The planned 28,000-hectare economic zone is expected to promote cross-border investment and trade linkages, enhance transport connectivity, and strengthen regional value chains.
Cooperation in customs, immigration, quarantine, and security (CIQS) is integral to BIMP-EAGA’s goal of becoming a unified production hub that is deeply integrated into the regional and global economy. Over the years, the subregion has made progress in streamlining CIQS rules, regulations, and procedures to boost the efficiency of its trading systems. At the same time, the subregional cooperation program has sought to strike a balance between easing the cross-border flow of goods and people and augmenting border control measures.
ADB organized a 3-day workshop on “SEZs as Drivers of Economic Corridors and Value Chains” on 30 July to 1 August in Jakarta in partnership with the Coordinating Ministry for Economic Affairs of Indonesia.
Robust trade networks, solid financial linkages, and substantial movement of people across Asia credited for Southeast Asia's lead in regional integration.
