BANDAR SERI BEGAWAN, November 27 (Borneo Bulletin / ANN): The close relationship between Brunei and Australia continues to strengthen, with Australia remaining one of the Sultanate’s main trading partners, accounting for 6.5% of total trade of Brunei in 2020.

Bilateral relations between Brunei and Australia were praised by Deputy Minister of Finance and Economy (Economy) Dato Seri Paduka Dr Haji Abdul Manaf Metussin in his opening speech at the Brunei Market Insights Webinar, held virtually by the Australian High Commission in Brunei and Austrade on November 25.

The deputy minister said that the Sultanate’s economic plan serves as the impetus for the country’s economic growth, supported by strong governance, resilient and prosperous businesses to exploit the economic opportunities created by the Fourth Industrial Revolution.

This will allow increased innovation, productivity and competitiveness as well as the emergence of new industries.

Dr Abdul Manaf also referred to the government’s plan to diversify from traditionally important areas of oil and gas, particularly into the downstream sectors of oil and gas, food, tourism, services and technology. information and communications. He encouraged Australian businesses and investors to explore opportunities and potential partnerships in the Sultanate.

The webinar, chaired by Australian High Commissioner to Brunei Tiffany McDonald and Austrade Senior Trade and Investment Commissioner Paul Sanda, aimed to promote investment and business opportunities in the Sultanate to businesses and exporters Australians, according to the Department of Finance and the Economy (MoFE).

The Australian High Commissioner, in her opening remarks, said that as a small country, the Sultanate has made prudent decisions on diversifying its economy away from the oil and gas sectors, and has a strong reputation for its halal standards. high.

Coming out of her second wave of Covid-19, she also recognized that the Sultanate had one of the best records in the world in managing the spread of the pandemic.

With the development plans set out in Brunei Vision 2035, its economic diversification plans as well as its strategies to increase innovation, competitiveness and productivity, opportunities exist for Australian investors and exporters.

Meanwhile, the CEO of Ghanim International Corporation Sdn Bhd, Dr Nur Rahman, also gave a presentation on the company’s goals and activities.

The company is one of the local trading enterprises benefiting from Australia’s supply of high quality and nutritious meat.

The CEO welcomed the exploration of business opportunities with Australian companies, with participants also engaging in discussions on business and investment opportunities in the Sultanate. – Borneo Bulletin / ANN