Xinhua News Agency: Middle East Tensions Spill Over into Asia-Pacific Region, Sparking Economic Concerns, Calls for Diplomatic Mediation

Odaily News According to reports, the ongoing military conflict between the United States, Israel, and Iran continues to impact the Asia-Pacific region, causing economic uncertainty and energy security alarms. Multiple governments and regional organizations have called for an immediate halt to military actions.

Julia Roknifard, a senior lecturer at Taylor's University in Malaysia, pointed out that Southeast Asia may face negative impacts such as trade disruptions and rising energy costs. A survey by the Malaysia External Trade Development Corporation shows that nearly 64% of Malaysian businesses expect to be affected by the conflict, primarily involving shipping delays, increased maritime and insurance costs, and rising prices of crude oil-linked raw materials. Retail fuel prices in Cambodia have risen over the past week, with key garment and agricultural sectors facing higher production and logistics costs. Sri Lankan President Anura Kumara Dissanayake warned that the conflict could spill over into the country's economy. South Korea's KOSPI and KOSDAQ indices fell by 12.06% and 14% respectively this Wednesday, before rebounding on Thursday.

International Monetary Fund Managing Director Kristalina Georgieva stated in Bangkok on Thursday that if the conflict persists, it could affect global energy prices, market sentiment, economic growth, and inflation.

Countries are actively responding to the shock. Cambodian Prime Minister Hun Manet emphasized that ASEAN must strengthen regional resilience through energy diversification and deepening economic integration. Vietnam has established a specialized task force to monitor the energy market, the Philippines stated it has a 50 to 60-day buffer stock of oil, and South Korea issued a "concern" level alert for crude oil and natural gas. Australia and New Zealand are working to assist their citizens in the Middle East with evacuations.

On the diplomatic front, ASEAN foreign ministers issued a joint statement on March 4 calling for an immediate ceasefire. Chinese Foreign Minister Wang Yi held phone calls with his counterparts from Russia, Iran, Israel, Saudi Arabia, and other countries, emphasizing adherence to the UN Charter and opposing the arbitrary use of force. China will also dispatch its Special Envoy for Middle East Affairs, Zhai Jun, to the region to promote de-escalation.