In a milestone initiative signaling a renewed commitment to regional economic cooperation, the ASEAN Business Advisory Council (ASEAN-BAC) held its inaugural ASEAN-BAC Retreat last July 7–8, 2025, in Makati City. This first-of-its-kind gathering marks a pivotal step in redefining the Council’s role in ASEAN’s integration agenda and advancing its long-term strategic vision.

The retreat also features a high-level diplomatic and business reception, serving as the soft launch of the Philippines’ ASEAN-BAC Chairmanship in 2026. With the theme “Reimagining ASEAN-BAC,” the retreat brought together business leaders from across Southeast Asia, senior government officials, members of the diplomatic corps, and development partners—reflecting a whole-of-region approach to driving ASEAN prosperity.

“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,” said Jose Ma. Concepcion III, Chair of ASEAN-BAC Philippines and the incoming ASEAN-BAC Chair for 2026.

Sharpening ASEAN’s Strategic Focus

The retreat was led by Tan Sri Nazir Razak, ASEAN-BAC 2025 Chair and head of ASEAN-BAC Malaysia, and co-chair Concepcion. The Council members—appointed by their respective Heads of State or Government—used the retreat as a platform to reassess their collective mandate and align on long-term priorities.

“ASEAN-BAC remains focused on unlocking investment pipelines that accelerate infrastructure, innovation, and inclusive business growth across the region,” said Tan Sri Nazir. ”But to do that, and amid increasing disruption and diverging global priorities, ASEAN-BAC must transform to become a more agile, forward-looking, and effective voice for the private sector in the region.”

Philippines Outlines Key Priorities for 2026

During the retreat, ASEAN-BAC had a dialogue with Department of Trade and Industry Secretary Cristina Roque, Philippines’ ASEAN Economic Minister, who outlined key areas being considered for the ASEAN Chairmanship in 2026. These included:

• Empowering MSMEs
• Developing digital talent
• Promoting creative industries
• Advancing digital trade and the digital economy
• Enhancing economic security
• Strengthening energy resilience and transition

“These pillars reflect our aspiration for a more inclusive, digitally enabled, and resilient Philippines and ASEAN,” said Secretary Roque. “We call on our ASEAN family to look at the Philippines as a trade and investment destination. We are ready to lead with purpose and partnership.”

Concepcion emphasized the importance of making ASEAN meaningful to the everyday lives of its citizens, particularly micro, small, and medium enterprises (MSMEs) and those in the agriculture sector.

“ASEAN is not for big business alone. We are here so that small businesses – the MSMEs, those led by women, youth, and farmers — can scale up. Whenever we host events like the ASEAN Summit, the biggest concern of the people is that it will cause traffic; we have to change that. It has to become relevant in the lives of every citizen in the region. To bridge the gap between high-level dialogue and grassroots impact, we must humanize ASEAN. We must make its purpose and benefits very clear.”

Ensuring Continuity and Legacy

In a call for institutional resilience, Tan Sri Nazir also highlighted the importance of ensuring the sustainability of the Council as an organization beyond changing leaderships and annual chairmanships.

“We must move from event-driven action to mission-driven continuity,” Nazir noted. “This retreat is the first step toward building a stronger, more future-proof ASEAN-BAC.”

The retreat was seen as helping to bridge Malaysia’s 2025 ASEAN Chairmanship theme of “Inclusivity and Sustainability” with the Philippines’ 2026 agenda: “Driving ASEAN Prosperity: Further, Faster, Together.”

“With the Philippines set to chair ASEAN next year, this retreat is helpful for us in making our term productive and meaningful for the entire region,” Concepcion said. “Thus, the reception is also more than a celebration—it’s a signal of unity. The road to a successful ASEAN-BAC Chairmanship starts with strong partnerships between the government and the private sector, working together to deliver real, lasting impact for our people.”