EAGA is an acronym that stands for the East ASEAN Growth Area. It is an economic cooperation initiative that focuses on fostering economic growth and development in the eastern part of the Association of Southeast Asian Nations (ASEAN).
The East ASEAN Growth Area encompasses the less developed regions of Brunei Darussalam, Indonesia, Malaysia, and the Philippines. It is aimed at promoting economic integration, investment, and development in these regions by leveraging their potential and resources.
This collaborative effort aims to achieve inclusive and sustainable growth by enhancing connectivity, facilitating trade and investment, promoting infrastructure development, and improving the overall economic and social well-being of the people in the region.
EAGA also encourages cooperation in various sectors including agriculture, tourism, transportation, energy, and information and communication technology. By coordinating policies and promoting closer ties among member nations, EAGA seeks to create a conducive environment for economic activities and improve living standards in these less developed areas.
Additionally, EAGA promotes cross-border trade and investment by implementing policies that reduce barriers, such as tariffs and non-tariff measures, and streamlining customs procedures to facilitate the flow of goods and services.
Overall, EAGA aims to bridge the development gap among the ASEAN member countries by focusing on the specific needs and challenges faced by the less developed regions in the East ASEAN Growth Area.