ASEAN BAC was formed following decision of the ASEAN Leaders at the 7th ASEAN Summit and launched in April 2003, with the mandate to provide private sector edback and guidance to boost ASEAN's efforts towards economic integration
What is ASEAN BAC?
What ASEAN BAC do?
The ASEAN Business Advisory Council (ASEAN BAC) was inaugurated in April 2003 at the ASEAN Secretariat in Jakarta, Indonesia. Its establishment was earlier mandated by the ASEAN Leaders at their 7th ASEAN summit in Bandar Seri Begawan, Brunei Darussalam on 5-6 November 2001, as the official ASEAN linkage to provide private sector feedback and guidance to boost ASEAN's efforts towards economic integration and to identify priority areas for considerations by the ASEAN Leaders.
Objective(s) of ASEAN-BAC
ASEAN-BAC is mandated by the ASEAN Leaders as the official ASEAN linkage:
- To provide private sector feedback and guidance to boost ASEAN's efforts towards economic integration.
- To identify priority areas for consideration by the ASEAN Leaders.
- In fulfilling the mandate to provide policy recommendations to the ASEAN Leaders, ASEAN BAC organizes the annual ASEAN Business & Investment Summit (ASEAN-BIS) to coincide with the ASEAN Summits.