The Chairperson of the ASEAN Business Advisory Council (BAC), Arsjad Rasjid, recently expressed optimism that Southeast Asia will become a center of global stability and economy by 2045. At the ASEAN Leaders’ Interface Meeting, he informed representatives that the ASEAN-BAC and related stakeholders will work together to outline a road map that strengthens centrality, implements innovative solutions, and advocates inclusivity to increase regional resilience, thereby making ASEAN a growth center.
As a strategic partner of the government from the business sector, ASEAN-BAC will continue to support the region as an area that upholds inclusivity for all parties involved to help them keep growing together. Rasjid added that no member country will be left behind, and all ASEAN members will grow together and become part of ASEAN’s journey as an epicenter of global economic growth.
Moreover, ASEAN-BAC is always providing various strategic suggestions from the private sector to the ASEAN leaders, with the attempt of encouraging stronger regional economic integration and promoting projects that have immediate and long-term impacts. Bernardino Vega, the Deputy Chairperson of ASEAN-BAC, stated that ASEAN-BAC has continued to encourage the implementation of a single market program through non-tariff barrier regulation, service trade integration, as well as better flow of investment, skilled workers, business actors, and capital.
To aid in achieving this goal, ASEAN-BAC will provide recommendations on several issues, namely digital transformation, sustainable development, health security, food security, and trade and investment facilities. ASEAN-BAC has also developed various legacy projects to address the issues. The projects are the ASEAN Quick Response (QR) Code, Marketplace Lending Platform, Wiki Entrepreneur, ASEAN Net Zero Hub, Carbon Center of Excellence, ASEAN One Shot Campaign, Inclusive Closed-Loop Model for Agricultural Product, and ASEAN Business Entity.
Gil Gonzales, the Executive Director of ASEAN-BAC, noted that these five main issues and eight legacy projects have significant relevance and broad impact on the ASEAN community. These are what ASEAN-BAC will encourage at the meeting with heads of state of ASEAN member countries. ASEAN-BAC is a non-governmental organization comprising prominent business leaders from all ASEAN countries and acts as a liaison between the business sector and governments.
It provides advice and recommendations to governments on economic and business policies to advance ASEAN as a competitive and sustainable economic region. The ASEAN Leaders’ Interface Meeting with Representatives of ASEAN-BAC was one of the series of meetings held amid the 42nd ASEAN Summit in Labuan Bajo, West Manggarai District, East Nusa Tenggara (NTT) Province.
The initiatives of ASEAN-BAC towards economic integration and strengthened regional resilience have set Southeast Asia on a path towards becoming a global economic center. By working closely with national governments and other stakeholders to ensure inclusivity, the business body has effectively placed ASEAN at the forefront of sustainable development and economic growth.
