A delegation representing 27 businesses from Sabah, Malaysia participated in business-to-business meetings held in connection with the Strategic Planning Meeting (SPM) of the Brunei Darussalam, Indonesia, Malaysia, the Philippines – East ASEAN Growth Area (BIMP-EAGA).

“We welcome this initiative from the business sector of Sabah, since this will greatly contribute to our efforts of enhancing trade and investments within BIMP-EAGA,” said Mindanao Development Authority (MinDA) Undersecretary Janet Lopoz.

More than 20 business representatives from Mindanao met with the Sabah delegation and discussed potential areas for collaboration, particularly in banana production, halal restaurant, coffee shop franchising, logistics, tourism, construction, and other agri-based commodities.

A businessperson from Palawan also participated in the meetings to explore partnerships in tourism development between Palawan and Sabah.

“We expect succeeding business sessions to occur within the year to allow for the finalization of partnerships and joint ventures that were developed from these business-matching sessions,” explained Lopoz.

Mindanao and Palawan are the two focus areas of the Philippines in the BIMP-EAGA sub-regional grouping.

BIMP-EAGA

Under its Trade and Investment Facilitation Cluster, BIMP-EAGA pursues small and medium enterprises (SME) development by streamlining of trade facilitation processes within the sub-region and beyond. Business and trade missions are regularly organized to engage the private sector, specifically those representing the SMEs in enhancing the sub-region’s business climate.

Regular investment fairs and business conferences are also being conducted such as the BIMP-EAGA and IMT-GT Trade Fair and Business Leaders’ Conference to facilitate trade and investments among member countries.

“The growth and success of BIMP-EAGA is truly dependent on the commitment and active participation of our private sector, and enabling policies from the governments of the member countries,” said Department of Trade and Industry (DTI) Undersecretary Prudencio Reyes, Philippine Senior Official to the BIMP-EAGA.

Reyes added that after the huge turnout of participants from both the government and private sectors in the SPM, the sub-region is anticipating another productive year with more viable projects and business partnerships in the pipeline. -- MinDA