Trade & Investment
From The Report: Brunei Darussalam 2016
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One of the largest exporters of oil and gas in South-east 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 dramatic impact on the Sultanate’s trade balance, however, with export revenues tumbling after oil lost two-thirds of its value on global markets between June 2014 and February 2016. Although Brunei Darussalam maintains a trade surplus, exports contracted significantly in 2015, and the outlook for 2016 is subdued as a result of a rising global oil glut. This has underscored efforts to reduce oil export dependency through new diversification measures, which should see manufacturing and industrial exports continue increasing their contribution to total trade in the coming years. This chapter contains an interview with Cecilia Malmström, European Commissioner for Trade.

Articles from this Chapter

Overview

Targeted approach: Regulator reforms are under way to attract foreign investment in key industries, while trade partnerships are expanding
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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 dramatic impact on the Sultanate’s trade balance, however, with export revenues tumbling after oil lost two-thirds of its value on global markets between June…

Interview

Talking trade: OBG talks to Cecilia Malmström, European Commissioner for Trade
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Interview:Cecilia Malmström What steps can be taken to ensure that current EU-ASEAN free trade agreement (FTA) negotiations do not end in another impasse? CECILIA MALMSTRÖM: During the 13th ASEAN Economic Ministers-EU Trade Commissioner Consultations held in Kuala Lumpur on April 26, 2015, all parties agreed that events had moved on since the negotiations had been put on hold, and there was a need on both sides to take stock of these developments. Senior officials reported to ministers…

Interview

Talking trade: OBG talks to Cecilia Malmström, European Commissioner for Trade
OBG
plus

Interview:Cecilia Malmström What steps can be taken to ensure that current EU-ASEAN free trade agreement (FTA) negotiations do not end in another impasse? CECILIA MALMSTRÖM: During the 13th ASEAN Economic Ministers-EU Trade Commissioner Consultations held in Kuala Lumpur on April 26, 2015, all parties agreed that events had moved on since the negotiations had been put on hold, and there was a need on both sides to take stock of these developments. Senior officials reported to ministers…

Analysis

Economic benefits: A new trade agreement is expected to underpin diversification efforts
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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 policymakers will continue to negotiate over several TPP provisions related to labour and transparency, the country has made strong progress in meeting the TPP’s…