Jakarta, Indonesia
September 5, 2023

On the sidelines of the 43rd Association of Southeast Asian Nations (ASEAN) Summit and Related Summits, President Ferdinand R. Marcos Jr. participated in a roundtable discussion between the ASEAN Business Advisory Council (ABAC) Philippines and ABAC Indonesia at the Sultan Hotel in Jakarta, Indonesia.

The discussion focused on topics such as value-added mineral economic partnerships, development of nanopreneurship and small businesses, retail services through franchising, education and other mutual priorities.

Indonesian Chamber of Commerce and Industry (KADIN) and ABAC Indonesia Chair Arsjad Rasjid P.M. and ABAC Philippines Chair Joey Concepcion delivered their welcome remarks.

They also witnessed the signing of several memoranda of understanding (MOUs) on agriculture collaborations and micro, small and medium enterprises (MSMEs) development.

On this occasion, Prime Minister Hun Manet of Cambodia joined in to witness the MOU between ABAC Philippines and ABAC Cambodia on the following:

• Mentorship channels for potential agri, agritech, food security, agribusiness and government entities;

• Trade and investment opportunities in rice and other agricultural products and services;

• Enhancing rice research & technology; and,

• Strategies to address climate change and sustainable agribiz environment

Last May 2023, President Marcos Jr. held a meeting with the ABAC during the ASEAN Leaders’ Summit in Labuan Bajo, Indonesia. In that meeting, he underscored the crucial role of nano entrepreneurs, a rapidly expanding sector that presents promising opportunities for many Filipinos with the rise of digitalization and e-platforms.

The ASEAN economy is predominantly composed of micro, small and medium enterprises (MSMEs), accounting for 97 to 99 percent of the Region’s overall economic makeup.