Brunei Darussalam’s foreign policy aims to advance national interests considering its regional and global standing. According to the Ministry of Foreign Affairs, the country prioritises maintaining sovereignty, independence, and territorial integrity while preserving its political, cultural, and religious identity.
Brunei actively works towards promoting regional and global peace, security, stability, and prosperity, alongside enhancing its own economic and social well-being. Brunei engages in bilateral and multilateral cooperation, guided by principles such as mutual respect, recognition of the equality of all nations, non-interference, peaceful dispute resolution, and mutual cooperation.
The nation establishes friendly ties and strengthens collaborations through participation in international organisations. Brunei also upholds its commitment to the United Nations Charter, the ASEAN Charter, international law, universally recognised principles of sovereignty, and the respect for human rights and fundamental freedoms. The approach underscores friendship, mutual respect, and peaceful co-existence.
Moreover, the Sultanate is dedicated to enhancing ties in various sectors, including the economy, investment, trade, energy, education, defence, and social aspects. Brunei places significant value on longstanding bilateral relationships and consistently works to strengthen these connections.
Brunei achieved notable success in pandemic prevention, external affairs, and effectively chaired ASEAN in 2021. The Sultanate’s warm relations with regional partners proved crucial during the challenging times of a severe COVID-19 wave, receiving vaccine support from China, Australia, Japan, and Singapore, showcasing the depth of regional cooperation.
BIMP-EAGA
Brunei actively participates in the Brunei Darussalam-Indonesia-Malaysia- Philippines East ASEAN Growth Area (BIMP-EAGA), a tightly integrated subregional economic grouping. Composed of Brunei, Indonesia, Malaysia and the Philippines, the collaboration boasts a collective population of 75 million people and a rapidly growing regional economy.
The launch of the BIMP-EAGA Trade Convention 2023 (BETCON23) in October 2023 unveiled noteworthy economic achievements in the subregion.
In 2022, foreign direct investments in the sub-region surged to USD19.9 billion, marking a substantial 46.7 per cent increase from 2021. Domestic investments grew by 19.3 per cent and reached USD8.7 billion in 2022.
Meanwhile, the tourism sector exhibited robust recovery. From 2021 to 2022, arrivals soared by 137.3 per cent and reached to 114.8 million.
Priority infrastructure projects also witnessed a remarkable surge, escalating from 57 in 2017 to 129 in 2023, with a total value of USD38.87 billion. This inclusive initiative encompasses road, sea, and airport developments, alongside investments in information and communications technology infrastructure and power interconnections.
Notably, the sub-region’s trade balance witnessed a positive shift, increasing from USD70.2 billion in 2021 to USD84.8 billion in 2022.
With the aforementioned achievements, BIMP-EAGA remains an enticing destination for both foreign and domestic investments. BETCON23 emerges as a critical platform for businesses to foster networks, showcase products and services, and explore potential opportunities.
The convention aligns with the five strategic pillars of BIMP-EAGA Vision 2025 (BEV 2025), focusing on enhancing connectivity, establishing the sub-region as Asia’s food basket, promoting BIMP-EAGA as a premier tourism destination, managing natural resources sustainably, and fostering people-to-people connections.
During the convention, several memoranda of agreement (MoAs) and understanding (MoUs) were inked between various companies and organisations.
Notable MoAs included agreements between PT Sterily Halal International and Riza Fudhlana Farming, and Hong Xin Food Sdn Bhd and Hui Huang Enterprise. Additionally, MoUs were signed by Sahamada Corporation Sdn Bhd with RNF Trading, Life Water Marketing Sdn Bhd, JS Jaya Sdn Bhd, and Syarikat Perniagaan Muneera with each other.
The Federation of Brunei Malay Entrepreneurs (PPPMB) entered into a MoU with the Palawan Economic Development Council, and El-Abqari Travel Tours Sdn Bhd collaborated with LDA Labuan Holding Travel and Tours. The BIMP-EAGA Business Council (BEBC) also solidified cooperation with Gallop Air through a signed MoU.
These collaborations signify the commitment to advancing economic partnerships and regional integration within BIMP-EAGA.