Middle East conflict affects Asia Pacific economy, multiple countries call for ceasefire and diplomatic mediation

The ongoing military conflict between the United States, Israel, and Iran continues to affect the Asia Pacific region, with multiple governments and regional organizations calling for a halt to military operations. Julia Roknifard, a senior lecturer at Taylor's University in Malaysia, pointed out that Southeast Asia may face trade disruptions and rising energy costs. According to a survey by the Malaysian External Trade Development Board, 64% of businesses expect to be affected by conflicts, involving issues such as transportation delays, rising shipping and insurance costs. Retail oil prices in Cambodia have risen within a week, leading to increased costs for the garment and agricultural sectors. Sri Lankan President warns of conflict or economic impact. The South Korean stock market has fluctuated this week, with the Managing Director of the International Monetary Fund stating that conflicts may affect global energy prices and economic growth. ASEAN emphasizes energy diversification and economic integration, and countries such as Vietnam, the Philippines, and South Korea have taken corresponding measures. Chinese Foreign Minister Wang Yi has spoken with foreign ministers from multiple countries, emphasizing the adherence to the United Nations Charter. China will send envoys to the Middle East to promote a cooling of the situation.