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The 48th ASEAN Summit in Cebu, Philippines, concluded with the adoption of the landmark ASEAN Leaders' Declaration on Maritime Cooperation and the approval of a new ASEAN Maritime Centre. Economic discussions centered on the 2026–2030 AEC Strategic Plan, with a clear focus on making ASEAN the world's fourth-largest economy by 2030. Leaders accelerated the ASEAN Power Grid (APG) and the ASEAN Framework Agreement on Petroleum Security (APSA) to address regional energy volatility. The summit also saw a push to finalize the Digital Economy Framework Agreement (DEFA) by November 2026, which experts estimate could inject $2 trillion into the regional economy. Amidst these advancements, President Prabowo Subianto of Indonesia called for a streamlined emergency rice reserve (APTERR) to combat climate-driven food insecurity.
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