Brunei and India seek to grow non-oil trade


NEW DELHI / BANDAR SERI BEGAWAN (Bernama): Brunei Darussalam is a partner in India's energy security but the two countries should work to diversify their economic relations, Indian Minister of State for External Affairs, Rajkumar Ranjan Singh, said.

Singh described Brunei as "a key pillar of India's Act East Policy" and appreciated the sultanate's role in strengthening India-Asean relations.

"Brunei has been an important partner for India's energy security. There is tremendous potential to diversify and add value to our existing trade (relations)," the minister said in a speech at the Brunei National Day reception in New Delhi on Monday evening.

Brunei High Commissioner Datuk Alaihuddin Taha in his address said that crude oil exports constituted the bulk of about US$400 million worth of bilateral trade in 2022.

"Trade and investment continue to be the cornerstone of our partnership," Alaihuddin said.

He said Brunei is keen to expand cooperation in non-oil and gas sectors, and explore potential new areas, including sciences and emerging technologies, pointing out that the Indian Space Research (ISRO) maintains a telemetry, tracking and command station in Brunei.

The two countries are celebrating the 40th anniversary of their diplomatic ties this year.

The Brunei National Day reception in the Indian capital attracted more than 100 guests, including Malaysian High Commissioner Datuk Muzafar Shah Mustafa, and ambassadors and diplomats of Asean and Organisation of Islamic Cooperation (OIC) countries.

The guests were treated to an array of Bruneian dishes prepared by the chefs of Royal Brunei Culinary, a catering services unit of Royal Brunei Airlines. - Bernama

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Brunei , India , Asean

   

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