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PIA Press Release
2009/11/09

Mindanao biz sector to benefit from BIMP-EAGA summit

by RG Alama

Davao City (9 November) -- The Agri-business sector will benefit from renewed commitment from BIMP-EAGA (Brunei-Indonesia-Malaysia Philippines East Asean Growth Area) to pursue the growth area's vision particularly in developing the area as the region's food basket.

According to Vicente Lao, President of the Mindanao Business Council the 6th BIMP-EAGA Leader's summit held last October 25 in Hua Hin, Thailand have emphasized the vision of BIMP EAGA as the food basket in the region and also the ecotourism destination.

Lao said the initiatives would bode well for the agri-business sector in Mindanao as these would spur new investments and interests in further developing the agriculture potentials of the island.

He said in the summit the BIMP-EAGA Leaders provided strategic directions in shaping EAGA's future they also committed to work for its implementation one of which is resolving bottlenecks in the implementation of its initiatives.

During the summit, the BIMP-EAGA Leaders have agreed to intensify agriculture, aquaculture and fisheries sectors. The countries' agricultural ministers have been directed to take the lead in formulating strategies and exploring innovative ways to enhance the potential of BIMP-EAGA as the food basket.

Also during the Summit, a Framework of Economic Cooperation between BIMP-EAGA and the Peoples Republic of China was signed. The cooperation agreement will encourage and promote technical cooperation in the areas of agriculture, tourism and infrastructure development. (PIA XI) [top]

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