Trade and Investment Facilitation

Thirteen of the 15 original parties have ratified the agreement.

Leaders want countries to brace for headwinds from COVID-19, supply chain disruptions, food shortage, climate change, and other threats.

An Asian Development Bank study shows how the subregion can create a single market and production base through cooperation and competition.

Growing investor interest in these key industries helps boost foreign direct investments to near pre-pandemic levels in 2021.

Interconnecting power grids in the region is a key strategy in strengthening energy security and transitioning to renewables through efficient resource sharing.

Some services have already resumed and efforts are underway to revive more.

The scheme includes key ports in Sulawesi and Kalimantan.

Digitalization of transactions is expected to reduce trade costs and enhance the country’s competitiveness.

The 2025 growth forecast sees uptrend in halal finance, food, fashion, travel, and cosmetics, as well as pharmaceuticals, media, and recreations.

Direct flights and new infrastructure projects move Tawi-Tawi closer to becoming an important gateway for Muslim Mindanao to other parts of BIMP-EAGA.