Energy security and trade between the economies in East Asia and ASEAN depend extensively on maritime security in the critical passages of the Malacca Strait and the South China Sea.
The Sunda Strait and the Lombok Strait are important secondary channels to link these economies to major markets in case of a catastrophe along the Malacca Strait.
While there has never been a terrorist attack or accident that effectively cordoned off the Malacca Strait, there is a need to prepare for such possibility to ensure that trade in and out of the region will not come to a near halt.
In view of the potential for disasters or security situations to affect vital waterways, there is a need for cooperation capable of averting and managing any potential crisis that could cause major economic damage to the region’s economy.
Data from the WTO underscores the urgency of the ...