"The Abu Sayyaf problem has to be settled soon because it is not only affecting Mindanao but also the other areas in the EAGA and even Southeast Asia," said John Teo, executive director of the East ASEAN Business Council based in Kuching, Sarawak in east Malaysia.
Teo arrived here the other day with a delegation of Malaysian traders exploring possible joint ventures, particularly in port operations and shipping.
EAGA, which has a market base of over 50 million consumers, is composed of the sub-national economies of east Indonesia, east Malaysia, Brunei Darussalam, Mindanao and Palawan.
EAGA areas, Teo said, are still suffering from low investor confidence, aggravated by Abu Sayyaf ransom kidnappings of mostly foreign nationals.
The extremist group, linked to the al-Qaeda international terrorist network of Osama bin Laden, snatched 20 mostly foreign tourists from the Malaysian resort island of Sipadan in 2000. The hostages were freed in exchange for huge ransoms.
The Abu Sayyaf still holds an American couple and a Filipina nurse hostage in Basilan. Filipino and American troops are currently engaged in joint military exercises on the island.