In the AEC 2025 environment, it is recognized that greater involvement of the private sector and more structured participation will be beneficial to the achievement of ASEAN goals. Private sector inputs and partnerships are essential not only in designing regional strategies and initiatives, but also in identifying impediments to realizing deeper regional economic integration. Efforts must be made to engage the business sector and community-based organisations more effectively, both to provide easier access to official information on implementation, and to obtain timely feedback on policies.

As a key stakeholder in regional and global supply chains, the participation and collaboration of the private sector are crucial to the creation of a strong foundation for the establishment of the ASEAN Economic Community (AEC).

The ASEAN Business Advisory Council (ASEAN-BAC) has been appointed as the apex private sector body in ASEAN. The ASEAN-BAC will take the lead in coordinating inputs from established business councils and entities in their interactions with various ASEAN sectoral groups.

In addition, relevant ASEAN bodies are encouraged to institutionalize within each body a consultative process with lead private sector entities (business associations and business councils) as well as ASEAN-BAC representatives to support the implementation of initiatives under the sectoral work plans.

A revised Rules of Procedures for Private Sector Engagement has also been endorsed to ensure more effective Public-Private Sector Engagement.

For more information:

Enterprise and Stakeholder Engagement Division

Mr. Lukman Oesman