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MoUs boost Brunei, Bangladesh ties in trade, investment

| 27/05/2019 | Reply
Danial Norjidi – Borneo Post

THE month of April saw significant developments in enhancing industry cooperation in various sectors between Brunei Darussalam and the People’s Republic of Bangladesh as the signing of three Memorandums of Understanding (MoUs) took place.

Signed during the Brunei Darussalam – People’s Republic of Bangladesh Forum at The Empire Hotel & Country Club on April 22, the MoUs cover cooperation in sectors including energy, construction, hotel and tourism, agriculture and fishing, food and beverage as well as import and export.

The MoUs were signed in the presence of Prime Minister of the People’s Republic of Bangladesh Sheikh Hasina, who made a three-day official visit to Brunei Darussalam from April 21-23.

One of the MoUs signed was between Brunei’s Ghanim International Corporation Sdn Bhd and Bangladesh’s Taj Food Industries Ltd, a subsidiary of the Nizam Group of Companies.

The aim of the MoU is establishing a basis of cooperation between Brunei and Bangladesh in the sourcing, development, trading and investment in Halal food, Halal pharmaceuticals, Halal cosmetics and Halal aquaculture products.

Speaking on the signing, CEO of Ghanim International Corporation Dr Nur Rahman said, “We are pleased to step into an exciting new venture with Taj Food Industries from Bangladesh which will open various opportunities for Ghanim International Corporation to reach out to new markets by tapping into their network and utilising their diverse business experiences across the food industry, pharmaceutical, logistics and infrastructure.”

“As Bangladesh is expected to be the third fastest growing economy in the world in 2019, we wish to leverage on this huge market opportunity to introduce bruneihalalfoods products including packaged food and seafood products and also utilise this channel to establish our footing in Halal pharmaceuticals under the bruneihalalpharma brand.”

He expressed his confidence that the collaboration will open significant opportunities for business growth for both parties.

“We acknowledge the support of the Ministry of Primary Resources and Tourism in increasing processing and trading of Halal aquatic products for bruneihalalfoods,” added the CEO.

The high-level business forum also saw the signing of the MoU on Cooperation Agreement between the National Chamber of Commerce and Industry Brunei Darussalam (NCCIBD) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) recognised the commitment in promoting economic and commercial cooperation between the governments of the People’s Republic of Bangladesh and Brunei Darussalam.

It was reported that the agreement will facilitate the setting up of industries in both countries under joint ventures and joint collaborations.

Another MoU signed at the forum was between Brunei’s Dimension Strata Sdn Bhd and Bangladesh’s Green Power Limited and the Department of Geology, Faculty of Earth and Environment Science, University of Dhaka on Joint Collaboration for the Provision of Professional Skills Development and Training in Petroleum Geoscience.

This MoU carries the objective of establishing collaboration to provide petroleum geoscience skills development and technical training courses to oil and gas industry professionals in Bangladesh and abroad. It was also reported that the MoU comes with the aim of positioning the University of Dhaka as one of the centres of excellence and technical skills training venues for petroleum geoscience for the global oil and gas industry.

Following the signing ceremony, the forum continued with a networking session between the business communities of Brunei Darussalam and People’s Republic of Bangladesh.

It was reported that the session intended to provide a platform for enterprises from both countries to forge strategic partnerships, and promote collaboration and business development, and saw the attendance of representatives of business enterprises from both countries from multiple industry sectors, including food and beverage, garment and textile, logistics and services.

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Category: Asia, Finance & Investment, Food Manufacturing, Halal Trade, Media & Events, Research, Trade Events, Travel & Hospitality

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