Malaysia Hosts The 100th Asean Business Advisory Council (ASEAN-BAC) Meeting in Kuala Lumpur, 25 April 2024

Kuala Lumpur, Thursday, 25 April 2024 – ASEAN Business Advisory Council (ASEAN-BAC) Malaysia today is given the honour of hosting the 100th ASEAN-BAC Council Meeting and related events in Kuala Lumpur during Laos ASEAN-BAC chairmanship year.

Established in 2003, the ASEAN-BAC is the apex business council mandated by ASEAN leaders to coordinate the input and voices of the private sector in ASEAN. With a national presence in all ten ASEAN member states, ASEAN-BAC serves as a key platform for dialogue between the private sector and ASEAN Leaders, Ministers and ASEAN bodies, providing insights and recommendations to spur economic integration and growth across the ASEAN region. The chairmanship of ASEAN-BAC is parallel to that of the Government whereby Laos is the Chair for this year and Malaysia in 2025.
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.”

To celebrate this momentous occasion, ASEAN-BAC Malaysia also organised week-long events and programmes including a Welcome Reception for all delegates, an Agricultural Sector Visit by major agricultural companies of the Philippines, the ASEAN-BAC 100 Commemorative Dinner as well as the ASEAN-BAC 100 Golf Fundraiser. The Commemorative Dinner will be attended by Minister of Investment, Trade and Industry Yang Berhormat Senator Datuk Seri Utama Tengku Zafrul Tengku Abdul Aziz, former MITI Minister Dato’ Sri Mustapa Mohamed as well as ambassadors, government officials and corporate figures.

Host cum Chairman of ASEAN-BAC Malaysia, Tan Sri Nazir Razak said, “It is an honour for ASEAN-BAC Malaysia to host the ASEAN-BAC 100th Meeting and other commemorative events. We thank ASEAN-BAC Laos for giving Malaysia the opportunity for hosting. No doubt this honour is an acknowledgement of the pivotal role Malaysia played in the formation of ASEAN-BAC back in 2003. This is also a good warm-up for Malaysia before we take up the Chairmanship role next year.”

For its Chairmanship year in 2025, ASEAN-BAC Malaysia aims to organise around 40 programmes, events and meetings to promote greater intra-ASEAN trade and investment and strengthen ties among ASEAN member states. ASEAN-BAC Malaysia is actively seeking partnerships and support from the private sector to help make this a success. Companies interested in supporting the event are welcome to get in touch with ASEAN-BAC Malaysia.

“A key theme of our Chairmanship next year will be to give more meaning to being an ASEAN citizen or an ASEAN company. We believe that corporate rules and regulations across member states should not just differentiate companies as being foreign or local but also ASEAN, and that ASEAN companies are given additional perks and latitudes when compared to foreign companies. For individuals we want to carry out programmes to strengthen the ASEAN identity such as ease of travel across the region,” said Nazir.

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.