States could trigger sharper inflationary pressures, including higher operating costs in the tourism sector.
"In Saint Lucia, we just saw the cost of energy increase about 20 percent, and that's having an impact now going into the summer when our rates are lower. It rallies points to the importance of us building a bit more resilience into Caribbean tourism," said Sanovnik Destang, president of the Caribbean Hotel and Tourism Association.
Caribbean tourism shows resilience despite Middle East tension challenges
