Significance, Vision, Goal and Objectives

Significance The creation of BIMP-EAGA is significant to Mindanao and Palawan for the following reasons:

1. It primarily aims to benefit the less developed and marginalized areas of the participating countries (except Brunei Darussalam).
2. It allows direct cross-border trade. (Mindanao and Palawan based businesses, for instance, do not have to go through the usual bureaucratic procedures or ship through Manila or Cebu.)
3. It gives Mindanaoans and Palawenos the opportunity to renew cultural and ethnic ties with their East ASEAN neighbors and build upon historical trade ties that date back to the 17th century. (Cultural affinity is seen as a strong binding force for BIMP-EAGA, an element that is absent in the other growth areas of Asia.)

Vision BIMP-EAGA is a major location in ASEAN having high value added agro-industry, natural resource-based manufacturing, non-resource based industries, and high-grade tourism.

Goal The major goal of BIMP-EAGA is to increase trade, tourism and investments in the growth area.

Objectives

• To facilitate free movement of people, goods and services;
• To share common infrastructure and natural resources; and,
• To pursue economic complementation.

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