Kuala Lumpur: The joint initiatives under the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) have played a vital role in narrowing the development gap within the sub-region. These efforts have been particularly impactful in connectivity, trade and investment facilitation, as well as food and energy security, said Philippines President Ferdinand Marcos Jr.
According to BERNAMA News Agency, other areas that have seen significant progress since BIMP-EAGA was launched in 1994 include ecotourism and green development. President Marcos highlighted the importance of the summit not only as a celebration of past milestones but as a reaffirmation of the shared vision for a more integrated and prosperous BIMP-EAGA. He emphasized the need for greater synergy, innovation, and political will to transform aspirations into lasting impacts for the people.
The 16th BIMP-EAGA Summit, chaired by President Marcos and held in Kuala Lumpur, marked eight years since the adoption of Vision 2025. Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim, Sultan Hassanal Bolkiah of Brunei, Indonesia’s President Prabowo Subianto, Malaysia’s Foreign Minister Datuk Seri Mohamad Hasan, and Economy Minister Datuk Seri Rafizi Ramli were also in attendance. The cooperation among BIMP-EAGA members has deepened since 2017, producing tangible benefits for communities across the region.
The BIMP-EAGA initiative boosts growth in trade, investment, and tourism through new intra-regional shipping routes and air links, as well as power interconnection projects. Other key areas of cooperation include agribusiness, tourism, the environment, and socio-cultural education. The sub-region covers all of Brunei; the provinces of Kalimantan, Sulawesi, Maluku, and West Papua of Indonesia; Malaysia’s Sabah, Sarawak, and Labuan; and, for the Philippines, the island of Mindanao and the province of Palawan.
These areas, while geographically distant from national capitals, are strategically close to one another. They account for over 60 percent of the land area of the BIMP-EAGA countries, yet make up about 18.8 percent of the total population and 18.4 percent of the labor force. BIMP-EAGA’s economy grew by 7.7 percent in 2022, with a gross domestic product (GDP) at current prices valued at US$392.1 billion, accounting for 18.9 percent of the combined GDP of the four countries.
As of October 2023, the number of priority infrastructure projects (PIPs) under BIMP-EAGA had tripled to 129, amounting to US$38.87 billion, up from only 57 projects in 2017 when BIMP-EAGA Vision 2025 was adopted.