MALAYBALAY CITY (MindaNews/14 April) – Top business players from four countries belonging to the Association of South East Asian Nations will gather here from Oct. 23-26 for an event that aims to attract foreign investments and promote regional cooperation within Asia and the Pacific region.
Participants to the 2nd BIMP-EAGA and IMT-GT Trade Fair and Business Leaders’ Conference 2014 will be coming from Brunei Darussalam, Indonesia, Malaysia, the Philippines, and Thailand, the Mindanao Development Authority said.
BIMP-EAGA stands for Brunei Darussalam Indonesia Malaysia the Philippines East ASEAN Growth Area, while the IMT-GT stands for Indonesia Malaysia Thailand Growth Triangle.
“While both growth triangles have their respective road maps, this convergence will enhance our competitiveness by turning the sub-region into a single investment area and production network, thereby accelerating economic growth in Southeast Asia,” MinDA, the Philippine Coordinating Office for BIMP-EAGA, said in a statement.
The international fair and business conference will be held at the SM Lanang Premier’s SMX Convention Center and will feature a series of sub-events designed to strengthen economic, social, and cultural relations in preparation for the ASEAN integration in 2015, the statement said.
Melaka in Malaysia hosted the first holding of the conference in December 2012.
Key exporters and producers in the ASEAN region will discuss strategies as well as the potential impact of the ASEAN integration on small and medium enterprises and on their participation in the supply chain, MinDA said.
The confinement will also tackle climate change adaptation, aligning the four pillars of BIMP-EAGA (connectivity, food basket, tourism, and environment), and investment programs within the Mindanao Development Corridors.
MinDA noted that the four-day activity is also a commemorative celebration of BIMP-EAGA’s 20th year.
BIMP-EAGA was launched in 1994 in Davao City as a key strategy to accelerate social and economic development of less developed areas in participating countries.
IMT-GT was formed in 1993 with similar goals of promoting trade, investment, and tourism in less-developed states and provinces in Sumatra, Indonesia, Peninsular Malaysia, and Southern Thailand.
Both sub-regional groups aim to harness private sector leadership in initiatives to promote cross-border investments and improve connectivity. (MindaNews)