ASEAN BAC is a group of prominent regional businesspeople, selected by ASEAN leaders and approved by National Chambers of Commerce and Industry. ASEAN BAC's role is to serve as the primary channel for private sector feedback and guidance to ASEAN on matters of economic integration and competitiveness. Each year, the ASEAN BAC organises a major ASEAN Business and Investment Summit (ASEAN BIS). The objectives of this gathering are to foster an exchange of views between the private sector and government within ASEAN; to facilitate trade and transaction between the business community within ASEAN; and to explore business and investment opportunities.