THE Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) is looking to expand a partnership with China to include trade and investments, the Mindanao Development Authority said on Monday.
According to MinDA, the partnership will have a major impact on the sub-region’s economy by generating investments and access to China’s market through direct trade.
The proposal to expand the partnership was brought up by MinDA Secretary Datu Abul Khayr Alonto during the China-ASEAN Business and Investment Seminar held in Guangxi last week.
“You have the technology here, but we have the natural resources,” Alonto said, referring to the Chinese.
“BIMP-EAGA is particularly looking at China’s One Belt, One Road initiative in boosting the trade and investments within and across the sub-region, while also achieving the long-term goal of a pan-Asian connectivity,” MinDA said in a statement.
China is one of the development partners of BIMP-EAGA in 2009, which has provided various technical assistance and learning exchanges which were seen to facilitate some BIMP-EAGA projects such as the submarine terrestrial cable system project.
BIMP-EAGA covers Brunei Darussalam; the 10 provinces in the Indonesian islands of Kalimantan, Sulawesi, Maluku and Irian Jaya; Sabah; the Philippines’ Mindanao and Palawan; and Malaysia’s Sarawak and Labuan.