ASEAN-BAC Malaysia Council Members participated in the 91st ASEAN-BAC Meeting chaired by ASEAN-BAC 2022 Chair Neak Okhna Kith Meng on 26 January 2022.

ASEAN-BAC Malaysia Chairman Tan Sri Dato’ Dr Munir Majid asserted that ASEAN-BAC needs to place greater focus on climate change and environmental preservation by exploring areas such as transition finance and financing of new green operations for SMEs particularly while taking into account the interests of different ASEAN countries.

ASEAN Economic Community (AEC) Deputy Secretary-General, His Excellency Satvinder Singh urged ASEAN-BAC to provide more resources to engage in discussions on green investments and sustainable technologies. He also highlighted the ASEAN Secretariat’s five priority areas that they could cooperate with ASEAN-BAC on:

1. 1. ASEAN travel corridor framework
   2. Digital economy
   3. Supply chain management disruptions
   4. Sustainability and the circular economy
   5. SME support and development
      •  Development of credit rating and risk management systems for ASEAN SMEs
      • ASEAN ACCESS Match
      • Development of ASEAN SME Academy
      • Creation of a new tariff finder

The ASEAN Chairmanship Handover Ceremony held on 26 January 2022 saw the official handover of ASEAN-BAC’s annual chairmanship from ASEAN-BAC Brunei to ASEAN-BAC Cambodia. ASEAN-BAC 2022 has adopted the Cambodian government’s overarching theme for its chairmanship “ASEAN A.C.T. (Addressing Challenges Together)“.

ASEAN-BAC 2022 Chair Neak Okhna Kith Meng said that this year’s theme highlighted ASEAN’s spirit of “togetherness” as one community and ASEAN’s collective will to address and overcome challenges that the region faces, especially during the post-pandemic recovery period.

Keynote speaker, His Excellency Pich Rithi, Deputy Director-General of Cambodia’s Ministry of Commerce who spoke on behalf of Minister of Commerce, His Excellency Sun Chanthol, said that Cambodia’s chairmanship will promote and accelerate the efforts in utilising all sectors to build a sustainable, inclusive and resilient ASEAN community. These efforts will be implemented through four (4) Priority Economic Deliverables (PEDs) for 2022:

1. 1. Enhance digital connectivity, science and technology
   2. Narrow the development gap of ASEAN’s competitiveness
   3. Promote a more integrated, inclusive, resilient and competitive ASEAN
   4. Strengthen global ASEAN for growth and development

The ASEAN Business Advisory Council (ASEAN-BAC) Malaysia held its first Council Meeting of the year on 25 January 2022 chaired by ASEAN-BAC Malaysia Chairman Tan Sri Dato’ Dr Munir Majid. The meeting was also attended by council members Tan Sri Yong Poh Kon and Mr Raja Singham, ASEAN-BAC Healthcare Working Group (HWG) Chair Dr Khor Swee Kheng, ASEAN-BAC Malaysia Consulting Director Ms Jukhee Hong, and the secretariat team.

The meeting discussed the ASEAN-BAC Malaysia’s upcoming activities for the year, its 2022 priorities, and the ASEAN Handover Chairmanship from Brunei to Cambodia. The council agreed to continue engaging with Trade Associations, Chambers of Commerce, Professional Bodies and Foreign Business Associations and Business Councils in Malaysia to discuss challenges arising from post-pandemic recovery.