The National Chamber of Commerce and Industry Brunei Darussalam (NCCIBD) and the National Chamber of Commerce and Industry Malaysia (NCCIM) signed a memorandum of understanding (MoU) virtually yesterday.
The signing aimed to foster the development and diversification of economic cooperation, and the widening of commercial exchanges between both countries on a mutually advantageous basis.
NCCIBD President Haji Mohammad Hanafi bin Pehin Orang Kaya Digadong Seri Diraja Dato Laila Utama Haji Abdul Rahman signed on behalf of the NCCIBD while NCCIM President Ter Leong Yap signed on behalf of NCCIM.
Haji Mohammad Hanafi said the signing will help people to do business while his Malaysian counterpart emphasised the need to take advantage of the Regional Comprehensive Economic Partnership (RCEP) which is a free trade agreement between the Asia-Pacific nations among the 15 member countries that account for about 30 per cent of the world’s population (2.2 billion people) and 30 per cent of global GDP (26.2 trillion) as of 2020, making it the biggest trade bloc in history.
Deputy President of NCCIBD and President of Chinese Chamber of Commerce Malcolm Lim was also present.