BIMP-EAGA Triples Priority Projects As Sub-Regional Cooperation Deepens
The BIMP-EAGA economy grew by 7.7% in 2022, with gross domestic product at current prices reaching US$392.1 billion, accounting for 18.9% of the combined GDP of the four participating countries. The sub-region covers over 60% of land area among the member states, yet accounts for only 18.8% of their population and 18.4% of the labour force.
Philippines President Ferdinand Marcos Jr. highlighted these figures at the 16th BIMP-EAGA Summit, held in Kuala Lumpur, which he chaired. He emphasised that the initiative has been instrumental in reducing development disparities within the sub-region.
'These efforts have been particularly impactful in connectivity, trade and investment facilitation, as well as food and energy security,' said Marcos.
Other areas showing significant progress since BIMP-EAGA's launch in 1994 include ecotourism and green development, he said.
'As we convene today, let us take this opportunity not only to celebrate these milestones but also to affirm our shared vision for a more integrated, prosperous and resilient BIMP-EAGA,' Marcos added.
'The path ahead calls for even greater synergy, innovation and political will. I am confident that through our cooperation, we will continue to transform these aspirations into a lasting impact for our people.'
Marcos noted that this year's summit holds special significance as it commemorates eight years of progress under Vision 2025. Since 2017, cooperation among BIMP-EAGA members has delivered tangible benefits across communities in the region.
'Together, we have laid down stronger foundations for inclusive, sustainable and innovation-driven growth.'
BIMP-EAGA promotes growth in trade, investment and tourism through new intra-regional shipping routes, air connectivity and power interconnection projects. Its cooperation portfolio also includes agribusiness, tourism, environmental initiatives and socio-cultural education.
Also in attendance at the summit were Malaysia's Prime Minister Datuk Seri Anwar Ibrahim, the Sultan of Brunei Sultan Hassanal Bolkiah, Indonesia's President Prabowo Subianto, Malaysia's Foreign Minister Datuk Seri Mohamad Hasan, and Economy Minister Datuk Seri Rafizi Ramli.
The BIMP-EAGA sub-region includes all of Brunei; Kalimantan, Sulawesi, Maluku and West Papua of Indonesia; Sabah, Sarawak and Labuan of Malaysia; and Mindanao and Palawan in the Philippines. Despite being far from national capitals, these areas are strategically close to one another, underpinning regional cooperation. Related
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