Brunei-Indonesia trade sees increase in volume

BANDAR SERI BEGAWAN, Mar 16, 2022, Borneo Bulletin/Asia News Network. Brunei Darussalam and Indonesia recorded an increase of 360 per cent (US$374.2 million) in bilateral trade volume in 2021, The Star reported.

“Over the past four years, Indonesia has always enjoyed a surplus in trade with Brunei,” Indonesian Ambassador to Brunei Darussalam Dr Sujatmiko said on the sidelines of the introduction with members of the Indonesian Chamber of Commerce (KADIN) Brunei Darussalam Bilateral Committee.

He added that the surplus “cannot be separated from intensive export promotion efforts with the support of various parties.

“I am sure this achievement will continue to increase through closer cooperation with business actors, especially the KADIN Brunei Darussalam Bilateral Committee”.

The meeting, held virtually at the Indonesian Embassy on Tuesday (March 15), also noted that the Covid-19 pandemic was not a barrier for Indonesia’s exports to the Sultanate as 63.9 per cent (US$211.4 million) of increase was recorded in 2021 from the previous year.

The KADIN Bilateral Committee Brunei Darussalam works in parallel with the Indonesian Business Chamber entrepreneur association to work together with the Indonesian Embassy in Brunei Darussalam in managing the challenges and issues to Indonesia’s exports.

These include reducing logistics costs through increasing sea and air connectivity, expanding business networks through trade promotion, business matching, and empowering Indonesian micro, small and medium enterprises in Brunei.

The cooperation is also aimed at attracting Brunei investment, especially in the Nusantara Capital project, as well as the success of Indonesian companies in tendering development projects in Brunei.