Report of EABC Dialogue with the ASEAN Plus Three Economic Ministers

The East Asia Business Council (EABC) held a dialogue with the ASEAN Plus Three Economic Ministers. The meeting, led by Malaysia's Minister of Investment, Trade & Industry, Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, and attended by the ASEAN Secretary-General and other Ministers from ASEAN, China, Japan and South Korea, took place at 1:05 pm on September 24, 2025. A delegation of 10 EABC representatives which include key members from Malaysia, China, Japan, the Philippines, Singapore, Thailand, and Brunei were present.

EABC's presentation centered on two main pillars: the council's ongoing initiatives and the key findings from the 2025 EABC-JETRO Business Outlook Survey and recommendations to address the challenges highlighted by the survey findings. The report highlighted several initiatives, including the RCEP Business Advisory Council's progress and the successful EABC seminars in Penang and Xinjiang. The survey findings revealed that over 70% of companies are responding to global tariff policies and requesting accelerated trade liberalisation, while a significant number of businesses are transferring production bases and still navigating digitalisation. It was also noted that while awareness of RCEP has reached over 60%, its utilisation rate remains below 20%.

Based on these findings, EABC presented a set of key recommendations:

a. Promote Digital Certificates of Origin (e-CO): To streamline processes and reduce costs, EABC called for the adoption of a common data exchange format for e-COs, a request supported by 68.3% of surveyed companies.

b. Expand the ASEAN Tariff Finder: EABC recommended extending this tool to include Dialogue Partners to improve trade transparency and support broader regional integration.

c. Establish a Coordination Committee on MSMEs: A dedicated committee would help align government and private sector efforts on critical issues like supply chain integration and digital transformation for small and medium-sized enterprises.

d. Establish an Industry–Government Monitoring Mechanism: This mechanism would provide a platform for businesses to share feedback on supply chain disruptions and enable governments to respond to industry challenges directly.

Feedback received include:

a. Indonesia - Indonesia's representative thanked EABC for its support and recommendations, particularly those related to the RCEP agreement. They emphasised that the agreement is instrumental in strengthening regional supply chains and committed to continued engagement to ensure businesses benefit. Indonesia highlighted its focus on inclusivity, with special attention to MSMEs, and the importance of sustainable growth and regional integration. The country also encouraged closing the gap between awareness and utilisation of these agreements to enhance ASEAN's supply chain resilience.

b. Philippines - The Philippines' representative expressed gratitude for EABC's presentation and supported its findings. They specifically noted the importance of digitising Certificates of Origin (e-CO) and expanding the ASEAN Tariff Finder to the Philippines to improve trade. The Philippines also voiced its support for the proposed APT committee for MSMEs and the creation of an industry-government coordination council to align government actions with business needs. The representative confirmed the country's full commitment to and support for EABC's efforts.

c. Malaysia - The Malaysian representative, commended EABC for its diligent work and valuable contributions. He strongly encouraged all ASEAN Plus Three partners to support and adopt a digital COO with a common data exchange format. He also urged all parties to "double down" on RCEP to build a stronger regional market, suggesting this could lead to a potential RCEP Leaders’ Summit. He underscored the importance of extending the ASEAN Tariff Finder to dialogue partners and welcomed the proposed APT committee for MSMEs, citing China, Japan, and Korea as global standards for technology transfer that ASEAN can emulate.

d. ASEAN Secretariat - The ASEAN Secretary-General thanked both JETRO and EABC for the insightful survey on business perception. The Secretary-General welcomed the findings, which affirm that ASEAN remains a key investment destination, and noted that the region is entering a new phase of digital and sustainable development in line with the AEC 2045 vision. They warmly welcomed EABC's recommendations and encouraged the council to help businesses effectively utilise the ASEAN Tariff Finder. He also suggested that EABC collaborate closely with the ASEAN Business Advisory Council and other sectoral groups to fully integrate business perspectives into supply chain resilience initiatives.

e. Japan - Japan's representative thanked EABC for its efforts in promoting RCEP and its valuable data on digitalisation. They expressed support for the full digitisation of trade and the harmonisation of digital trade practices.

f. Korea - Korea's representative thanked EABC and JETRO for their insightful findings and recommendations on pressing issues like supply chains and the digital economy. They stressed that while RCEP is critical, more concerted efforts are needed to ensure it is fully utilised. They also highlighted the importance of a stable supply chain and called for a substantial public-private partnership. The representative emphasised the need for a systematic data-sharing and collaboration system to help governments quickly detect problems and disruptions and expressed interest in the growing ASEAN market's digital transformation.

g. China - China's representative thanked EABC for its work and acknowledged the importance of RCEP. They found all the recommendations very useful, noting that they highlight the continuing need for effort in trade and investment. The representative expressed an expectation that EABC would continue to work and strengthen business engagement within the region.

The consultation adjourned at 1.45pm.

Delegation list:

1. EABC Chair Tan Sri Azman Hashim (Malaysia)
2. EABC Co-Chair Mr. Li Feng (China)
3. JETRO President Mr. Kataoka Susumu
4. EABC Malaysia representative Tan Sri Dato' Soh Thian Lai
5. Incoming EABC Chair Mr. Jay Yap Yuvallos (Philippines)
6. EABC Co-Chair Mr. Tetsuya Matsuoka (Japan)
7. Mr. Jeremy Tan (Singapore)
8. Mr. Kraisin Vongsurakrai (Thailand)
9. Hj Musa Hj Adnin (Brunei)
10. Mr Yasufumi Otaki, JETRO Jakarta