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 reflected on the significant strides that have been made in building a robust and lasting relationship between ASEAN and Australia, and resulting in positive results, benefiting not only for the two countries but also the broader regional community during a Sunset Santai reception yesterday.
“Australia remains an important trading partner for Brunei and the economic relations have continued to develop over the years. Despite the COVID-19 pandemic, the total trade between Brunei and Australia had doubled, mostly due to the exportation of crude oil, fertiliser and seafood to Australia,” said the minister.
“In 2021, the total trade was BND2.44 billion; BND4.04 billion in 2022 and BND3.17 billion last year with Australian produce, especially dairy and farm products are very popular in Brunei as well as a continued local demand for quality meat products where almost all of the country’s lamb and mutton imports are from Australia hence Brunei continues to welcome Australian investments in its diversification efforts,” he added.
“As we commemorate the 50th anniversary of ASEAN-Australia Dialogue Relations this year, our cooperation has evolved to cover a wide range of sectors across the three ASEAN community pillars.
“As one of ASEAN’s largest trade and investment partners, Australia has played a pivotal role in ASEAN’s economic development and growth as showcased through frameworks such as the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), Regional Comprehensive Economic Partnership and Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” the minister said.
He added that last year, the total two-way trade between ASEAN and Australia reached USD94.4 billion while foreign direct investment flow from Australia to ASEAN amounted to USD1.61 billion.
Australian High Commissioner to Brunei Darussalam Luke Arnold in his welcome remarks also highlighted the strong bilateral relationships, and noted that Brunei’s deep commitment to ASEAN has made his work easier in working together to advance Brunei-Australia cooperation with ASEAN.
“Brunei really did go the extra mile to help Australia establish that strategic partnership with ASEAN. We really appreciate that advocacy. The comprehensive strategic partnership is actually delivering real outcomes for Australia, ASEAN and the Asian region,” said the high commissioner.
Meanwhile, visiting Australian Ambassador to ASEAN Tiffany McDonald in her speech noted that she is impressed by the depth of engagement that Australia has with Brunei and across the three years she was in the Sultanate.
She was able to see it continue to grow and go from strength to strength across a range of issues.
“The bilateral relationship and the strength of the bilateral relationship that we had such a strong partnership with ASEAN and so it is important to me that the relationship between Australia and Brunei continue to grow from strength to strength,” said McDonald.
The event was hosted by the high commissioner with visiting Australian Ambassador to ASEAN at his residence in Jalan Kampong Kianggeh. – Lyna Mohamad
