Wednesday September 5, 2012
Trade set to flourish further after Malaysia and Brunei ink agreement
By ZUHRIN AZAM AHMAD
PUTRAJAYA: Economic collaboration between Malaysia and Brunei is set to soar after the signing of an agreement to enhance their cooperation.
A brief ceremony to exchange the documents on the agreement was held at the Perdana Putra building yesterday, which was witnessed by Prime Minister Datuk Seri Najib Tun Razak and Sultan Hassanal Bolkiah.
The agreement was signed in conjunction with the two-day 16th Malaysia-Brunei Annual Leaders' Consultation which ended here yesterday.
According to Wisma Putra, the consultation was the most important event in the annual calendar of both countries, serving as a mechanism for discussion on a wide range of bilateral, regional and global issues of concern.
It is also to appraise the progress of the ongoing cooperation as well as explore new potential for an enhanced partnership.
Yesterday's agreement was an important instrument for a comprehensive economic collaboration between the two countries.
Malaysia-Brunei bilateral trade totalled RM1.8bil last year while Malaysia's investment in the oil-rich sultanate was estimated at RM72.8mil.
Deputy International Trade and Industry Minister Datuk Mukhriz Tun Mahathir represented Malaysia while Brunei was represented by its Second Minister of Foreign Affairs and Trade Pehin Datuk Lim Jock Seng.
Earlier, Najib and Sultan Hassanal Bolkiah held a four-eyed meeting at his office.
The two leaders then proceeded to the Perdana Meeting Room for a briefing by the Performance Management and Delivery Unit (Pemandu) officials.
Najib and his wife Datin Seri Rosmah Mansor hosted a lunch for Sultan Hassanal Bolkiah at Seri Perdana.