Malaysia, Brunei Explored Trade, Investment Cooperation

26 Jan 2023

Malaysia seeks to explore trade and investment opportunities as Prime Minister Anwar Ibrahim caps off his official visit to neighboring Brunei on Wednesday.

Anwar, who is making a two-day visit to the neighboring country, also had an audience with Brunei’s Sultan Haji Hassanal Bolkiah followed by a four-eyed meeting in the sultan’s official residence.

“When two country leaders have a very strong friendship … and have plans for both countries … they can always check the progress, and the implementation will be expedited,” he said after the meeting, according to Malaysian national news agency Bernama.

Anwar and the sultan also witnessed the signing of a memorandum of understanding between the Malaysian Investment Development Authority and the Brunei Investment Agency.

Meanwhile, the foreign ministry said in a statement that the meetings will provide the opportunity for both sides to review the progress of bilateral cooperation as well as explore new areas of cooperation, especially in trade and investment that will bring benefits to both countries.

In 2022, Brunei was Malaysia’s 26th largest trading partner and the sixth largest among ASEAN member states, with bilateral trade standing at 13.22 billion ringgit (3.1 billion U.S. dollars).

Source : Bernama