B2B Connect: ASEAN Business Advisory Council (ASEAN-BAC) Malaysia Hosts The Philippines Agricultural Visit to Kuala Lumpur, 26 April 2024

Kuala Lumpur, Friday, 26 April 2024 – ASEAN Business Advisory Council (ASEAN-BAC) Malaysia received a high-level delegation from leading agricultural companies of the Philippines to Kuala Lumpur between 22nd and 24th April. The three-day visit is part of the week-long commemorative celebration of the ASEAN-BAC 100th Council Meeting which includes a series of site visits, meetings and knowledge-sharing sessions with Malaysian counterparts.

Launched in October 2023, B2B Connect (Agriculture) serves as a platform to facilitate companies all over ASEAN to identify and engage agriculture companies in other ASEAN countries to promote trade, investment or develop partnerships. The B2B Connect initiative also aims to facilitate ASEAN companies in investing in Malaysia's agricultural sector.
Chairman of ASEAN-BAC Malaysia, Tan Sri Nazir Razak said, “As part of the ASEAN integration agenda, we want to facilitate actual deals, trade or investment between ASEAN companies. The best way to do this is for leaders of companies to meet and engage in meaningful dialogues through our B2B Connect platform.”

Chairman of ASEAN-BAC Malaysia, Tan Sri Nazir Razak said, “As part of the ASEAN integration agenda, we want to facilitate actual deals, trade or investment between ASEAN companies. The best way to do this is for leaders of companies to meet and engage in meaningful dialogues through our B2B Connect platform.”

Companies from the Philippines which are involved in the visit include Bounty Fresh, Kennemer Foods International, Lionheart Farms, Pro Foods, Yovel East Agriventures, LT Group, Universal Leaf, I’mpact Food Systems Asia and IBA Botanicals, whereas the Ministry of Agriculture and Food Security, KLK Berhad, Aerodyne, CIMB, Sime Darby Plantation and Farm Fresh represented Malaysia.

The setting up of B2B Connect (Agriculture) signifies ASEAN-BAC Malaysia’s commitment to operationalise the signing of a Memorandum of Understanding (MoU) between ASEAN-BAC Malaysia and ASEAN-BAC Philippines, witnessed by the Philippine President Ferdinand Romualdez Marcos Jr. on 27 July 2023 in Kuala Lumpur.

Chair of B2B Connect (Agriculture), Dato’ Sri Mustapa Mohamed when met at the event shared, “It is pivotal for us to focus our efforts to facilitate and support our agricultural businesses to explore opportunities in ASEAN. We will start with the Philippines with crops such as palm oil, rubber, poultry and dairy, rice as well as other fruits, whereby both countries’ companies can leverage each other’s capital and expertise and by doing this, we can collectively work towards achieving our shared regional goal of high-tech agriculture, food security, poverty reduction and sustainable development.”

The visit of the Philippines’ agricultural delegation to Malaysia is expected to further strengthen the economic ties between the two nations, opening new avenues for partnership and mutual benefits in the agricultural domain. Companies interested in taking part in the B2B Connect initiative are welcome to get in touch with ASEAN-BAC Malaysia.

ASEAN-BAC has been mandated by the ASEAN Leaders to provide private sector feedback and guidance to boost ASEAN’s efforts towards economic integration since 2003. Its council members are appointed by the respective Economic Ministries of ASEAN member states and are high-level CEOs of companies from each member country. ASEAN-BAC Malaysia is currently represented by Tan Sri Nazir Razak, Tan Sri Tony Fernandes, and Mr. Lim Chern Yuan.