The Department for Business and Trade, in association with the UK-ASEAN Business Council, will run a Trade Mission for UK and UK-based companies, to Brunei from 25-27 November.
Following a visit by His Majesty's Trade Commissioner for Asia Pacific earlier this year a number of opportunities have been identified for UK services and/or investment into the Brunei economy. Although the UK and Brunei share deep Royal, Political, Education and Defence links, bilateral trade with Brunei is only £192m.
To grow the bilateral trading relationship, specific sector opportunities have been identified including in:
- Clean Energy
- Education
- Maritime and Logistics
There are further opportunities in digital transformation across sectors as the country looks to digitise further.
The proposed programme will include a mix of formal and informal meetings with Brunei Ministers and senior business figures as well as site visits to areas of business opportunity.
Brunei Darussalam, ASEAN's smallest member state, is seeking to diversify its economic base away from oil and gas. Brunei is looking at investing in key sectors such as education, clean energy, and maritime and logistics to drive sustainable growth and reduce reliance on hydrocarbons. Brunei's strategic location, political stability, and business-friendly policies make it an attractive market for international partnerships, particularly with the United Kingdom.
The UK accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will mark the first Free Trade Agreement (FTA) between the UK and Brunei. This will unlock trade benefits for both countries in a wide range of business sectors.
Useful Links
Trade and Investment Factsheets – Brunei. Department for Business and Trade
Brunei Economic Outlook 2024. Centre for Strategic and Policy Studies
Brunei Darussalam Key Economic Developments Q4 2023. Department of Economic Planning and Statistics.
Agenda
18
00
-
21
00
Briefing session and Dinner at the Residence of the British High Commissioner to Brunei Darussalam
A briefing on the plans for the mission over the next two days followed by dinner at the Residence H.E. Alexandra McKenzie, British High Commissioner to Brunei Darussalam.
Tuesday, November 26, 2024
09
00
-
11
00
Roundtable on the Brunei Economy with the Brunei Economic Development Board
A discussion on the investment and business opportunities in Brunei. It will also be an opportunity to seek information on doing business in Brunei.
12
00
-
14
00
14
00
-
16
00
Meetings with the Brunei Government
Meetings with (choose one): Ministry of Education, Ministry of Transport and Infocommunications including agencies responsible for Maritime logistics and Digitalisation, Department of Energy, and Other Ministries as requested.
19
00
-
22
00
Dinner with the Britain Brunei Business Forum
This will be an opportunity to meet the business community in Brunei with connections to the UK.
Wednesday, November 27, 2024
09
00
-
12
30
Company Site Visits
Site visits for each cluster (choose one): Educational institutions including University Brunei Darussalam, University Technology Brunei, and Laksama College of Business. Muara Port Company and Anson International (Marine Maintenance Yard and Decommissioning Yard). Digital Stakeholders such as United National Networks. Renewable Energy-related organisations (visits to renewable energy organisations will take the whole day).