KUALA LUMPUR: The ASEAN Business Advisory Council (ASEAN-BAC) today presented its Strategic Economic Roadmap comprising 12 flagship initiatives to ASEAN leaders, marking a significant step towards deepening regional economic integration and enhancing resilience amid shifting global trade dynamics.
The proposals were tabled during ASEAN-BAC’s 103rd Council Meeting, held in conjunction with the 46th ASEAN Summit under Malaysia’s chairmanship. Council members from across the region convened in Genting Highlands and Kuala Lumpur to review progress and finalise recommendations for submission to ASEAN heads of state.
“Our 12 flagship initiatives have been progressing steadily through formal consultations with ASEAN bodies since their launch in January,” said Tan Sri Nazir Razak, Chairman of ASEAN-BAC.
“We are now ready to present concrete proposals that will strengthen ASEAN’s economic foundations and accelerate regional integration—because time is of the essence.”
Nazir added that ASEAN is poised to shape its own destiny as a unified regional bloc:
“With strategic clarity, collaborative spirit and a renewed focus on execution, ASEAN is on course to become one of the most influential and prosperous regional groupings in the world.”
ASEAN-GCC-China CEO Roundtable: Trilateral Trade Dialogue Launched
In a major first, ASEAN-BAC hosted the inaugural ASEAN-GCC-China CEO Roundtable, bringing together top business leaders to explore cross-regional investment opportunities. The dialogue aims to build trilateral partnerships and unlock trade collaboration across high-growth sectors, positioning ASEAN as a critical gateway for two-way investment flows.
Strategic Partnerships Announced
A series of landmark collaborations were announced, witnessed by YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry, and ASEAN-BAC Chairman Tan Sri Nazir Razak:
1. Digital Trade Facilitation: MyEG & SGTraDex (Initiative No. 6)
MyEG Services Berhad and Singapore Trade Data Exchange Services (SGTraDex) signed an MoU to enable secure, seamless cross-border trade data exchange. This digital exchange platform will advance trade connectivity along the Malaysia-Singapore corridor by transitioning from paper-based systems to verifiable digital records. The partnership also includes B2B and B2B2G flows, as well as regulatory knowledge sharing.
2. Sustainability Reporting for SMEs: ASEAN-BAC & SFIA (Initiative No. 11)
To drive proportionate sustainability reporting, ASEAN-BAC teamed up with the Sustainable Finance Institute Asia (SFIA) to launch an Interoperability Sandbox under SFIA’s SAFE initiative. This pilot will support ASEAN SMEs with practical, cost-effective ESG reporting aligned with the ASEAN Simplified ESG Disclosure Guide (ASEDG), improving access to sustainable finance and supply chain transparency.
3. Digital Policy Leadership: ASEAN-BAC & Tech For Good Institute
ASEAN-BAC entered a three-year partnership with Singapore-based Tech For Good Institute (TFGI) as its official knowledge partner. The collaboration will strengthen digital economic integration efforts across ASEAN and APEC through policy research, stakeholder dialogue, and governance thought leadership.
4. Gender Inclusivity in Business: ASEAN-BAC & UN Women (Initiative No. 10)
A strategic two-year partnership with UN Women was formalised under the ASEAN Inclusivity Collective (AIC) to promote gender-responsive business conduct. The initiative focuses on board representation, gender reporting, and CEO dialogues to support inclusivity standards and practices across ASEAN’s business landscape.
5. Agricultural Technology Collaboration: ASEAN-BAC Philippines & MDEC (Initiative No. 7)
ASEAN-BAC Philippines submitted a Letter of Intent to Malaysia Digital Economy Corporation (MDEC) to jointly promote the Digital Agriculture Technology (AgTech) ecosystem. The collaboration aims to empower farmers, facilitate innovation, and enhance food security through scalable tech solutions and best practice sharing between the two nations.
The 12 strategic initiatives presented by ASEAN-BAC form a comprehensive framework to boost ASEAN’s economic resilience amid global uncertainties. The Council reaffirmed its commitment to working hand-in-hand with ASEAN Member States (AMS), regional bodies, and the private sector to turn these proposals into actionable outcomes.
“ASEAN-BAC will continue to advocate for inclusive growth and deeper integration to ensure ASEAN remains globally competitive, resilient, and future-ready,” said Tan Sri Nazir.
The initiatives will also take centre stage at the upcoming ASEAN Business and Investment Summit (ABIS) and ASEAN Business Awards (ABA) in October 2025, set to be hosted in Kuala Lumpur.
