DAVAO CITY, Philippines - Former President Fidel V. Ramos is urging the four component nations of the Brunei, Indonesia, Malaysia and the Philippines-East ASEAN Growth Area (BIMP-EAGA) geo-economic grouping to be ‘more daring’ especially in the face of the ASEAN Economic Integration 2015.
EAGA, which has a combined market of over 100 million people, comprises the sub-regional economies of East Indonesia, East Malaysia, Brunei Darussalam with Mindanao and Palawan for the Philippines.
Ramos spearheaded the formal creation of the EAGA in March 1994 after a series of consultations with the heads of states of the three other countries.
EAGA was formally launched here in Davao City at the Waterfront Insular Hotel on March 20, 1994.
“It is not enough that those in the EAGA would be more caring and more sharing. It should be ‘more daring’ for the challenges ahead,” Ramos told the over 1,000 participants to the BIMP-EAGA, Indonesia, Malaysia, Thailand -Growth Triangle (IMT-GT) held here at the SMX Center in SM Lanang Premiere.
Aimed at improving the economies of the backwaters of the component countries, except for the city state of Brunei Darussalam, EAGA was seen as a mechanism in which cross-border trading and travel were involved.
Ramos said he is glad about the success of EAGA in firming up the relations between its component countries not only in the economic ties but as well as in education, tourism and other relations.
Ramos pointed out that the potential of EAGA emerges as one of the strongest among subregional cooperations in the ASEAN.
EAGA is considered to be the global center for the production and processing of important marine products with tuna and seaweed as major exports.
EAGA also has the world’s largest concentration of the major tropical tree crops such as oil pal, rubber, coconut and cocoa.
Ramos said EAGA still has a long way to go even after 20 years since it was formally created.