Minster for the Brunei Darussalam Indonesia Malaysia the Philippines East ASEAN Growth Area (BIMP-EAGA), Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to the Philippines Johny Lumintang, and Economic and Commercial Counsellor Jin Yuan of the Ministry of Commerce of the People’s Republic of China attended the recent BIMP-EAGA Business Networking Session in Puerto Princesa City, Palawan. The session aims to strengthen the participation of EAGA business groups in exploring private sector-led projects designed to accelerate trade and increase investments in the sub-region. Photo from minda.gov.ph.
Ministers and senior officials of the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) convened in Palawan for their largest annual meeting to tackle priority programs and socioeconomic projects for the sub-region.
Almost 300 delegates from the four-member countries attended the BIMP-EAGA 25th Senior Officials Meeting and 20th Ministerial Meeting from November 27 to 29 to review and assess priority programs under the BIMP-EAGA Blueprint 2012-2016, which outlines the four-year socioeconomic directives of the sub-region.
They also discussed future goals as set out in the BIMP-EAGA Vision (BEV) 2025, which is anchored on the theme “Resilient, Inclusive, Sustainable and Economically Competitive (RISE) BIMP-EAGA by 2025.”
“BEV 2025, being the new development blueprint of EAGA, aims to shape the sub-region’s future as a more relevant sub-grouping that is fully integrated into the ASEAN Economic Community,” said Secretary Datu Abul Khayr Alonto, chairperson of the Mindanao Development Authority (MinDA) and Philippine signing minister for BIMP-EAGA.
He added that discussions revolved around ensuring continuity of current initiatives while pursuing new directives to enhance trading and cooperation within the sub-region.
The talks included the establishment of transport connectivity, strengthening of trade and investment facilitation services, mainstreaming of Islamic financing initiatives, and promotion of the halal industry.
“These projects are expected to serve as the catalysts for investment growth in the sub-region that will greatly benefit its small and medium enterprises, considered as EAGA’s basic production units,” said Alonto.
He added that to spur development and strengthen cooperation among the private sector, EAGA must prioritize transport connections through multimodal transport networks.
“This is specifically crucial for the Philippines, since we are not connected by land as compared to our EAGA counterparts,” Alonto added.
Being eyed to actualize connectivity is the Davao-General Santos-Bitung Roll-on Roll-off (RoRo) shipping service, expected to be launched next year.
“We see this route as one of the mechanisms that will strengthen sea trading within EAGA, which is part of our strategy to develop a virtual economic bridge for the sub-region’s traders,” Alonto said.
The senior officials and ministers also met with development partners such as the Asian Development Bank, Japan, China, and Australia’s Northern Territory to strengthen administrative and financial collaborations in support of the sub-region’s goals.
Business networking session
Business groups from the sub-region likewise came together to explore private sector-led projects designed to accelerate trade and increase investments among member countries.
The BIMP-EAGA Business Networking Session, a side event to the main meetings, saw business players from different sectors agreeing to build and strengthen linkages, and to pursue global opportunities together through the BIMP-EAGA Business Council (BEBC).
“Our primary goal in conducting this event is to find ways in working together to create more economic opportunities among the private sector players within the sub-region particularly benefiting our micro, small and medium enterprises,” said Datuk Roselan Johar Mohamed, BEBC chairperson.
He added that the BEBC will continue to support the five pillars of the BIMP-EAGA and pursue investment projects that prioritize renewable energy, tourism, infrastructure, connectivity, and agribusiness.
Some of the current projects initiated by the BEBC include the power link between Kudat, Sabah, and Bulliluyan in Palawan, the expansion of seaweed farming and the implementation of best practices spearheaded by Malaysia, and the facilitation of agri-entrepreneurship graduates through a partnership with Sandakan Polytechnic and BEBC Sabah.
The networking session is expected to come up with project proposals leading to partnerships that will further contribute to achieving the goals of the BEV 2025.
Alonto said the government will continue to collaborate with the private sector by providing the enabling environment for businesses to thrive in BIMP-EAGA.
“The continued partnership of the government and private sector in BIMP-EAGA throughout the years simply proves that economic development is a goal that is better achieved when we work together,” Alonto added.
This year’s BIMP-EAGA convention also serves to prepare the Philippines to host the 12th BIMP-EAGA Leaders Summit, one of the side events to the upcoming ASEAN Summit.
