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High Commission facilitates enhanced bilateral trade and economic engagement

Posted on: May 28, 2021 | Back | Print

PRESS RELEASE

High Commission facilitates enhanced bilateral trade and economic engagement

A Bilateral Relations Review Meeting between India and Brunei was held virtually on 18 February 2021. It was Co-Chaired by His Excellency Dr. Subrahmanyam Jaishankar, Hon’ble Minister of External Affairs of India, and His Excellency Dato Seri Setia Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd. Yusof, Hon’ble Minister of Foreign Affairs II of Brunei Darussalam. One of the outcomes of the meeting was the need to encourage greater economic interactions between the two countries thereby promoting trade and investments. Both leaders realized that on account of the Covid-19 pandemic, such meetings for the time being, could be held only on the virtual mode. Accordingly, the two leaders called upon the relevant Departments/Ministries of the two countries as well as local trade bodies including Chambers of Commerce to find opportunities to engage on the digital mode in this regard.

In pursuance of this mandate, High Commission of India organised two important commercial events in April and May 2021 to further strengthen the economic engagement between the two countries.

On 27 April, High Commission facilitated a meeting with the participation of the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Department of Agriculture and Agrifood of Brunei on “Opportunities in Agri Food sector between India and Brunei”. From APEDA, the meeting was attended by Dr. M. Angamuthu, Chairman APEDA, and Mr. Devendra Prasad, Deputy General Manager, APEDA, along with representatives of companies dealing in rice; meat industry; fresh produce, including banana and pomegranates; food processing industry in India; who made sector specific presentations. From the Department of Agriculture and Agrifood of Brunei, presentations were made on Brunei’s rice and coconut industries and importation of Halal meat. The two sides also apprised the participants on import and export regulations.

On 25 May, a meeting was organised on “Bilateral Trade and Investment Opportunities between India and Brunei – post Covid-19” with the participation of Federation of Indian Export Organisation (FIEO) and senior representatives of the National Chamber of Commerce and Industry Brunei Darussalam; the Federation of Brunei Malay Entrepreneurs (PPPMB); and the Indian Chamber of Commerce.

During both meetings, High Commissioner H.E. Mr. Ajaneesh Kumar gave the opening remarks where, inter alia, he highlighted that: (i) Indian companies should look at opportunities presented under the ‘Brunei Vision 2035’ and the 'Economic Blueprint for Brunei Darussalam — Towards a Dynamic and Sustainable Economy’, which identifies downstream oil and gas; food, tourism, ICT; and services as the priority sectors; (ii) cooperation in the MSME sector; and (iii) utilise the virtual mode to remain in constant contact and work towards engaging in developing trade and business linkages.

High Commission will continue to play its pivotal role in the strengthening of the existing bilateral trade and economic relations. Other bilateral engagements being scheduled during the course of the year are meetings on MSME and health sectors; a meeting between representatives of industries of the two countries and the 2nd Joint Trade Committee meeting. Once the pandemic situation normalises, High Commission proposes to invite a multi-sectoral Indian business delegation to visit Brunei.

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Brunei Darussalam, 28 May 2021



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