Addressing a dialogue between leaders of ASEAN countries and representatives of the ASEAN Business Advisory Council (ABAC) – an activity within the framework of the 42nd ASEAN Summit that is taking place in Labuan Bajo, Indonesia from May 9-11, President Widodo said in the coming time, ASEAN will still face heavy challenges while geopolitical risks are still large.
In that situation, he said that countries in the region need to strengthen collaboration to maintain ASEAN as the epicentre of growth. ASEAN has enormous potential to become the centre of economic growth.
The economic potential of the region is very large, an economy that grows above the world average, a demographic bonus, then a middle class that continues to increase by 65% by 2030, he explained.
The President called for increased cooperation between the government and the business community in the region to develop a common agenda to ensure that Southeast Asia remains the global centre of economic growth.
Chairing ASEAN this year, Indonesia is hosting the 42nd ASEAN Summit which features plenary sessions and retreats, along with dialogues between leaders of ASEAN countries and representatives of the ASEAN Inter-Parliamentary Assembly (AIPA), the ASEAN Business Advisory Council (ABAC), and the High-Level Task Force on ASEAN Community’s Post-2025 Vision.
