| Brunei Update | November 15, 2017 Authors: Kim Yaeger, Artha Sirait and Gaofan Zhang |
| THE COUNCIL'S TAKE |
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His Majesty Sultan Hassanal Bolkiah Represented Brunei at the East Asia Summit and the APEC Summit His Majesty Sultan Haji Hassanal Bolkiah represented Brunei at the 25th APEC Economic Leaders' Meeting in Da Nang, Vietnam on November 11, in which he expressed Brunei's hope to build a positive momentum in the global economy. He emphasized that APEC must continue to emphasize global trade to boost productivity, foster innovation, create jobs and achieve sustainable development in the region. Brunei's presence at the APEC Summit is a positive move to reiterate the benefits of economic integration in the region, which complement the Bruneian government's efforts to enhance the marketability of the country. A number of regional initiatives such as the establishment of the ASEAN Economic Community, and the recent revival of TPP-11 agreement (now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership) are likely to serve as catalysts for more domestic economic reforms in Brunei, which by many accounts are likely to also create challenges and opportunities associated with greater economic diversification. The government of Brunei is hopeful that together, all these regional initiatives will open up a plethora of new business opportunities for Brunei. Following the APEC Summit, Sultan Hassanal Bolkiah attended the 12th East Asia Summit in Manila, Philippines on November 12. The Sultan stressed the importance of the East Asia Summit as a mechanism for strategic dialogue and cooperation to address the various interests and concerns of the region; in particular Brunei looks forward to the finalization of the new Manila Plan of Action which will outline practical ways for East Asia Summit member states to work together in finding solutions to common challenges. Brunei highlighted environmental concerns and health matters as their priority areas. On the sideline, Sultan Hassanal Bolkiah, accompanied by Minister at the Prime Minister’s Office and Second Minister of Foreign Affairs and Trade, YB Lim Jock Seng held a bilateral meeting with Indian Prime Minister, Narendra Modi to discuss potential cooperation between the two countries. In addition, the Sultan also held a bilateral meeting with President Tran Dai Quang of Vietnam in which the two explored further cooperation on politics, defense, agriculture, labor and education. Recently in September, Brunei and China through their heads of state entered into close cooperation particularly on oil and gas; infrastructure; and health in which the Sultan credited China as a major contributor towards boosting the regional development and prosperity; although no bilateral meeting took place between the two on the sideline of the APEC Summit or the East Asia Summit. |
| IN THIS UPDATE |
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| Regional Affairs
Brunei’s chief trade negotiator set to head ASEAN The Myanmar Times 9th Nov 2017 Brunei’s regional multilateral relations Theworldfolio 9th Nov 2017 Russia, Brunei Sign Agreement on Visa-Free Travels Sputnik 8th Nov 2017 Singapore, Brunei launch second leg of exhibition on bilateral relations The Straits Times 4th Nov 2017 UK looks to further strengthen economic ties with Brunei – Borneo Bulletin Online 1st Nov 2017 His Majesty in Philippines to attend Asean summits – Borneo Bulletin Online 13th Nov 2017 Brunei’s bid to be ‘Islamic Singapore’ is failing ASEAN Today 10th Nov 2017 His Majesty in Vietnam to attend APEC meeting Borneo Bulletin Online 10th Nov 2017 Brunei’s tourism initiatives start reaping rich dividends – Borneo Bulletin Online 9th Nov 2017 Brunei to host Asian Development Tour in March Borneo Bulletin Online 29th Oct 2017 Uk appoints new trade envoy for Brunei Borneo Bulletin Online 28th Oct 2017 US Navy to deploy T-EPF-3 vessel to Brunei for CARAT exercises Borneo Bulletin Online 7th Nov 2017 Singapore, Brunei Conclude Military Exercise The Diplomat 13th Nov 2017 US, Brunei Launch Maritime Exercise The Diplomat 8th Nov 2017 Brunei’s tourism initiatives start reaping rich dividends Borneo Bulletin Online 9th Nov 2017 Brunei heads further downstream Theworldfolio 6th Nov 2017 Brunei named most improved economy in the world The Jakarta Post 1st Nov 2017 Brunei aims to bring in more tourist dollars The Straits Times 30th Oct 2017 Brunei’s blueprint for the future of banking Theworldfolio 9th Nov 2017 Rapid strides for cardiology in Brunei Borneo Bulletin Online 6th Nov 2017 Cardiovascular disease among leading causes of deaths in Brunei: health minister Xinhua 4th Nov 2017 |