Top Story: 77pct of ASEAN integration completed, target achievable, says Brunei
ASEAN is on target to achieving its integration goal by 2015 with 77 percent of work completed and would intensify engagement with members to improve economic synergies, Brunei's leader said here on Thursday. The Chairman's Statement added that the progress of the ASEAN Economic Community (AEC) was significant with 259 measures or 77. 54 percent of the blueprint implemented.
HIGHLIGHTS OF THE 22nd ASEAN SUMMIT:
- ASEAN wants talks on HK FTA to begin: The agreement would cover the elimination and reduction of tariffs and non-tariff barriers; liberalization of trade in services; promotion and protection of investment; as well as a dispute settlement mechanism.
- RCEP negotiations to begin May 9: 16 nations would participate in the first round of talks. It was scheduled to last five days in Brunei and would include China, Japan, South Korea, Australia and India - alongside 11 other countries of the Asia-Pacific region.
- Common ASEAN visa proposed for business mobility, tourism: Asked whether this could mean free movement of labour among ASEAN nationals, ASEAN Secretary-General Le Luong Minh replied that "only recognised professionals" will be allowed to move freely. He did not specify what sort of professionals, but stated that it would not be restricted to any industry and will depend on the labour demands of the individual country.
Leverage on Brunei-ASEAN FTAs for market access | Brunei Times, April 25
Potential investors can leverage on existing free trade agreements (FTAs) between Brunei and the Association of Southeast Asian Nations (ASEAN) as well as its dialogue partners, as a tool to gain greater market access for goods and services, said His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam. In an interview with the Oxford Business Group (OBG) for the latest edition of "The Report: Brunei Darussalam 2013", the monarch said Brunei is certainly promoting its FTAs to attract more foreign direct investment into the Sultanate.
Respect IP rights to spur creativity: AG | Brunei Times, April 27
Respect for intellectual property (IP) rights is needed if creativity is to blossom, the attorney general said during the Brunei celebration of World Intellectual Property Day yesterday. The annual event themed "Creativity: the Next Generation" was held at the iCentre in Anggerek Desa.
UBD signs MoU with US university | Brunei Times, April 27
A Memorandum of Understanding (MoU) and Cooperation Agreement was signed between the Institute of Policy Studies (IPS) of Universiti of Brunei Darussalam (UBD) and the Sanford School of Public Policy (SPP) of Duke University on April 12 in North Carolina, USA. This is the third signing by IPS, after a follow up from the state visit of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam to the United States of America (USA) last month.
ASEAN integration to spur Brunei dev't | Brunei Times, April 30
The regional integration of the Association of Southeast Asian Nations (ASEAN) in 2015 could act as a catalyst to spur the development of Brunei's non-oil sector and help the sultanate diversify its economy, an economic expert said recently. Paulius Kuncinas, the regional editor for Asia at the Oxford Business Group (OBG), said that Brunei will gain a lot from the integration of the 10-member regional grouping "because it's very well located, it has excellent infrastructure and until recently, didn't have the need to export or trade outside the oil and gas sector".
Brunei biz procedures tedious, Japanese lawmaker | Brunei Times, April 30
Brunei needs to ease regulations and simplify its business procedures in order to attract more investment from Japanese companies, a Japanese member of parliament said yesterday. In a press conference at the VIP room of the Brunei International Airport, a member of the House of Councillors in the Japanese Diet and chairman of the Committee on Economy and Industry, Teruhiko Mashiko, said the country could "open its gates" and do more with incentives to lure investment from Japanese companies.
AITI: 4G licenses out next month
The Authority for Info-communication Technology Industry of Brunei Darussalam (AITI) is set to award the fourth-generation long-term evolution (4G LTE) licences to local network operators early next month, which would see the deployment and commercialisation of next generation mobile broadband services in the country.