BANDAR SERI BEGAWAN: Brunei Darussalam reaffirmed its commitment to mutually beneficial trade and to ensuring that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) continued to deliver meaningful economic benefits to the people.
Coordinating Minister for Economic Policies and Minister of Economy, Trade and Industry Dato Seri Setia Dr Abdul Manaf Metussin said this in his remarks at the recent Tenth Commission meeting of the CPTPP and Ministerial meeting held virtually.
Dato Seri Setia Dr Abdul Manaf also expressed Brunei Darussalam’s continued support for further expansion of the agreement particularly as it will provide wider market access for exporters and consumers.
He took note of the ongoing accession process with Uruguay and welcomed the start of preparatory discussions with United Arab Emirates (UAE), Indonesia and Philippines.
The meeting chaired by Deputy Minister of Industry and Trade of Vietnam Nguyen Sinh Nhat Tan, was attended by CPTPP ministers as well as representatives from Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam.
At the meeting, the ministers reaffirmed their collective commitment to an open and fair global trading environment with the World Trade Organization (WTO) at its core. The ministers also welcomed the conclusion of Costa Rica’s accession and took note of the good progress of the Uruguay accession process.
The ministers agreed to commence preparatory discussions with the UAE, the Philippines and Indonesia in line with the Auckland Principles.
The ministers agreed to deepen cooperation on trade facilitation and underlined the importance of advancing upgrade negotiations to ensure the CPTPP remains responsive to global developments including the strengthening of trade and investment dialogues with Asean and the European Union.
On the occasion of the meeting, ministers formally endorsed the Joint Ministerial Statement on Expansion, Implementation and Cooperation, as well as a Ministerial Statement on Energy Security and Supply Chains for Essential Energy Products and other Impacted Products. – Borneo Bulletin/ANN
