ASEAN Leaders Respond Positively To ASEAN-BAC’s 12 Priority Economic Deliverables

By Karina Imran and Fatin Umairah Abdul Hamid

KUALA LUMPUR, May 26 (Bernama) -- Southeast Asian leaders have responded positively to the ASEAN Business Advisory Council’s (ABAC) 12 priority economic deliverables (PEDs) aimed at deepening regional integration.

ASEAN-BAC Malaysia chairman Tan Sri Nazir Razak said the PEDs are key economic initiatives designed to boost regional growth and integration, particularly under the ASEAN Economic Community (AEC) pillar.

Among efforts to deepen economic integration include promoting inclusive growth, advancing sustainability and expanding the digital economy.

“These projects are going to take time as the officials will have to go through the policy implications and policy changes,” he told the media after the ASEAN leaders’ interface with ASEAN-BAC representatives here today.

Among other PED initiatives are the flagship ASEAN Business Entity (ABE) and the ASEAN Initial Public Offering (IPO) prospectus.

Nazir said that ASEAN businesses should strengthen collaboration and seize opportunities within the regional bloc amid global economic uncertainty.

The public and private sectors across ASEAN, as a region, must work together to capitalise on emerging prospects, he said.

“We all have to work together because we can do a lot more. Certainly, we take heed of what the government and the leaders are saying, and we want to do it.

“Of course, there are certain policy changes that would be helpful to us and that's what we're pushing for,” he added.

The interface was held in conjunction with the 46th ASEAN Summit.

The 46th ASEAN Summit spans two days starting today, and Malaysia is also hosting two key high-level engagements that coincide with it — the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the inaugural ASEAN-GCC-China Summit.

This year marks Malaysia’s fifth time as ASEAN Chair, having previously held the chairmanship in 1977, 1997, 2005, and 2015.

-- BERNAMA