Segala Brunei→banar banar semua ada bah!⤴︎

Izah Azahari Given the country’s small size, it is crucial for the Sultanate to seek opportunities in the global market and collaborate with like-minded partners by participating in regional initiatives such as the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Indo-Pacific Economic Framework for Prosperity (IPEF), which align with its foreign trade policy and support its domestic agenda for sustained economic growth. Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah said this in his keynote address during the Brunei Business Conference: APEC Business Advisory Council (ABAC) Roundtable on Borneo at the Indera Samudra Grand Hall, The Empire Brunei yesterday. He added that these initiatives aim to create new opportunities for businesses, especially micro, small and medium enterprises (MSMEs), empowering them to expand their operations and explore new markets. Brunei’s economy is forecast to grow 2.6 per cent this year due to a two-per-cent growth in the oil and gas industry and a 2.8-per-cent rise in the non-oil and gas sector, as well as an increase in total trade in January 2023 to 7.9 per cent year-on-year. The minister also highlighted the decrease in unemployment rate in 2021 from 7.3 per cent to 4.9 per cent with new jobs created even during the COVID-19 pandemic. “Post-COVID-19, the government has continued the emphasis on strengthen the health and productivity of the economy and its people,” he said. ![](https://media.everythingbrunei.com/public/7WrSS5PYkHOxk_MLMV0mC-848hs0pDTMAlkiz5YFQbG.jpeg) ![](https://media.everythingbrunei.com/public/u8JKck0hXSLGa3ywllrFx-jM8DAIfbnxC_V1-R22FLe.jpeg) ABOVE & BELOW: Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah speaks during the conference; and the minister in a group photo with attendees. PHOTOS: MUIZ MATDANI ![](https://media.everythingbrunei.com/public/_EK_ye6I8DYDjeEMYnQaQ-E3mu3MfUJwmKUbARlNZun.jpeg) Dato Seri Setia Dr Awang Haji Mohd Amin Liew also noted promising growth in the downstream and non-oil and gas sectors, including aquaculture, thanks to a steady flow of foreign direct investment (FDI) with more anticipated in the future. These developments have the potential to bring about a transformative shift in the country’s economy, which has traditionally relied on the oil sector. “Brunei Darussalam remains a firm believer in APEC’s cooperation, which has been beneficial to its members and the overall region,” the minister said. Given the uncertain global economic environment, the minister highlighted Brunei’s recognition of APEC’s role in promoting integrating and advocating for sustainable, resilient, and inclusive growth, its support of APEC’s Putrajaya Vision 2040 and the various targets highlighted in the Aotearoa Plan of Action and initiatives outlined in the Bangkok Goals, along with APEC Internet and Digital Economy Roadmap (AIDER) and APEC Free Trade Area of the Asia Pacific (F-TAAP), which could unlock the region’s full potential. He also noted that Brunei Darussalam supports the United States’ APEC chairmanship, including its priorities and emphasis on furthering the sustainability agenda, as the country has committed to supporting the APEC process over the past decades. “Brunei Darussalam sees value in ABAC, being APEC’s closest ally, to signal to the domestic, regional and international business communities the importance and benefits of APEC’s cooperation. “Your voices are, of course, critical in rallying for open regionalism and a rules-based multilateral trading system,” said the minister prior to concluding his keynote address. The roundtable also welcomed newly-appointed members, and approved the Conference Report for the First ABAC Meeting in 2023 held in Auckland, New Zealand from February 12 to 14.

Segala Brunei→banar banar semua ada bah!⤴︎

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