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NEW UPDATES Asean Affairs  5 October  2015  





Upcoming forum to promote Brunei-Indonesia trade

THE Indonesian Embassy in Bruei will hold a round table discussion with the local business community next week to strengthen bilateral economic relations.

According to Rudhito Widagdo (pictured), minister counsellor of economy at the Indonesian Embassy in Brunei, at least 70 businessmen are expected to join the discussion.

The economic and investment conditions in both Brunei and Indonesia will be presented during the event.

He said the event, which will be held on October 8 at the Rizqun International Hotel in Gadong, is in line with the embassy’s goal to promote bilateral trade.

“We have been active in recent months to promote trade visits and programmes as well as economic forums to enhance bilateral economic cooperation,” he told The Brunei Times yesterday.

Rudhito said aggressive marketing and promotional activities in recent years helped in expanding trade figure between the two countries.

Indonesia is keen to increase trade with Brunei after trade value hit $944 million in 2014, according to latest statistics from the embassy.

Out of the $944 million, over 90 per cent of the business transaction was in oil and gas.

Indonesian exports to Brunei was valued at $135 million with machinery and transport equipment making the bulk of the trade.

This was an improvement from the trade value of $780 million recorded in 2013.

“So we just need to make sure we continue doing this to further the economic relations between Brunei and Indonesia,” he said.

Indonesia is also inviting more Bruneians to invest in several “high-potential” provinces in the country to boost capital flow from the sultanate.

Following a successful trade mission to Jakarta and Yogyakarta in October last year, the Indonesian Embassy will be organising another trade mission to Jakarta and Bandung from October 19 to 25.

Bruneian businessmen who will join the trade mission will have an opportunity to do business matching with Indonesian companies, district officers and trade associations. They will also meet up with governors and district heads.



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