One of the largest exporters of oil and gas in Southeast Asia, Brunei Darussalam has long benefitted from its strong trade relationships with Japan, China and its ASEAN neighbours, building a robust trade surplus in the years to 2014 on the back of rising exports and elevated petroleum prices. The oil market’s mid-2014 turnaround has had a...
Government revenues have declined significantly in Brunei Darussalam as a result of the global oil market slowdown, leading authorities to float a number of new policies aimed at rationalising spending. The 2016/17 budget reflects these challenges, with funding cut at nearly every department and a strong emphasis on improving efficiency and...
The economic fortunes of Australia and Brunei Darussalam are both heavily dependent on the goods and services we export and on our ability to attract foreign investment to develop and expand our productive sectors. Greater trade and investment flows are fundamental to creating jobs for our people and ensuring our nations’ prosperity.
What steps can be taken to ensure that current EU-ASEAN free trade agreement (FTA) negotiations do not end in another impasse?
As a founding member of the vast Trans-Pacific Partnership (TPP), the Sultanate is poised to welcome a host of economic benefits as a result of its membership. After a historic signing ceremony in October 2015, the next phase of the pact’s development will see each signatory seek domestic ratification prior to official enactment. Although...
A high-income country with vast petroleum wealth, robust fiscal reserves and a small, highly-educated population, Brunei Darussalam is unique among the ASEAN community. Oil and gas resources have generated high per-capita income, although the economy has contracted in recent years as a result of falling oil and gas prices, which account for...
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