Following the 36th ASEAN Leaders Summit on 26th June, The ASEAN Business Advisory Council and its partner Joint Business Councils (JBC) and sector champions had recently submitted to the ASEAN Leaders its recommendations entitled Pathway to Recovery and Hope in ASEAN, a package of short-term proposals to facilitate coordinated, confidence-building mechanisms as countries in the region gradually re-open their economies.

“We fully believe all necessary decisions need to be made fast and can only be made through the establishment of an ASEAN High Level Special Commission (AHLSC). We offer to assist the AHLSC by setting up the Special Business Advisory Board (SBAB) so that the public and private sector can work together to revive the ASEAN economy and to plan its further expansion.”

Mr. Chris Humphrey, Executive Director of EU ASEAN Business Council said “The HSLC (High Level Special Commission) should also fast track long-delayed committed economic reforms – impacting on trade facilitation, connectivity, financial services, investments, digital transformation, support for MSMEs, among others, under the ASEAN Economic Community Blueprint 2025.” He cited that even prior to the pandemic, ASEAN has lagged way behind its reform action plan which has stymied expansion in trade and investments both from intra-ASEAN countries and global partners.

The private sector remains committed to working closely with ASEAN in the immediate possible time, as partners, to achieve faster and sweeping transformation towards a healthier, more globally competitive, more cohesive and more responsive ASEAN.

For the press release, click here

For the Package of Recommendations “A Pathway towards Recovery and Hope in ASEAN”, click here