ABAC Seeks ASEAN Finance Ministers’, Central Bank Governors’ Support to Endorse Its 2025 Growth Agenda
By Danni Haizal Danial Donald
KUALA LUMPUR, April 9 (Bernama) -- The ASEAN Business Advisory Council (ABAC) seeks the support from ASEAN Finance Ministers and Central Bank Governors to endorse its 12 strategic initiatives, which includes the ASEAN Business Entity (ABE) framework, to enhance economic integration, inclusivity and regional collaboration.
ABAC chairman Nazir Razak said Wednesday's meeting with the ministers and governors serves as a huge opportunity for the council to share its agenda to enhance economic integration and growth among member states this year.
"ABAC has identified 12 strategic innitiatives that we want to pursue this year, in which I have presented to the economic ministers a few weeks ago.
The finance ministers and central bank governors are scheduled to meet ABAC later Wednesday during the 12th ASEAN Finance Ministers' and Central Bank Governors’ Meeting (AFMGM).
The meeting will be co-chaired by Finance Minister II Amir Hamzah Azizan and Bank Negara Malaysia (Malaysia's Central Bank) governor Abdul Rasheed Ghaffour. Treasury Secretary General Johan Mahmood Merican is leading Malaysia’s delegation.
"During the meeting, I would be outlining those initiatives to get their support and endorsement," Nazir told Bernama.
Nazir also said the council will highlight financial focus areas such as the region's private markets.
"We would like to focus on areas that are more financial, such as the private markets, the focus on the ASEAN prospectus (IPOs) and carbon market trading and creating the ABE famework.
"Perhaps these would be the priorities for today's discussion," he said.
The ABE initiatives seek to introduce a new classification of companies and allowing them to have operational advantages such as free movement of people and operations.
On that note, Nazir has highlighted the significance of the ABE framework, which urges ASEAN governments to create a new business category that grants selected companies greater operational flexibility within the region.
-- BERNAMA
