BANDAR SERI BEGAWAN, BRUNEI DARUSSALAM 

24 JULY 2024

The Ministry of Finance and Economy has organized a stakeholder engagement event in collaboration with Global Affairs Canada and the Department for Business and Trade, United Kingdom. The event was attended by representatives from the private sector, government agencies and CPTPP Senior Officials and delegates.

The purpose of the event was to socialize and promote the benefits of the CPTPP, as well as to provide networking opportunities for the participating companies and agencies. 

Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Minister of Finance and Economy II, in his welcoming remarks emphasized that Brunei Darussalam is a firm supporter of the rules-based multilateral trading system, in which free and open trade has remained to be at the heart of Brunei Darussalam economic diversification strategy. Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah also noted the positive utilisation of the agreement particularly for Brunei exports to new markets in Latin America, including Chile, Mexico and Peru. 

In his opening remarks Mr. Bruce Christie, Assistant Deputy Minister for Trade Policy and Negotiations, Global Affairs Canada and 2024 Chair of the CPTPP Senior Officials Meeting emphasized the importance of engaging with businesses to gain insights into real-world challenges faced by industries and in turn, shape trade polices to help enhance competitiveness and support economic growth. Mr. Bruce Christie shared that today’s event encouraged the CPTPP’s broader utilization, which is one of Canada’s priorities for its Chair year in 2024.

Several presentations were made during the event. Yang Mulia Puan Nor Zerlina binti Haji Momin, Director of Trade Division, MOFE, presented a brief overview of the CPTPP including Brunei Darussalam’s perspectives on the agreement. Ms. Pirkko Penttila, First Secretary, Trade Policy, Embassy of Canada to Japan, presented on the market access opportunities for businesses through lower tariff rates under the CPTPP. Mr. Rob Cook, Deputy Director, Department for Business and Trade, UK and Deputy CPTPP Senior Official, highlighted how the CPTPP focuses on liberalizing and facilitating trade in services and ensuring investment promotion and protection among its members. 

During the armchair discussion, moderated by Mr. Darren Smith, Executive Director, Trade Policy and Negotiations (Asia), Global Affairs Canada, Yang Mulia Puan Hajah Nur Raihan binti Dato Paduka Haji Mohd Rosli, Acting Deputy CEO, Brunei Fertilizer Industries Sdn. Bhd. (BFI) shared their experience and insights on utilizing the CPTPP provisions when exporting to some of the CPTPP member economies. 

Yang Mulia Puan Dr. Hajah May Fa'ezah binti Haji Ahmad Ariffin, Permanent Secretary (Economy, Trade and Industry), Ministry of Finance and Economy in her closing remarks, shared the common view that the CPTPP presents great opportunities for trade and investment – especially with access to and from new markets such as Canada, Chile, Peru, Mexico and soon to be – United Kingdom. Today’s session presented an opportunity to hear comments from the business community on how the agreement can be furthered improved. 

For inquires and more information on CPTPP, the public is welcome to access the following website: bruneitrade.mofe.gov.bn.