Page 29 - ASEAN BUSINESS AND INVESTMENT SUMMIT 2019

ASEAN Business & Investment Summit 2019 29

About ASEAN Business

Advisory Council

The ASEAN Business Advisory Council (ASEAN-BAC) was established by the ASEAN Heads
of State and Government (HOSGs) at the 7 ASEAN Summit in November 2001 in Bandar Seri
th
Begawan, Brunei Darussalam. Inaugurated at the ASEAN Secretariat in Jakarta, Indonesia in April
2003, ASEAN-BAC’s primary mission is to promote public-private sector partnership to achieving
the integration for the creation of an ASEAN Economic Community (AEC). ASEAN-BAC provides
private sector feedback on the implementation of ASEAN economic cooperation and identifies
priority areas for the consideration of the ASEAN Leaders.

ACTIVITIES OF ASEAN-BAC ARE TO:

a review/identify issues to facilitate and promote economic cooperation and integration;

b submit annual recommendations for the consideration of the ASEAN HOSGs; and
c organize the annual ASEAN Business & Investment Summit (ASEAN-BIS) to coincide
with the annual ASEAN Summits.

MEMBERS OF ASEAN-BAC

• ASEAN-BAC members are appointed by their respective governments comprising high-
level CEOs of companies from each member country and represented by 3 members per
member country, with one representing the interest of small and medium size enterprises.
• Government focal points, at the ministerial level, have been assigned to assist ASEAN-BAC
to fulfill its mandate.
• In carrying out its objectives, ASEAN-BAC holds regular meetings across ASEAN countries
and engages in various ASEAN level forums to meet up with government and private sector
representatives so that all stakeholders concerned have full understanding, acceptance and
ownership of the ASEAN integration process. Various committees under ASEAN-BAC have
been formed to meet its mandate.