Memorandum of Understanding between Canada ASEAN Business Council (CABC) and ASEAN Business Advisory Council (ASEAN-BAC)
On the occasion of the 25th Joint Business Council Meeting and the launch of the ASEAN Business Advisory Council (ASEAN-BAC) Malaysia 2025 Chairmanship Year, ASEAN-BAC Malaysia and Canada ASEAN Business Council (CABC) affirmed the following points on January 16th, 2025:
Collaboration between the ASEAN Business Advisory Council (ASEAN-BAC) and the Canada-ASEAN Business Council (CABC) represents a significant opportunity for enhancing economic ties and fostering sustainable growth between ASEAN and Canada. By working together, the two councils can leverage their collective expertise, networks, and resources to promote trade, investment, and innovation across both regions. The partnership will facilitate better access to business opportunities, enabling companies to navigate the diverse and dynamic markets of ASEAN and Canada, while also addressing shared challenges such as climate change, digital transformation, food security, and supply chain resilience.
ASEAN-BAC and CABC share some mutual interests in advancing the trade and investment between ASEAN and Canada through the timely conclusion of the ASEAN-Canada Free Trade Agreement (ACAFTA), accelerating digital transformation, supporting energy transition and food security, and promoting diversity and inclusive growth in ASEAN. Through joint initiatives, event collaborations, and strategic collaboration, both councils can help simplify regulatory frameworks, advocate for policies that enhance economic cooperation, and foster a deeper understanding of each region's business culture and practices.
In addition to fostering economic growth, the partnership will also serve as a platform for knowledge exchange, particularly in areas of digital innovation, green technologies, and sustainable development. The ASEAN region, with its rapid economic growth and youthful population, presents an excellent market for Canadian businesses looking to expand into Asia. Conversely, ASEAN companies can gain invaluable insights and access to Canada's advanced technologies, expertise in natural resources, and high-value sectors such as clean energy, technology, and healthcare. Ultimately, the collaboration between ASEAN-BAC and CABC will serve as a model for how business councils can effectively bridge regional gaps, create synergies, and contribute to the realization of shared prosperity in an increasingly interconnected global economy.
Through mutual collaboration, ASEAN-BAC and CABC can pave the way for a more vibrant, resilient, and sustainable future, benefiting not only their member businesses but also the broader global economy. This partnership will amplify the voice of business in promoting inclusive policies and solutions that foster long-term growth and regional integration.
The ASEAN-BAC and CABC enter into this memorandum of understanding (MoU) with the purpose to establish a cooperation framework between CABC and ASEAN Business Advisory Council to promote collaboration across multisectors of mutual interest between ASEAN-BAC and CABC, including but not limited to, investment, trade policy particularly the ASEAN-Canada Free Trade Agreement., energy transition, food security, and digital transformation.
The cooperation will focus on the following key areas:
Joint events to facilitate knowledge and commercial exchange
The ASEAN-BAC and the CABC agree to collaborate on a series of joint events, including but not limited to business forums, trade missions, networking sessions, capacity building and workshops, with the goal of fostering bilateral trade and investment between ASEAN and Canada.
The appendix of the MoU outlines potential event collaboration between ASEAN BAC and CABC in 2025 during Malaysia's chairmanship of ASEAN-BAC. Recognizing the dynamic nature of the global economy, both parties remain open to discussing and organizing additional events, including conferences, trade exhibitions, and industry roundtables, as opportunities arise to further strengthen bilateral economic ties and cooperation
Advocacy
Developing and promoting joint research or policy advocacy to inform AMS Governments on opportunities and best practices in energy transition, cybersecurity, and food security. For example, on nuclear energy with the emphasis on establishing a robust regulatory framework that safeguards safety, sustainability and innovation.
Raising public awareness and understanding of energy transition pathways, sustainable agriculture, digital transformation, and diversity, equality, and inclusivity.
Role of Parties
The CABC is responsible for coordinating with Canadian stakeholders to provide insights and resources on regulatory development, knowledge sharing on clean energy and energy transition pathways, case studies, capacity building/ workforce development, and other periphery economic benefits and industry implications.
ASEAN Business Advisory Council is responsible for sharing thought leadership and insights, facilitating access to and participation from ASEAN member states and local stakeholders, and supporting collaborative events within ASEAN.
This Memorandum of Understanding shall remain in effect for a period of 3 years from the date of signing. The parties may review and renew this MoU upon mutual agreement.
Appendix 1
List of Potential Event Collaboration between ASEAN-BAC and CABC in 2025 | |||
Time | Event | Format | Role Division |
January | |||
TBC | ASEAN-BAC DEI initiative | TBC | CABC to circulate initiative to members & wider community in support of the initiative. |
February | |||
Early Feb (TBC) | Webinar on Malaysia 2025 ASEAN Chairmanship | Virtual | CABC to host the webinar including set up the meeting link, create the publication, and invite Malaysia Permanent Representative to ASEAN to speak at the webinar. ASEAN BAC Malaysia to attend as speaker to share ASEAN BAC Malaysia’s priorities at the webinar. |
19 | CABC Nuclear Energy event at CIAC 2025 - Developing a Generation of Jobs in the Nuclear Energy Sector | In person - Singapore | CABC will be the host of the event. ASEAN BAC is invited to be the co-host of the event or attend the event in case of interest |
Jun | |||
TBC (Alternative: early July) | ASEAN BAC Malaysia’s mission to Canada | Canada | CABC to support ASEAN BAC Malaysia in setting up meetings and connecting with local government and business stakeholders in Canada during their mission to Canada. |
Aug | |||
TBC | Trade Roundtable on the ACAFTA Negotiations | Virtual | CABC will be the host of the event. ASEAN BAC to contribute as speaker to represent the views of ASEAN business in the ASEAN Canada Free Trade Agreement of the event |
Sep | |||
TBC (between 22 - 28) | Canada-ASEAN Business Forum 2025 | Kuala Lumpur, MY | CABC will be the host of the event. ASEAN BAC is invited to be the co-host for the forum. As co-host, ASEAN BAC could recommend speakers for the event and will have the branding privilege in the forum. The commitment will not include financial contribution. |
Oct | |||
23 - 24 | ASEAN Business & Investment Summit (ABIS) | Malaysia | CABC is ready to be the co-host for ABIS and support the Summit through providing speakers recommendations from Canadian business and promoting the Summit to Canadian business communities |