Philippine fuel imports from Malaysia surged in early 2026 as Manila tapped Kuala Lumpur for emergency supplies during the Middle East oil crisis, driving bilateral trade between the two nations up 9.5 percent year-on-year to US$4.21 billion from January to May.
Foreign Minister YB Dato’ Seri Utama Haji Mohamad Bin Haji Hasan reported the increase during the 9th Philippines-Malaysia Joint Commission Meeting (JCM) in Manila on August 18, noting that the growth keeps both countries on track toward their US$10 billion trade target.
Co-chaired by Hasan and Philippine Foreign Affairs Secretary Ma. Theresa P. Lazaro, the JCM reaffirmed the partnership’s momentum after a 13-year hiatus prior to 2024, with both sides highlighting energy cooperation, digital economy, and defense ties.
Trade data show Malaysia remains a key supplier of refined fuels, electronics, and palm oil.
Philippine imports of refined petroleum products from Malaysia totaled about US$703 million from January to August 2026, including an additional US$80 million linked to crisis-driven purchases between March and June.
In April alone, emergency procurement boosted diesel imports by roughly 329,000 barrels, valued at US$116.8 million-about US$35 million above normal levels.
Hasan welcomed the ‘positive momentum’ in economic ties, citing opportunities in digital connectivity and artificial intelligence.
Lazaro echoed the sentiment, stressing ASEAN’s role in strengthening intra-regional trade and resilience.
Beyond trade, the ministers reviewed cooperation in agriculture, food security, labor migration, and defense.
They marked the 10th anniversary of the Trilateral Cooperative Arrangement with Indonesia and reaffirmed Malaysia’s role as third-party facilitator in the Mindanao peace process, ahead of the Bangsamoro elections.
Both sides also exchanged views on regional flashpoints, including Myanmar, the Cambodia-Thailand border, Middle East developments, and South China Sea tensions, underscoring shared commitments to food and energy security.
Hasan closed by pledging Malaysia’s support for the Philippines’ ASEAN Chairship in 2026 and announced that Malaysia will host the 10th JCM in 2027.