Brunei Darussalam

With a well-stocked energy sector, international buyers are lining up to access Brunei Darussalam’s liquefied natural gas (LNG). It will be up to officials to ensure that a balance is struck between fuelling overseas demand and supplying the local economy, and in particular, the country’s growing petrochemicals industry.

Recent weeks have seen the Sultanate take some important steps in boosting trade ties with both regional friends and more distant allies. This recent flurry of international links will be good for Brunei Darussalam’s trade position, and may also stand the Sultanate in good stead as it prepares to chair the Association of South-east Asian Nations (ASEAN) in 2013.

With the government having announced ambitious plans to reduce and eventually eliminate the need to wait for state housing, Brunei Darussalam’s construction sector looks set for a busy few years. The industry is indeed already experiencing something of a growth spurt.

A plan for Brunei Darussalam to become 60% self-sufficient in rice production by 2015 may at first glance seem an overly optimistic goal, but with a little assistance from several of the Sultanate’s neighbours, the country could be on the way to greater food security for its staple crop.

Having long given its support to regional and multilateral efforts to promote trade, Brunei Darussalam has recently been highly involved in negotiations for a new multilateral free trade agreement that could transform the economies of the Asia-Pacific region.

Brunei Darussalam’s economy closed out 2011 in good health, with GDP rising, inflation under control and plans to build on existing strengths and develop new opportunities. However, concerns remain over the slowing global economic growth and how this may impact the country.