ASEAN Business Advisory Council Meeting with the Joint Business Councils
Penang, Malaysia, 16 January 2025
Allen Lai, Director-ASEAN of the UK-ASEAN Business Council (UKABC), recently participated in the ASEAN Business Advisory Council (ASEAN-BAC) meeting with the Joint Business Councils (JBCs) in Penang, where Malaysia’s Chairmanship of ASEAN-BAC 2025 was officially launched.
Tan Sri Nazir Razak, Chairman of ASEAN BAC 2025, unveiled ambitious initiatives and partnerships under the theme “Unifying Markets for Shared Prosperity” that aims to drive inclusive economic integration, foster innovation, and promote sustainability across the region.
The theme aligns with Malaysia’s MADANI framework reflecting the 2025 ASEAN focus on building a sustainable, inclusive regional economy. Chairman Tan Sri Nazir Razak emphasized ASEAN’s unique advantages—its position as the world’s fifth-largest economy, record foreign direct investment (FDI) in 2023, and its stance of neutrality amid global geopolitical shifts. The launch introduced 12 initiatives, 33 partnerships, and three memorandums of understanding (MOUs) aimed at accelerating economic collaboration.
Talent mobility, Artificial Intelligence, an ASEAN Business Entity framework to simplify cross-border trade, an ASEAN Carbon Market Initiative to promote environmental sustainability, an ASEAN IPO Prospectus to enhance regional capital market and a Diversity Equity and Inclusion Collective are among the key themes and priorities for the year ahead.
UKABC looks forward to hosting the upcoming UK-ASEAN Business Forum in London on 11 March which will provide a platform to deepen conversations on talent mobility, artificial intelligence, carbon markets, and diversity, equity, and inclusion. UKABC looks forward to welcoming ASEAN-BAC Malaysia and facilitating partnerships that contribute to the success of Malaysia’s Chairmanship throughout 2025.
For more information on ASEAN BAC Malaysia’s Chairmanship visit: https://aseanbac.com.my
Register HERE to watch the live stream of UKABC’s UK-ASEAN Business Forum on 11 March.
