96th ASEAN-BAC Council Meeting , 8 March

Convener: ASEAN-BAC

ASEAN-BAC Malaysia Council Members attended the 96th ASEAN-BAC Council Meeting and 18th ASEAN-BAC Annual General Meeting (AGM) on 8 March 2023. The meeting was chaired by ASEAN-BAC 2023 Chairman Bapak Arsjad Rasjid and attended by ASEANBAC Members, policy managers, initiative leads and staffers.

ASEAN-BAC Malaysia Chairman Tan Sri Nazir Razak emphasised the need for ASEANBAC to further fortify ASEAN cross-border investment as well as better mobilise multinational ASEAN companies to support regional integration.

Council Member Tan Sri Tony Fernandes, for his part, stressed the importance of having the ASEAN brand be more relevant to the people of the region. He also suggested the need for common standards in ASEAN such as in relation to ASEAN businesses gaining access to a broader market.

Ms Jukhee Hong, Chair of the ASEAN-BAC Green and Sustainable Economy Working Group (GSE WG), said that policy advocacy efforts should focus on:
1. Aligning with the Paris Agreement, particularly the Nationally Determined Contribution (NDC) targets and limiting global warming to 1.5° C;
2. ASEAN common standards for net zero disclosures and the ASEAN carbon market;
and
3. Cross-pillar and cross-ministerial collaboration at the regional and national levels.