BIMP-EAGA Promotes Private’s Sector Role
By Azlan Othman

Bandar Seri Begawan - The Chairman of BIMP-EAGA Business Council (BEBC), Prof. Dr. Hj Kamaluddin, has called on the local private sector, representing the various business clusters for tourism, transportation and communication, ICT, SME's and halal poultry, to actively participate in addressing the various challenges of meeting the objectives of BIMP-EAGA in order to benefit from the development of its strategic policies.

Speaking at the BEBC Brunei Chapter Cluster Meeting yesterday, Prof. Dr. Hj Kamaluddin said as Asia's largest regional grouping, BIMP-EAGA spans the territories of four Asean countries.

With the current reality for economic cooperation and globalisation, EAGA is consistent with economic policies and specific agreements between members of Asean in the implementation of its free trade (AFTA), and economists advise that EAGA could be the testing ground for AFTA's CEPT. The functionality of this growth area likewise falls squarely within the frameworks of APEC and the much larger WTO.

He added, "EAGA is definitely not a government programme. It is a joint public-private sector mechanism for bringing investment and trade opportunities to the business community, through the initiatives of the four member governments of Brunei, Indonesia, Malaysia and the Philippines".

Dubbed as "an unpolished diamond" waiting to be discovered, explored and invested, EAGA's goal is to increase trade, tourism and investments in the region through facilitating free movement of people, goods and services; share common infrastructure and natural resources and pursue economic complementation.

Elaborating on the role of the private sector, he said through its participation in the Working Groups and affiliation with the East Asean Business Council (EABC), the private sector provides valuable insights to pave the way for strategic policy recommendations.

These recommendations are taken up by the Working Groups or "elevated" to the senior officials' and ministers' meeting (SOMM) for action.

The private sector is the stakeholder of this mechanism, benefiting directly through various progress of development of the strategic policies. One of the basic characteristics of EAGA is that it is market driven, and so, this places an emphasis on the stakeholders, to play a crucial role in its development.

He also called on the participants to actively take part in preparing their concerns and present them "to us to collectively relay it during SOMM next month in Brunei". He urged them to prepare papers on related issues such as cross border intra-regional trade, especially in relation to transportation, security, movement of resource such as goods and people and accessibility to funds.

During the meeting attended by over 50 SMEs and senior government officers, the flagship projects of BIMP EAGA were highlighted including housing development project, improvement in land, air and sea transport linkages, the development of SME whereby Brunei spearheads the expanded production and export of halal poultry, while Indonesia is in-charge of improvement of business development services.

Brunei's private sector was also urged to take the business opportunities available in oil palm plantation and seaweed production business and exports which at present are nil.

Expansion of oil palm plantation and export of palm oil are spearheaded by Malaysia, while the expansion of seaweed production is taken over by the Philippines. Other flagship projects include promotion of BIMPEAGA ecotourism. -- Courtesy of Borneo Bulletin

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