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Manila Bulletin devider Philippines devider National devider PH commits to stronger business ties with Brunei

PH commits to stronger business ties with Brunei

Published May 29, 2024 04:57 am

At A Glance

  • The Philippine Business Forum in Brunei is part of the government's efforts to showcase the Philippine economy's strength and facilitate trade and investment partnerships focused on agribusiness, renewable energy, halal development, and opportunities in the BIMP-EAGA region. 

President Marcos said that the Philippine government has committed to strengthening its business ties with Brunei Darussalam and fostering economic growth within the Association of Southeast Asian Nations (ASEAN).

President Ferdinand ‘Bongbong’ Marcos Jr. (Bongbong Marcos/Facebook)
President Ferdinand ‘Bongbong’ Marcos Jr. (Bongbong Marcos/Facebook)

Marcos said this as he attended a business forum on the sidelines of his State Visit to Brunei Darussalam on Wednesday, May 29.

In his speech, the President reaffirmed the Philippines’ unwavering commitment to regional economic integration on multiple fronts, leveraging the benefits of its partnership through ASEAN, the Regional Comprehensive Economic Partnership Agreement (RCEP), and the Brunei Darussalam- Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). 

Marcos said the Philippines sees vast potential in sectors such as agribusiness, renewable energy, and Halal industry development. 

“We stand firm in strengthening the business relations between the Philippines and Brunei Darussalam,” he said.

Our partnership is a symbol of the shared aspiration to foster economic growth and shape a more vibrant ASEAN community,” he added. 

According to the President, the trade and investment policy framework of the Philippines, established through the ASEAN and RCEP, is fundamental to the country’s agenda for regional economic integration. 

He is optimistic that the government’s efforts “will be further supported by additional policy measures designed to strengthen” the supply chain integration in the Philippines, boosting foreign direct investment. 

The Philippine Business Forum in Brunei is part of the government’s efforts to showcase the Philippine economy’s strength and facilitate trade and investment partnerships focused on agribusiness, renewable energy, halal development, and opportunities in the BIMP-EAGA region. 

It is organized by the Department of Trade and Industry (DTI) in partnership with the Department of Agriculture (DA) and the Brunei Economy Program with the support of the Philippine Embassy in Brunei.

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Bongbong Marcos PH-Brunei Darussalam President Marcos
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