BUSINESS leaders from across Southeast Asia, senior government officials, diplomats and development partners will gather in Makati City next month for the inaugural Asean-Business Advisory Council (Asean-BAC) Retreat, the soft launch of the Philippines’ Asean-BAC chairmanship in 2026.
In a statement on Sunday, Joey Concepcion, chair of Asean-BAC Philippines and founder of Go Negosyo, said digital innovation, sustainability and entrepreneurship will be the central theme of the Philippines’ chairmanship next year.
The inaugural retreat themed “Asean-BAC Reimagined” will be held on July 7 to 8, 2025, where Asean-BAC and economic ministers from the 10-member Asean bloc will discuss collaboration on key economic issues and opportunities within the region
Asean-BAC was launched in April 2003 to provide private sector feedback to boost the region’s efforts towards economic integration and to identify priority areas for consideration of Asean Leaders. Its role is focused on reviewing and identifying issues to facilitate economic cooperation and integration, the Asean website says.
“This is not just a meeting—it is a reset. In a world shaped by disruption and divergence, Asean-BAC must evolve to remain a credible and effective platform for the private sector. This first-ever retreat reflects our collective responsibility to strengthen our relevance and impact for the region,” Tan Sri Nazir Razak, Asean-BAC 2025 chair and head of Asean-BAC Malaysia, said.
The Council members, each appointed by their respective heads of state or government, will review their mandate.
“We envision an Asean where no one is left behind; where digital innovation, sustainability, and entrepreneurship fuel inclusive growth that uplifts people, empowers communities, and benefits all nations,” Concepcion said.
The retreat will also help bridge Malaysia’s Asean 2025 theme of “Inclusivity and Sustainability” and the Philippines’ 2026 agenda, “Driving ASEAN Prosperity: Further, Faster, Together.“
“This is the right moment to recalibrate,” Concepcion said. “With the Philippines set to chair Asean next year, we must be ready to lead with unity, purpose and impact.”
Asean data showed the region’s GDP reached $3.8 trillion in 2023, positioning it as the fifth-largest economy in the world, contributing 3.6 percent to global GDP.
Asean’s total international merchandise trade in 2023 fell 8.3 percent to $3.53 trillion from $3.85 trillion in 2022, with $1.8 trillion of exports and $1.7 trillion of imports.
Key commodities like electrical machinery and mineral fuels comprised 41 percent of Asean’s total trade.
The data showed foreign direct investment inflows to Asean reached a record $230 billion in 2023.
