Sarawak draws Brunei shoppers with variety and lower prices
JUNAIDI BAHRUM
BANDAR SERI BEGAWAN
Monday, March 30, 2009
Bruneians spent RM280m in 1.4m entries across the border in 2007
ON ABOUT 1.4 million occasions that Bruneians are said to have visited Sarawak in 2007, they collectively spent at least RM$280 million.
The amount has left the business community reeling as they themselves wonder if local spending — minus that on vehicles and electronics goods — could match that figure.
The amount spent outside Brunei Darussalam, if spent locally, could bring wonders in facilitating the government's vision of stimulating the economy as well local private sector employment if that were realistic under current circumstances.
Datuk Michael Manyin Anak Jawong, Minister of Urban Development and Tourism Sarawak, in his opening speech at the launching of the Sarawak Travel Fair, two days ago said 1.4 million Bruneian entries multiplied by an estimated amount of RM$200 (spending) was recorded in 2007. "We should say terima kasih or thank you to Bruneians for spending their money in Sarawak," he said.
However, not all were thankful. Richard, an entrepreneur, who was present at the announcement remarked that the number of Bruneians spending in Sarawak alone shows that locals prefer to shop abroad rather than within the country.
"I felt a little embarrassed by the announcement as I hoped one day, that amount would be announced by local authorities on local spending within one year. The public should also realise that excessive spending abroad can hurt our economy. Who would spend in Brunei Darussalam except for us, the locals? " he asked.
The issue of locals spending abroad has long been an issue due to the attractive exchange rate and also on the prices of goods, said Richard. "To tackle this issue, a review of import tariffs on wholesale goods during certain seasons such as school holidays or during public holidays such as Hari Raya, could be the answer. Malaysia manufactures most of its products hence the low prices while we import ours. With lower tariffs, prices can be cut," he said.
A local businessman, who only wishes to be named as Joe, remarked more tourism initiatives such as festivals, which shopkeepers can employ as a sales tactic might also be beneficial.
"Our hard work of meeting public demand could be thwarted by promotions from international competitors. Maybe, we can do similar promotions with the Tourism Board as well. Introduce more of these festivals. These will facilitate the Kenali Negara Kitani initiative. The business community will support the cause by slashing our prices in accordance with the event," he said.
The marketing initiatives taken by local authorities to boost spending in the country has so far been ineffective as the solution is in the hands of the public, said Mustapha, who runs a retail outlet.
"The grand sales are simply not enough. We need more marketing campaigns. Our exhibitions are also running out of steam. So frankly, a different approach needs to be implemented. Our reduction in prices has already been traditionally done due to the bargaining standards which has been part of the Brunei tradition," he said.
He further added that his company will definitely support events which could support and further enhance the government's initiative.
This was also supported by consumers. Jairi Ahmad, 24, said that to entice him to spend every single cent he earns locally, there must be a diverse range of goods for him to pick.
"Everything is the same here. Every shops sells similar items. Our expectations as consumers are always turned down by the high prices. In Malaysia, everything is cheap. If there is a shopping carnival such as the one held there, such as the rainforest festival, where prices of goods are also slashed by nearly half to commemorate the event, then that would be something," he said.
The issue at hand was also brought up previously by local business owners in a question and answer session between them and Hj Murni Hj Mohamed, the permanent secretary at the Prime Minister's Office (PMO).
The presentation, organised by the French Brunei Business Association was on the National Development Plan (NDP), where business owners questioned on whether the NDP includes initiative to promote further local spending.
According to Hj Murni, the PMO and the relevant ministries are indeed looking for solutions and further awareness campaigns to enhance local spending.
However, he said, the issue of spending lies entirely in the hands of the people as they reserve the right to spend their disposable income anywhere.
The Brunei Times
Showing posts with label Trade. Show all posts
Showing posts with label Trade. Show all posts
Monday, March 30, 2009
Wednesday, November 12, 2008
China posts record trade surplus despite global crisis
China posts record trade surplus despite global crisis
BEIJING
Wednesday, November 12, 2008
CHINA said yesterday its trade surplus hit a monthly all-time high of US$35.2 billion ($52.7 billion) in October, as exports remained strong despite the global economic turmoil.
The surplus, up 29.9 per cent from a year ago, reflected demand for China's exports outside the United States and Europe, but it was also the result of a marked slowdown in imports.
Experts said China's trade would soon show more clearly the impacts of the global economic woes, with export growth set to slow following reports already of many factories dependent on overseas sales facing deep difficulties.
"It is not very likely that such fast growth in the surplus will be sustained," said Qi Jingmei, a researcher with the State Information Centre, a Beijing-based government think tank.
Exports in October rose 19.2 per cent from a year ago to US$128.3 billion, compared with 21.5 per cent growth in September, according to the data from the Customs Administration. Qi highlighted the diverse markets for China's exports as one reason for the continued solid performance despite problems selling to the struggling developed markets.
"The demand from Africa, Latin America and Russia is still strong although exports to Europe weakened," Qi said.
China's state-run Xinhua news agency also gave prominence to the diversification cushion, reporting that exports to Latin America grew 52 per cent in the first nine months to US$111.5 billion.
A slowdown in import growth, rising 15.6 per cent in October from a year earlier to US$93.1 billion, was another important factor.
"Import growth fell by large margins, which made the trade surplus look high," said Li Huiyong, a Shanghai-based economist with Shenyin Wanguo Securities.
Since a large portion of China's imports are of input that get assembled and then re-exported, the trend could also signal further declines in exports in the months ahead, according to observers.
The more moderate rise in imports was also seen to reflect sharp declines in the price of oil and other commodities.
In the first 10 months, the trade surplus — long a source of friction with Europe and the United States — totalled US$216 billion, according to the customs authorities' data.
This marked a slight increase from US$212.4 billion in the same period last year, according to previously released Customs figures. The previous monthly record surplus was US$29.4 billion in September.
Qi of the State Information Centre said the latest figures offered some momentary relief for the Chinese government as it battles to limit the impacts of the global economic crisis at home. "A large trade surplus is what the government currently would like to see," she said.
"It can reduce some pressure on the government's policy making if exports rebound."
However the widening trade surplus could put pressure on China to raise the value of its currency, the yuan, which has stayed at roughly the same level against the dollar since April.
US president-elect Barack Obama said during his campaign that China's huge trade surplus with the US was related to its manipulation of its currency.AFP
BEIJING
Wednesday, November 12, 2008
CHINA said yesterday its trade surplus hit a monthly all-time high of US$35.2 billion ($52.7 billion) in October, as exports remained strong despite the global economic turmoil.
The surplus, up 29.9 per cent from a year ago, reflected demand for China's exports outside the United States and Europe, but it was also the result of a marked slowdown in imports.
Experts said China's trade would soon show more clearly the impacts of the global economic woes, with export growth set to slow following reports already of many factories dependent on overseas sales facing deep difficulties.
"It is not very likely that such fast growth in the surplus will be sustained," said Qi Jingmei, a researcher with the State Information Centre, a Beijing-based government think tank.
Exports in October rose 19.2 per cent from a year ago to US$128.3 billion, compared with 21.5 per cent growth in September, according to the data from the Customs Administration. Qi highlighted the diverse markets for China's exports as one reason for the continued solid performance despite problems selling to the struggling developed markets.
"The demand from Africa, Latin America and Russia is still strong although exports to Europe weakened," Qi said.
China's state-run Xinhua news agency also gave prominence to the diversification cushion, reporting that exports to Latin America grew 52 per cent in the first nine months to US$111.5 billion.
A slowdown in import growth, rising 15.6 per cent in October from a year earlier to US$93.1 billion, was another important factor.
"Import growth fell by large margins, which made the trade surplus look high," said Li Huiyong, a Shanghai-based economist with Shenyin Wanguo Securities.
Since a large portion of China's imports are of input that get assembled and then re-exported, the trend could also signal further declines in exports in the months ahead, according to observers.
The more moderate rise in imports was also seen to reflect sharp declines in the price of oil and other commodities.
In the first 10 months, the trade surplus — long a source of friction with Europe and the United States — totalled US$216 billion, according to the customs authorities' data.
This marked a slight increase from US$212.4 billion in the same period last year, according to previously released Customs figures. The previous monthly record surplus was US$29.4 billion in September.
Qi of the State Information Centre said the latest figures offered some momentary relief for the Chinese government as it battles to limit the impacts of the global economic crisis at home. "A large trade surplus is what the government currently would like to see," she said.
"It can reduce some pressure on the government's policy making if exports rebound."
However the widening trade surplus could put pressure on China to raise the value of its currency, the yuan, which has stayed at roughly the same level against the dollar since April.
US president-elect Barack Obama said during his campaign that China's huge trade surplus with the US was related to its manipulation of its currency.AFP
Tuesday, November 4, 2008
Asean urged to speed up integration amid turmoil
Asean urged to speed up integration amid turmoil
DEBBIE TOO
BANDAR SERI BEGAWAN
Tuesday, November 4, 2008
ASEAN members should spur efforts to integrate their economies and wean the region's dependence on the US as a trade partner as the region grapples with the financial crisis.
"Basically for the past 30 years, the world economy has been relying on the American consumers to drive global growth and it was only recently, emerging markets started to do it," said Cesar Purisima, chairman of the executive committee of Philippine-based process integration consulting firm Prople BPO/Prople KPO Inc.
"In 2007, it was the first time China conquered more of the global growth in actual terms than the US. Then the crisis happens. Now the question is who will help drive us from this present situation?" said Purisima, who was one of the panelists at yesterday's Asean-Japan Business Meeting held here.
He said Asean and Japan, with the rest of Asia should try to accelerate the integration of the region and create an alternative consumer market.
"Through the purchasing power of the consumers, we will therefore create a bigger domestic market," he said.
The former Philippine finance secretary said integration has to be done with Asean as a whole because individually, it will not succeed. "Whether it is Asean countries or Asean+Japan or Japan+3, we should put together funds to accelerate this integration that will focus on narrowing infrastructure gap to focus on putting together the various supply chains and various Asean companies so that they could operate as one," he said.
"For example, a Philippine food company could be put together with a Thai food company, or a Philippine insurance agency could merge with a Singapore insurance company so that they could operate as one so integration is not only done at the government level, but also at the corporate level," he said.
He said that 60 per cent of exports from Asia went outside Asia. This figure has to be reduced, he said, saying more of Asia's exports should be shipped within the region.
Also, he said, "The exports have to be final consumer goods and not the intermediate goods."
Purisima said the process of improving purchasing power would have to start with improving workers' productivity and improving infrastructure.
"Once you gain momentum, you will realise the power of numbers and when you have 575 million people improving their per capita income by $1,000 each, that's $575 billion in additional economic equity that will go a long way in moving economies not only for the region but for the world," said Purisima.
If Asean economies do not integrate, Purisima presented a grim scenario.
"If the reaction of the countries was to be more protectionist, then that will make the crisis even worse. What would happen is that cost of goods in each other's markets will increase and the disposable income will continue to decrease and economical liquidity in general will slow down.
"When you are trying to protect your market by closing the door, you actually get the opposite effect, which is, harming your economy more," he said.
"The fact is that we've globalised and it's hard to reverse," he said.
The Asean-Japan Business Meeting was held at The Empire Hotel and Country Club. It ends today.The Brunei Times
DEBBIE TOO
BANDAR SERI BEGAWAN
Tuesday, November 4, 2008
ASEAN members should spur efforts to integrate their economies and wean the region's dependence on the US as a trade partner as the region grapples with the financial crisis.
"Basically for the past 30 years, the world economy has been relying on the American consumers to drive global growth and it was only recently, emerging markets started to do it," said Cesar Purisima, chairman of the executive committee of Philippine-based process integration consulting firm Prople BPO/Prople KPO Inc.
"In 2007, it was the first time China conquered more of the global growth in actual terms than the US. Then the crisis happens. Now the question is who will help drive us from this present situation?" said Purisima, who was one of the panelists at yesterday's Asean-Japan Business Meeting held here.
He said Asean and Japan, with the rest of Asia should try to accelerate the integration of the region and create an alternative consumer market.
"Through the purchasing power of the consumers, we will therefore create a bigger domestic market," he said.
The former Philippine finance secretary said integration has to be done with Asean as a whole because individually, it will not succeed. "Whether it is Asean countries or Asean+Japan or Japan+3, we should put together funds to accelerate this integration that will focus on narrowing infrastructure gap to focus on putting together the various supply chains and various Asean companies so that they could operate as one," he said.
"For example, a Philippine food company could be put together with a Thai food company, or a Philippine insurance agency could merge with a Singapore insurance company so that they could operate as one so integration is not only done at the government level, but also at the corporate level," he said.
He said that 60 per cent of exports from Asia went outside Asia. This figure has to be reduced, he said, saying more of Asia's exports should be shipped within the region.
Also, he said, "The exports have to be final consumer goods and not the intermediate goods."
Purisima said the process of improving purchasing power would have to start with improving workers' productivity and improving infrastructure.
"Once you gain momentum, you will realise the power of numbers and when you have 575 million people improving their per capita income by $1,000 each, that's $575 billion in additional economic equity that will go a long way in moving economies not only for the region but for the world," said Purisima.
If Asean economies do not integrate, Purisima presented a grim scenario.
"If the reaction of the countries was to be more protectionist, then that will make the crisis even worse. What would happen is that cost of goods in each other's markets will increase and the disposable income will continue to decrease and economical liquidity in general will slow down.
"When you are trying to protect your market by closing the door, you actually get the opposite effect, which is, harming your economy more," he said.
"The fact is that we've globalised and it's hard to reverse," he said.
The Asean-Japan Business Meeting was held at The Empire Hotel and Country Club. It ends today.The Brunei Times
Tuesday, September 30, 2008
Flaws of export-led Asia growth model surface
Flaws of export-led Asia growth model surface
BEIJING
Tuesday, September 30, 2008
THE deepest financial crisis since the Great Depression is likely to do more than years of international prodding to wean China and its Asian neighbours off their export-led model of economic growth.
Washington's US$700 billion mortgage bailout will reshape the US financial industry, perhaps for a generation or two, in ways that are not yet clear. The fallout for the rest of the world will be far-reaching.
But for Asia, one consequence of the turmoil is already inescapable. After living beyond its means for many years, America will have to rebuild its savings, so consumption will fall. Exports to the US from China, Taiwan, Hong Kong and now South Korea are already weakening. The need to take up the slack is urgent.
"I think this is a wake-up call for China," said Stephen Roach, the chairman of Morgan Stanley in Asia.
Roach expects US growth to slow from an average of 3.2 per cent over the past 13 years to no more than two per cent over the next two to three years. Consumption growth is likely to halve to around two per cent as debt burdens are pared back.
As economic weakness spreads to Europe and Japan, the hit to China's exports could cut its growth rate from around 10 per cent now already down from 11.9 per cent in 2007 to about eight per cent, in Roach's view.
"It just underscores the fact that when you have a vibrant but very large export sector, when you have an external shock and you don't have a lot of dynamism on the internal demand side, you have greater risks to growth," he said at the weekend during a meeting of the World Economic Forum in Tianjin, northern China.
Central banks in the region are already responding. Taiwan, China, Australia and New Zealand have all cut interest rates.
Easing monetary policy is all well and good, especially as inflationary risks are receding. Many countries can also afford to resort to fiscal stimulus.
But stoking domestic demand also requires long-haul reforms that sometimes shake the very foundations of an economy such as scrapping deterrents to foreign investment in Japan, ending protection for favoured groups in Malaysia or subjecting dominant firms to more competition in the Philippines and Hong Kong.
These are politically arduous tasks at the best of times. That's why economists wanted governments to get cracking on them while the going was good.
Countries instead largely shirked the challenge, content to rely on export-led growth by holding down their exchange rates.
Quite apart from hindering the needed rebalancing of the global economy, an undervalued currency acts as a tax on domestic demand, Hong Liang and Yu Song, economists who follow China for Goldman Sachs in Hong Kong, noted in a report. The result is evident in the case of China, where household consumption last year came to just 35.3 per cent of gross domestic product an unprecedented low in peacetime for a major country.
This means that a lopsided economy has scant domestic demand to fall back on as the global downturn deepens. "The real costs of China's resistance to yuan appreciation are now becoming more apparent," Liang and Song wrote.
So what is to be done?
For the region more broadly, a precondition of stronger domestic demand is a more efficient financial system. For too long, Asia has in effect contracted out to Wall Street the job of managing its excess savings.
If Asia's surpluses now shrink and it keeps more money at home, the region will have to deepen its bond markets at last and, ironically, promote more financial innovation so capital can be invested productively.
With complex, new-fangled debt instruments now discredited, making the case for financial liberalisation will be tough.
Regulators in Asia will now be extremely cautious about approving any new forms of securitisation, said James Seward, a financial sector specialist at the World Bank.
Reuters
BEIJING
Tuesday, September 30, 2008
THE deepest financial crisis since the Great Depression is likely to do more than years of international prodding to wean China and its Asian neighbours off their export-led model of economic growth.
Washington's US$700 billion mortgage bailout will reshape the US financial industry, perhaps for a generation or two, in ways that are not yet clear. The fallout for the rest of the world will be far-reaching.
But for Asia, one consequence of the turmoil is already inescapable. After living beyond its means for many years, America will have to rebuild its savings, so consumption will fall. Exports to the US from China, Taiwan, Hong Kong and now South Korea are already weakening. The need to take up the slack is urgent.
"I think this is a wake-up call for China," said Stephen Roach, the chairman of Morgan Stanley in Asia.
Roach expects US growth to slow from an average of 3.2 per cent over the past 13 years to no more than two per cent over the next two to three years. Consumption growth is likely to halve to around two per cent as debt burdens are pared back.
As economic weakness spreads to Europe and Japan, the hit to China's exports could cut its growth rate from around 10 per cent now already down from 11.9 per cent in 2007 to about eight per cent, in Roach's view.
"It just underscores the fact that when you have a vibrant but very large export sector, when you have an external shock and you don't have a lot of dynamism on the internal demand side, you have greater risks to growth," he said at the weekend during a meeting of the World Economic Forum in Tianjin, northern China.
Central banks in the region are already responding. Taiwan, China, Australia and New Zealand have all cut interest rates.
Easing monetary policy is all well and good, especially as inflationary risks are receding. Many countries can also afford to resort to fiscal stimulus.
But stoking domestic demand also requires long-haul reforms that sometimes shake the very foundations of an economy such as scrapping deterrents to foreign investment in Japan, ending protection for favoured groups in Malaysia or subjecting dominant firms to more competition in the Philippines and Hong Kong.
These are politically arduous tasks at the best of times. That's why economists wanted governments to get cracking on them while the going was good.
Countries instead largely shirked the challenge, content to rely on export-led growth by holding down their exchange rates.
Quite apart from hindering the needed rebalancing of the global economy, an undervalued currency acts as a tax on domestic demand, Hong Liang and Yu Song, economists who follow China for Goldman Sachs in Hong Kong, noted in a report. The result is evident in the case of China, where household consumption last year came to just 35.3 per cent of gross domestic product an unprecedented low in peacetime for a major country.
This means that a lopsided economy has scant domestic demand to fall back on as the global downturn deepens. "The real costs of China's resistance to yuan appreciation are now becoming more apparent," Liang and Song wrote.
So what is to be done?
For the region more broadly, a precondition of stronger domestic demand is a more efficient financial system. For too long, Asia has in effect contracted out to Wall Street the job of managing its excess savings.
If Asia's surpluses now shrink and it keeps more money at home, the region will have to deepen its bond markets at last and, ironically, promote more financial innovation so capital can be invested productively.
With complex, new-fangled debt instruments now discredited, making the case for financial liberalisation will be tough.
Regulators in Asia will now be extremely cautious about approving any new forms of securitisation, said James Seward, a financial sector specialist at the World Bank.
Reuters
Wednesday, September 24, 2008
Brunei plays important role in regional economy, says US envoy
Brunei plays important role in regional economy, says US envoy
BANDAR SERI BEGAWAN
Wednesday, September 24, 2008
THE United States Ambassador to Brunei, William E Todd yesterday welcomed the launch of US negotiations to join the Trans Pacific Strategic Economic Partnership (TPP) agreement. The agreement will allow the US to join the free trade pact that exists between Brunei, New Zealand, Chile and Singapore (the P4 group) whose broad objectives is to tear down trade barriers among participants within a decade.
In the press statement, Ambassador Todd said that he agrees with Ambassador Susan Schwab in seizing the opportunity to build on the economic strength of all partnership nations.
"Our nations are all leaders in traded goods and services and now is an optimal time to focus on enhanced economic development and stability for all of our economies," said the Ambassador.
He expressed his satisfaction in knowing that through the TPP "we (the US) can demonstrate our intentions to continue to actively engage in the Asia Pacific region." The Ambassador added that he plans to work closely with His Majesty's Government on these efforts.
Noting that the TPP could provide a foundation for and build momentum towards a Free Trade Area of the Asia Pacific, Ambassador Todd said: "Ultimately, the objective is to expand the membership of the Agreement to other nations that share our vision of free and fair trade".
Todd also highlighted that the Asia Pacific region accounts for nearly 60 per cent of the world GDP, adding "I believe Brunei plays an important role in regional economy as we anticipate growth to remain high throughout the next five years."
The Ambassador also noted that with the recent announcement of the TPP Free Trade Negotiations, Intellectual Property Rights (IPR) will be a critical issue and in a follow-up to the successful 'Conference on Effective Practices in IPR' held in Brunei last June, another workshop has been conducted to emphasise the enforcement and practises of IPR issues of both the US and Brunei. "The workshop is an excellent example of close cooperation between the Government of Brunei and the US," said Ambassador Todd, highlighting his embassy's continuous support on the efforts of Customs and Border Protection, the US Trade Representative and the Brunei Government to protect IPR in the country. (SRH1)
The Brunei Times
BANDAR SERI BEGAWAN
Wednesday, September 24, 2008
THE United States Ambassador to Brunei, William E Todd yesterday welcomed the launch of US negotiations to join the Trans Pacific Strategic Economic Partnership (TPP) agreement. The agreement will allow the US to join the free trade pact that exists between Brunei, New Zealand, Chile and Singapore (the P4 group) whose broad objectives is to tear down trade barriers among participants within a decade.
In the press statement, Ambassador Todd said that he agrees with Ambassador Susan Schwab in seizing the opportunity to build on the economic strength of all partnership nations.
"Our nations are all leaders in traded goods and services and now is an optimal time to focus on enhanced economic development and stability for all of our economies," said the Ambassador.
He expressed his satisfaction in knowing that through the TPP "we (the US) can demonstrate our intentions to continue to actively engage in the Asia Pacific region." The Ambassador added that he plans to work closely with His Majesty's Government on these efforts.
Noting that the TPP could provide a foundation for and build momentum towards a Free Trade Area of the Asia Pacific, Ambassador Todd said: "Ultimately, the objective is to expand the membership of the Agreement to other nations that share our vision of free and fair trade".
Todd also highlighted that the Asia Pacific region accounts for nearly 60 per cent of the world GDP, adding "I believe Brunei plays an important role in regional economy as we anticipate growth to remain high throughout the next five years."
The Ambassador also noted that with the recent announcement of the TPP Free Trade Negotiations, Intellectual Property Rights (IPR) will be a critical issue and in a follow-up to the successful 'Conference on Effective Practices in IPR' held in Brunei last June, another workshop has been conducted to emphasise the enforcement and practises of IPR issues of both the US and Brunei. "The workshop is an excellent example of close cooperation between the Government of Brunei and the US," said Ambassador Todd, highlighting his embassy's continuous support on the efforts of Customs and Border Protection, the US Trade Representative and the Brunei Government to protect IPR in the country. (SRH1)
The Brunei Times
Thursday, August 28, 2008
His Majesty tours Iskandar Development Region
His Majesty tours Iskandar Development Region
Royal visit: His Majesty (3rd L) being briefed on the Iskandar Development Region by CEO of the Iskandar Regional Development Authority (IRDA), Dato Ikmal Hijaz (4th L) as Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi (2nd R) looks on in Johor yesterday. Picture: Infofoto
IZAM SAID YA'AKUB
JOHOR, MALAYSIA
Thursday, August 28, 2008
THE involvement of Brunei Darussalam in the Iskandar Development Region could very well be realised after the development corridor in Johor received a royal visit by His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam.
His Majesty had a closer look at the Iskandar Development Region during an indepth briefing by Chief Executive Officer of the Iskandar Regional Development Authority (IRDA), Dato Ikmal Hijaz Hashim. During the briefing the Chief Executive Officer highlighted that a delegation from the Brunei Investment Agency had earlier visited the area in March 2008.
The Iskandar Malaysia Project comprises five zones within the multi-billion dollar mega project. Each of the zone plays a vital role in establishing the five existing pillars of the project. They are electrical and electronics, petro-chemical and oleo-chemical, food and agro processing, logistics and related services, with the last pillar being the tourism.
There are four other clusters which will be implemented, Health Services, which comprises a Medical Park and Medical City; Education Services, which will feature universities and industry centric research and development clusters, whilst courses will also feature a wide variety; Financial services which will see an extension of Malaysia's role in Islamic Financing and the region's premier Islamic Financial Hub; Creative Industries, with a 1,000 acre park dedicated to an extensive digital content industry, the creative entertainment hub will look to open new and available opportunities for multimedia graduates.
Earlier, the Prime Minister of Malaysia and also joint Chairman of the Iskandar Malaysia project, Datuk Seri Abdullah Ahmad Badawi said that "the Sultan has indicated his desire to consider whatever investment opportunities that are available in the region. And his visit to the area also enables him to observe the development that has taken place in Iskandar Malaysia."
His Majesty took a hands on approach with viewing the region, piloting a helicopter alongside HRH Tunku Ibrahim Ismail, the Tunku Mahkota of Johor. After landing in the Iskandar Malaysia region, His Majesty and the Tunku Mahkota of Johor met the Malaysia Prime Minister and a delegation from IRDA, who took His Majesty on a brief tour of the projects.
Following his visit to the Iskandar Malaysia development, His Majesty attended a luncheon hosted in his honour by Sultan Iskandar of Johor at Istana Bukit Serene in Johor Baharu.The Brunei Times
Royal visit: His Majesty (3rd L) being briefed on the Iskandar Development Region by CEO of the Iskandar Regional Development Authority (IRDA), Dato Ikmal Hijaz (4th L) as Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi (2nd R) looks on in Johor yesterday. Picture: Infofoto
IZAM SAID YA'AKUB
JOHOR, MALAYSIA
Thursday, August 28, 2008
THE involvement of Brunei Darussalam in the Iskandar Development Region could very well be realised after the development corridor in Johor received a royal visit by His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam.
His Majesty had a closer look at the Iskandar Development Region during an indepth briefing by Chief Executive Officer of the Iskandar Regional Development Authority (IRDA), Dato Ikmal Hijaz Hashim. During the briefing the Chief Executive Officer highlighted that a delegation from the Brunei Investment Agency had earlier visited the area in March 2008.
The Iskandar Malaysia Project comprises five zones within the multi-billion dollar mega project. Each of the zone plays a vital role in establishing the five existing pillars of the project. They are electrical and electronics, petro-chemical and oleo-chemical, food and agro processing, logistics and related services, with the last pillar being the tourism.
There are four other clusters which will be implemented, Health Services, which comprises a Medical Park and Medical City; Education Services, which will feature universities and industry centric research and development clusters, whilst courses will also feature a wide variety; Financial services which will see an extension of Malaysia's role in Islamic Financing and the region's premier Islamic Financial Hub; Creative Industries, with a 1,000 acre park dedicated to an extensive digital content industry, the creative entertainment hub will look to open new and available opportunities for multimedia graduates.
Earlier, the Prime Minister of Malaysia and also joint Chairman of the Iskandar Malaysia project, Datuk Seri Abdullah Ahmad Badawi said that "the Sultan has indicated his desire to consider whatever investment opportunities that are available in the region. And his visit to the area also enables him to observe the development that has taken place in Iskandar Malaysia."
His Majesty took a hands on approach with viewing the region, piloting a helicopter alongside HRH Tunku Ibrahim Ismail, the Tunku Mahkota of Johor. After landing in the Iskandar Malaysia region, His Majesty and the Tunku Mahkota of Johor met the Malaysia Prime Minister and a delegation from IRDA, who took His Majesty on a brief tour of the projects.
Following his visit to the Iskandar Malaysia development, His Majesty attended a luncheon hosted in his honour by Sultan Iskandar of Johor at Istana Bukit Serene in Johor Baharu.The Brunei Times
Tuesday, August 26, 2008
Do we still need WTO aids?
Do we still need WTO aids?
JAHANGIR BIN ALAM
DHAKA
Tuesday, August 26, 2008
THE World Trade Organisation (WTO) came into being in Marakkesh on January 1, 1995 following the successful completion of eight years of prolonged negotiations from 1986 to 1994 as a sequel to Uruguay Round of negotiations. The organisation's current membership strength is 153 as on July 23, 2008.
This rule based multilateral institution, which is a successor to the General Agreements on Tariffs and Trade (Gatt) was created in line with the WTO agreements, negotiated, signed and ratified by majority of the UN member countries with a view to helping the producers of various goods and services in pursuit of their respective trade and commerce under a uniform set of rules. It may be noted that Gatt was created in 1947 with a view to reducing tariffs, removing trade barriers and facilitate trade in goods through multilateral negotiations. However, the WTO Agreement encompasses trade in services in addition to trade in goods.
The broad functions of the organisation are: to administer and monitor WTO agreements, act as a forum for trade negotiations, resolve trade related disputes, monitor trade policies of member countries and to cooperate with other international organisations.
The objectives of the organisation as stated in the preamble of the WTO Agreement are: raising standards of living; ensuring full employment; achieving sustainable development; protecting environment and ensuring that developing countries, especially the least developed ones (LDCs) their due share in the growth of international trade.
However, with the passage of time the organisation's emphasis has gradually slipped from concentrating on its avowed objectives of seeing itself primarily as "an organisation for trade liberalisation" and declaring that "the system's overriding purpose is to help trade flow as freely as possible".
This is perhaps the prime reason of prevailing tensions surrounding the mandate and activities of the organisation. The developing countries and NGOs would like to see that it puts added emphasis on achieving public interest goals, while others, for instance - private companies, both localised and multinationals and some industrialised countries favour faster removal of barriers to free trade to enable them to reap benefits out of it at a faster pace.
On the face of it one may find WTO to be stronger and a more democratic institution in comparison with other international organisations like—the World Bank (WB) and the International Monetary Fund (IMF) as it follows the practice of one member one vote and consensus based decision making.
Other positive aspects of the organisation that one would come across are: its special emphasis on sustainable trade related developmental aspects of its members; creation of increased number of committees and undertaking additional programmes towards providing technical; policy and financial assistance to its LDC members; ensuring transparency through prevention of green room negotiations and effective use of web-page; enhancement of its monitoring capacity through publication of World Trade Report and Trade Policy Review; increase in the volume of trade of its members; removal of tariff, non-tariff and para-tariff barriers to the maximum possible extent; widening the scope of trade governance from trade in goods to trade in services, intellectual property rights and investment.
Formulation of new enforceable rules and evolving newer mechanisms to handle matters relating to dispute settlement; bringing trade in agriculture and textiles under its umbrella and inclusion of development policies in the WTO agenda could be seen as no less achievements. However, people have started questioning the nature of democratic practices that the organisation has been pursuing lately.
One could observe lack of transparency and accountability in the decision making process, as at times it takes place through informal meetings. Also there are significant failures of the organisation such as - its lack of human resources and limitations in effective monitoring and enforcement of regulations and decisions, especially in respects of dispute settlements involving its powerful members; failure to involve NGOs as integral part of world trade governance.
Other major failures of WTO that a dispassionate observer would come across are: It inability to fully liberalise trade in agriculture and to some extent - textiles; partial and unbalanced implementation of services agreement like - failure to ensure free movement of labour; increasing the burden on developing countries through fixation of rather limited transition periods in respect of Trips, Trims and Gats; failure in effective implementation of rules relating to providing special and differential treatment for example Swiss formula in Nama agreement to deserving members; absence of clear policy regarding protection of environment and labour rights and last but not the least overloading the WTO agenda by turning it into a forum for discussion rather than a place for resolving critical issues.
Currently, an increasing number of voices are being raised to the effect that free trade should not be an end in itself; rather, it should be a tool for achieving equitable and sustainable development that would help create a better world.
Now a days there are criticisms galore that WTO is dominated by the rich and the mighty and that it functions in a secretive manner to serve the causes of the rich in the garb of trade liberalisation. Failure of the latest Doha Round ministerial negotiations held in Geneva from July 21 - 29, 2008 could be cited as an example to the effect.
However, in spite of the shortcomings and limitations, there is no denying that there has been a significant increase in the volume of world trade as an aftermath of the creation of WTO. The increase could be much more had organisation followed its avowed path both in letter and spirit.
Jahangir Bin Alam is Former Secretary, Foreign Investors' Chamber of Commerce and Industry, Bangladesh
The Brunei Times
JAHANGIR BIN ALAM
DHAKA
Tuesday, August 26, 2008
THE World Trade Organisation (WTO) came into being in Marakkesh on January 1, 1995 following the successful completion of eight years of prolonged negotiations from 1986 to 1994 as a sequel to Uruguay Round of negotiations. The organisation's current membership strength is 153 as on July 23, 2008.
This rule based multilateral institution, which is a successor to the General Agreements on Tariffs and Trade (Gatt) was created in line with the WTO agreements, negotiated, signed and ratified by majority of the UN member countries with a view to helping the producers of various goods and services in pursuit of their respective trade and commerce under a uniform set of rules. It may be noted that Gatt was created in 1947 with a view to reducing tariffs, removing trade barriers and facilitate trade in goods through multilateral negotiations. However, the WTO Agreement encompasses trade in services in addition to trade in goods.
The broad functions of the organisation are: to administer and monitor WTO agreements, act as a forum for trade negotiations, resolve trade related disputes, monitor trade policies of member countries and to cooperate with other international organisations.
The objectives of the organisation as stated in the preamble of the WTO Agreement are: raising standards of living; ensuring full employment; achieving sustainable development; protecting environment and ensuring that developing countries, especially the least developed ones (LDCs) their due share in the growth of international trade.
However, with the passage of time the organisation's emphasis has gradually slipped from concentrating on its avowed objectives of seeing itself primarily as "an organisation for trade liberalisation" and declaring that "the system's overriding purpose is to help trade flow as freely as possible".
This is perhaps the prime reason of prevailing tensions surrounding the mandate and activities of the organisation. The developing countries and NGOs would like to see that it puts added emphasis on achieving public interest goals, while others, for instance - private companies, both localised and multinationals and some industrialised countries favour faster removal of barriers to free trade to enable them to reap benefits out of it at a faster pace.
On the face of it one may find WTO to be stronger and a more democratic institution in comparison with other international organisations like—the World Bank (WB) and the International Monetary Fund (IMF) as it follows the practice of one member one vote and consensus based decision making.
Other positive aspects of the organisation that one would come across are: its special emphasis on sustainable trade related developmental aspects of its members; creation of increased number of committees and undertaking additional programmes towards providing technical; policy and financial assistance to its LDC members; ensuring transparency through prevention of green room negotiations and effective use of web-page; enhancement of its monitoring capacity through publication of World Trade Report and Trade Policy Review; increase in the volume of trade of its members; removal of tariff, non-tariff and para-tariff barriers to the maximum possible extent; widening the scope of trade governance from trade in goods to trade in services, intellectual property rights and investment.
Formulation of new enforceable rules and evolving newer mechanisms to handle matters relating to dispute settlement; bringing trade in agriculture and textiles under its umbrella and inclusion of development policies in the WTO agenda could be seen as no less achievements. However, people have started questioning the nature of democratic practices that the organisation has been pursuing lately.
One could observe lack of transparency and accountability in the decision making process, as at times it takes place through informal meetings. Also there are significant failures of the organisation such as - its lack of human resources and limitations in effective monitoring and enforcement of regulations and decisions, especially in respects of dispute settlements involving its powerful members; failure to involve NGOs as integral part of world trade governance.
Other major failures of WTO that a dispassionate observer would come across are: It inability to fully liberalise trade in agriculture and to some extent - textiles; partial and unbalanced implementation of services agreement like - failure to ensure free movement of labour; increasing the burden on developing countries through fixation of rather limited transition periods in respect of Trips, Trims and Gats; failure in effective implementation of rules relating to providing special and differential treatment for example Swiss formula in Nama agreement to deserving members; absence of clear policy regarding protection of environment and labour rights and last but not the least overloading the WTO agenda by turning it into a forum for discussion rather than a place for resolving critical issues.
Currently, an increasing number of voices are being raised to the effect that free trade should not be an end in itself; rather, it should be a tool for achieving equitable and sustainable development that would help create a better world.
Now a days there are criticisms galore that WTO is dominated by the rich and the mighty and that it functions in a secretive manner to serve the causes of the rich in the garb of trade liberalisation. Failure of the latest Doha Round ministerial negotiations held in Geneva from July 21 - 29, 2008 could be cited as an example to the effect.
However, in spite of the shortcomings and limitations, there is no denying that there has been a significant increase in the volume of world trade as an aftermath of the creation of WTO. The increase could be much more had organisation followed its avowed path both in letter and spirit.
Jahangir Bin Alam is Former Secretary, Foreign Investors' Chamber of Commerce and Industry, Bangladesh
The Brunei Times
Monday, August 25, 2008
Asean, India set to seal trade deal
Asean, India set to seal trade deal
From the ground up: An Indonesian labourer works at a construction site in Jakarta, on Friday. Asean ministers will finalise this week a trade deal with India. Picture: EPASINGAPORE
Monday, August 25, 2008
ASEAN is set this week to finalise a free trade agreement with India and hold talks with Australia and New Zealand, signalling the importance of regional pacts amid fading hopes for a global trading regime.
Association of Southeast Asian Nations (Asean) economic ministers, meeting in Singapore from today to Friday, are expected to put the final touches on an Asean-India trade in goods pact agreed on by senior officials earlier this month.
The deal covering billions of dollars is expected to be signed during the Asean-India Summit in December, officials have said.
Asean economic ministers will also hold talks with their counterparts from Australia and New Zealand in an effort to have a trade agreement ready for signing by December, a Southeast Asian diplomatic source said.
Australian Foreign Minister Stephen Smith said recently Canberra hoped to conclude the talks with the 10-member Asean in Singapore, but the source said this might not be possible because certain issues still have to be resolved.
But the source added the issues, one of them concerning the rights of New Zealand's indigenous peoples, were minor. He was confident a deal will be reached in time for the Asean Summit in Bangkok in December.
Asean has agreed to gradually tear down barriers to trade in goods and services with China and South Korea and has signed a wide-ranging economic partnership deal with Japan, which also covers investments.
Forging the trade links with India and the two Pacific nations will complete the bloc's ties with all its key Asia-Pacific trading partners, and could be a catalyst for a region-wide free-trade zone, officials said.
Asean has a combined population of about 550 million people. It is a diverse group which ranges from high-tech Singapore to poverty-stricken Myanmar, and the world's most populous Muslim nation, Indonesia.
Asean is already a free-trade area with 90 per cent of goods traded having tariffs between zero and five per cent.
This week the ministers are expected to discuss the impact of high oil and food prices and the escalating global economic slowdown on their economies.
But officials said the overriding focus would be on efforts to achieve a single market and manufacturing base by 2015 to raise Asean's profile in the face of competition from China and India.
"To stay in the game, Asean must become a strong integrated region," Singapore Prime Minister Lee Hsien Loong said.
He warned that, individually, Asean states are "only tiny blips on the radar screens of investors".
Indonesian Trade Minister Mari Pangestu said Asean is likely to focus more on implementing and strengthening its free-trade agreements (FTAs) than on planning for a massive 16-nation pact including its key regional trading partners and covering about half of the global population.
But she agreed the FTAs could evolve in the future.
"What we are seeing is that Asean is at the focal point of all these trade agreements," Pangestu told AFP, noting that all the Asean deals with individual countries are similar in structure.
"Eventually, when you consolidate the FTAs, it is possible that you could end up with something like that (an Asia-wide FTA)."
Regional FTAs could gain fresh momentum after the latest attempt to end a seven-year deadlock in the so-called Doha Round of global trade talks broke down in July because of a dispute between India and the United States over agricultural tariffs.
The Asian Development Bank (ADB), in a recent study on Asian regionalism, said "substantial gains could be realised from consolidating the many FTAs into a single, region-wide one" and from adopting practices to guide future regional and sub-regional FTAs.
But while Asia is forging ahead with trade linkages, the region has a major task in integrating its financial markets which are now larger, deeper and more sophisticated than they were a decade ago, it said.
The region also has to make sure the benefits of economic progress reach a larger number of people, especially the poor, the Manila-based ADB said.
"Governments need to connect the poor to the thriving regional economy by eliminating labour market barriers, investing in workers' capabilities, and building infrastructure to connect disadvantaged regions with economic centres," said the agency, which aims to reduce poverty.
The region was on the right track, however, the ADB said.
"We are witnessing the beginnings of a strong, prosperous, outward-looking Asian economic community, regionally integrated yet connected with global markets, and with responsibility and influence to match its economic weight," the ADB said.AFP
From the ground up: An Indonesian labourer works at a construction site in Jakarta, on Friday. Asean ministers will finalise this week a trade deal with India. Picture: EPASINGAPORE
Monday, August 25, 2008
ASEAN is set this week to finalise a free trade agreement with India and hold talks with Australia and New Zealand, signalling the importance of regional pacts amid fading hopes for a global trading regime.
Association of Southeast Asian Nations (Asean) economic ministers, meeting in Singapore from today to Friday, are expected to put the final touches on an Asean-India trade in goods pact agreed on by senior officials earlier this month.
The deal covering billions of dollars is expected to be signed during the Asean-India Summit in December, officials have said.
Asean economic ministers will also hold talks with their counterparts from Australia and New Zealand in an effort to have a trade agreement ready for signing by December, a Southeast Asian diplomatic source said.
Australian Foreign Minister Stephen Smith said recently Canberra hoped to conclude the talks with the 10-member Asean in Singapore, but the source said this might not be possible because certain issues still have to be resolved.
But the source added the issues, one of them concerning the rights of New Zealand's indigenous peoples, were minor. He was confident a deal will be reached in time for the Asean Summit in Bangkok in December.
Asean has agreed to gradually tear down barriers to trade in goods and services with China and South Korea and has signed a wide-ranging economic partnership deal with Japan, which also covers investments.
Forging the trade links with India and the two Pacific nations will complete the bloc's ties with all its key Asia-Pacific trading partners, and could be a catalyst for a region-wide free-trade zone, officials said.
Asean has a combined population of about 550 million people. It is a diverse group which ranges from high-tech Singapore to poverty-stricken Myanmar, and the world's most populous Muslim nation, Indonesia.
Asean is already a free-trade area with 90 per cent of goods traded having tariffs between zero and five per cent.
This week the ministers are expected to discuss the impact of high oil and food prices and the escalating global economic slowdown on their economies.
But officials said the overriding focus would be on efforts to achieve a single market and manufacturing base by 2015 to raise Asean's profile in the face of competition from China and India.
"To stay in the game, Asean must become a strong integrated region," Singapore Prime Minister Lee Hsien Loong said.
He warned that, individually, Asean states are "only tiny blips on the radar screens of investors".
Indonesian Trade Minister Mari Pangestu said Asean is likely to focus more on implementing and strengthening its free-trade agreements (FTAs) than on planning for a massive 16-nation pact including its key regional trading partners and covering about half of the global population.
But she agreed the FTAs could evolve in the future.
"What we are seeing is that Asean is at the focal point of all these trade agreements," Pangestu told AFP, noting that all the Asean deals with individual countries are similar in structure.
"Eventually, when you consolidate the FTAs, it is possible that you could end up with something like that (an Asia-wide FTA)."
Regional FTAs could gain fresh momentum after the latest attempt to end a seven-year deadlock in the so-called Doha Round of global trade talks broke down in July because of a dispute between India and the United States over agricultural tariffs.
The Asian Development Bank (ADB), in a recent study on Asian regionalism, said "substantial gains could be realised from consolidating the many FTAs into a single, region-wide one" and from adopting practices to guide future regional and sub-regional FTAs.
But while Asia is forging ahead with trade linkages, the region has a major task in integrating its financial markets which are now larger, deeper and more sophisticated than they were a decade ago, it said.
The region also has to make sure the benefits of economic progress reach a larger number of people, especially the poor, the Manila-based ADB said.
"Governments need to connect the poor to the thriving regional economy by eliminating labour market barriers, investing in workers' capabilities, and building infrastructure to connect disadvantaged regions with economic centres," said the agency, which aims to reduce poverty.
The region was on the right track, however, the ADB said.
"We are witnessing the beginnings of a strong, prosperous, outward-looking Asian economic community, regionally integrated yet connected with global markets, and with responsibility and influence to match its economic weight," the ADB said.AFP
Wednesday, August 20, 2008
ASEAN members viewed as "tiny blips" on investors' radar screens
From Monsters and Critics.com
Business News
ASEAN members viewed as "tiny blips" on investors' radar screens
By DPA
Aug 20, 2008, 6:17 GMT
Singapore - Members of the Association of South-East Asian Nations (ASEAN) are only 'tiny blips' on investors' radar screens compared to China and India, Singapore Prime Minister Lee Hsien Loong said Wednesday.
Opening the 29th ASEAN Inter-Parliamentary Assembly (AIPA) session, Lee said the 10-member group has to struggle to get its share of investments, jobs and growth.
Through hosting the Beijing Olympic, China had shown the world the talents, energy and organizational prowess of its people, Lee said. 'India's economy too has considerable dynamism, and is moving up in terms of skills and technology,' he added.
ASEAN will become a single market and production base by 2015 as long as the organization adheres to its timetable, Lee said. 'To stay in the game, ASEAN must become a strong and integrated region.'
'Then collectively, we will form a bigger blip on the radar screens, and become a more attractive and worthwhile economic partner, whether for multinational corporations or other countries,' Lee said.
He also stressed the importance of all member states ratifying the ASEAN Charter which will turn the group into a rule-based legal entity. It has been ratified by seven members so far.
Future stability cannot be taken for granted, Lee said, citing the problems stemming from the sub-prime mortgage crisis and the failure of the latest round of the Doha trade negotiations in Geneva.
He urged the parliamentarians 'to stand firm against xenophobic attitudes, and to support policies which keep our economies open and integrated.'
ASEAN comprises Singapore, Thailand, Malaysia, Indonesia, the Philippines, Brunei, Vietnam, Laos, Cambodia and Myanmar.
© Copyright 2007 by monstersandcritics.com.
This notice cannot be removed without permission.
Business News
ASEAN members viewed as "tiny blips" on investors' radar screens
By DPA
Aug 20, 2008, 6:17 GMT
Singapore - Members of the Association of South-East Asian Nations (ASEAN) are only 'tiny blips' on investors' radar screens compared to China and India, Singapore Prime Minister Lee Hsien Loong said Wednesday.
Opening the 29th ASEAN Inter-Parliamentary Assembly (AIPA) session, Lee said the 10-member group has to struggle to get its share of investments, jobs and growth.
Through hosting the Beijing Olympic, China had shown the world the talents, energy and organizational prowess of its people, Lee said. 'India's economy too has considerable dynamism, and is moving up in terms of skills and technology,' he added.
ASEAN will become a single market and production base by 2015 as long as the organization adheres to its timetable, Lee said. 'To stay in the game, ASEAN must become a strong and integrated region.'
'Then collectively, we will form a bigger blip on the radar screens, and become a more attractive and worthwhile economic partner, whether for multinational corporations or other countries,' Lee said.
He also stressed the importance of all member states ratifying the ASEAN Charter which will turn the group into a rule-based legal entity. It has been ratified by seven members so far.
Future stability cannot be taken for granted, Lee said, citing the problems stemming from the sub-prime mortgage crisis and the failure of the latest round of the Doha trade negotiations in Geneva.
He urged the parliamentarians 'to stand firm against xenophobic attitudes, and to support policies which keep our economies open and integrated.'
ASEAN comprises Singapore, Thailand, Malaysia, Indonesia, the Philippines, Brunei, Vietnam, Laos, Cambodia and Myanmar.
© Copyright 2007 by monstersandcritics.com.
This notice cannot be removed without permission.
Wednesday, August 13, 2008
India may scrap Brunei oil duty
India may scrap Brunei oil duty
Hadi DP Mahmud
BANDAR SERI BEGAWAN
Wednesday, August 13, 2008
THE INDIAN government has reportedly acceded to the Brunei government's request for it to be allowed to export crude oil to India at zero duties, Indian press reported yesterday.
"We have agreed to phase out duties on crude oil over a period of time for Brunei and not for any other country," an Indian government official was quoted as saying by the Indian press.
Crude oil forms the bulk of Brunei's exports, said the Indian government official, adding that this is not the case with neighbouring Malaysia.
It comes as a concession under the Asean-India Free Trade Agreement (FTA).
During negotiations for the trade pact, which were concluded recently, the sultanate requested that India scrap the duties on crude oil in exchange for the lowering of import duties on a number of goods from one of the Association of Southeast Asian Nations' (Asean) dialogue partners.
Government officials from the two countries have yet to officially announce the concession.
It is not a binding commitment for India, which has unilaterally scrapped duties on import of crude oil.
India imports 75 per cent of its crude oil requirements. As an "inflation control measure", the Indian government has scrapped the import duty on the commodity, Indian press reported.
Negotiations on the modalities for trade in goods between India and the 10-member bloc reached a conclusion last week at the 4th Meeting of the 39th Asean Senior Economic Officials Meeting (SEOM) at The Empire Hotel & Country Club.
Although running late by two years, the FTA is now scheduled for enforcement from January 1 next year after it is ratified by the governments of Asean member countries and India. On August 27 this year, Asean trade ministers will meet top Indian officials in Singapore to formally announce the conclusion of talks.
The key meeting comes closely following the collapse of the Doha round of global trade talks last week, a failure which analysts have said prompted countries to expedite negotiations for regional trade agreements. The Asean-India FTA is the bloc's fourth with a dialogue partner, following similar arrangements with Japan, China and South Korea.
Following the conclusion of talks on modalities for trade in goods, Asean and India will also look at establishing a similar pact which will also include services like the knowledge industry, Indian High Commissioner to Brunei R V Warjri said in an earlier interview.The Brunei Times
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Hadi DP Mahmud
BANDAR SERI BEGAWAN
Wednesday, August 13, 2008
THE INDIAN government has reportedly acceded to the Brunei government's request for it to be allowed to export crude oil to India at zero duties, Indian press reported yesterday.
"We have agreed to phase out duties on crude oil over a period of time for Brunei and not for any other country," an Indian government official was quoted as saying by the Indian press.
Crude oil forms the bulk of Brunei's exports, said the Indian government official, adding that this is not the case with neighbouring Malaysia.
It comes as a concession under the Asean-India Free Trade Agreement (FTA).
During negotiations for the trade pact, which were concluded recently, the sultanate requested that India scrap the duties on crude oil in exchange for the lowering of import duties on a number of goods from one of the Association of Southeast Asian Nations' (Asean) dialogue partners.
Government officials from the two countries have yet to officially announce the concession.
It is not a binding commitment for India, which has unilaterally scrapped duties on import of crude oil.
India imports 75 per cent of its crude oil requirements. As an "inflation control measure", the Indian government has scrapped the import duty on the commodity, Indian press reported.
Negotiations on the modalities for trade in goods between India and the 10-member bloc reached a conclusion last week at the 4th Meeting of the 39th Asean Senior Economic Officials Meeting (SEOM) at The Empire Hotel & Country Club.
Although running late by two years, the FTA is now scheduled for enforcement from January 1 next year after it is ratified by the governments of Asean member countries and India. On August 27 this year, Asean trade ministers will meet top Indian officials in Singapore to formally announce the conclusion of talks.
The key meeting comes closely following the collapse of the Doha round of global trade talks last week, a failure which analysts have said prompted countries to expedite negotiations for regional trade agreements. The Asean-India FTA is the bloc's fourth with a dialogue partner, following similar arrangements with Japan, China and South Korea.
Following the conclusion of talks on modalities for trade in goods, Asean and India will also look at establishing a similar pact which will also include services like the knowledge industry, Indian High Commissioner to Brunei R V Warjri said in an earlier interview.The Brunei Times
printer friendly version
Thursday, July 31, 2008
WTO negotiations collapse
WTO negotiations collapse
Talk to the hand: WTO head Pascal Lamy gestures after the informal session during talks at the WTO headquarters, in Geneva, Switzerland, on Tuesday. Picture: EPAGENEVA
Thursday, July 31, 2008
MARATHON talks on a new global trade pact collapsed on Tuesday (early morning yesterday in Brunei) as the US and India refused to compromise over a proposal to help poor farmers deal with floods of imports.
Ministers from other countries expressed incredulity that the trade liberalisation talks could have foundered in their ninth day over a technical measure to restrict imports.
"Someone coming from another planet would not believe that after the progress made, we would not be able to conclude," Brazil's Foreign Minister Celso Amorim said.
"This is a very painful failure and a real setback for the global economy at a time when we really needed some good news," EU Trade Commissioner Peter Mandelson said, adding that developing countries would suffer most.
The collapse could hurt business sentiment even if it will have no immediate impact on trade and could fuel protectionist sentiment, encourage more bilateral trade deals and call into question how the world will deal with complex issues like climate change and the food crisis.
The failure to reach a breakthrough at the World Trade Organisation after nearly seven years of talks means the prospects for resuming the Doha talks to free up world trade if they can be resuscitated after the setback could be put back several years.
But WTO chief Pascal Lamy said ministers wanted him to revive the talks quickly and he would not "throw in the towel".
Lamy said the deal would eventually have saved the world economy US$130 billion a year just in lower tariffs.
He called ministers from about 35 key WTO players to Geneva last week to seek a breakthrough in the Doha round, launched in late 2001 to boost the world economy and help developing countries export their way out of poverty.
Ministers reached about 80-85 per cent of an outline deal on the core areas of farm and industrial goods, he said.
But differences in these areas between rich and poor countries and importers and exporters proved too much to bridge.
The final stumbling block concerned the "special safeguard mechanism" a proposal to let developing countries raise farm tariffs in the face of a surge in imports or collapse in prices.
India and Indonesia said they needed the measure to protect millions of subsistence farmers from unexpected shocks arising from opening up their borders.
But the US feared its agribusinesses would lose new markets just as it made painful cuts in its farm subsidies.
Developing country food exporters like Costa Rica and Uruguay said the measure as framed would cut them off from key markets and even reduce existing trade.
"It's unfortunate in a development round, the last mile we couldn't run because of an issue concerning livelihood security," Indian Commerce Minister Kamal Nath said.
The US and EU had also clashed with big emerging countries like India and China over flexible treatment for developing nations in cutting industrial tariffs.
US Trade Representative Susan Schwab said US offers for the talks remained on the table. "To ensure that the advances we made this week are not lost, the United States will continue to stand by our current offers, but we maintain that they are still contingent on others coming forward with ambitious offers that will create new market access. So far, that ambition is not evident," she said. Reuters
Talk to the hand: WTO head Pascal Lamy gestures after the informal session during talks at the WTO headquarters, in Geneva, Switzerland, on Tuesday. Picture: EPAGENEVA
Thursday, July 31, 2008
MARATHON talks on a new global trade pact collapsed on Tuesday (early morning yesterday in Brunei) as the US and India refused to compromise over a proposal to help poor farmers deal with floods of imports.
Ministers from other countries expressed incredulity that the trade liberalisation talks could have foundered in their ninth day over a technical measure to restrict imports.
"Someone coming from another planet would not believe that after the progress made, we would not be able to conclude," Brazil's Foreign Minister Celso Amorim said.
"This is a very painful failure and a real setback for the global economy at a time when we really needed some good news," EU Trade Commissioner Peter Mandelson said, adding that developing countries would suffer most.
The collapse could hurt business sentiment even if it will have no immediate impact on trade and could fuel protectionist sentiment, encourage more bilateral trade deals and call into question how the world will deal with complex issues like climate change and the food crisis.
The failure to reach a breakthrough at the World Trade Organisation after nearly seven years of talks means the prospects for resuming the Doha talks to free up world trade if they can be resuscitated after the setback could be put back several years.
But WTO chief Pascal Lamy said ministers wanted him to revive the talks quickly and he would not "throw in the towel".
Lamy said the deal would eventually have saved the world economy US$130 billion a year just in lower tariffs.
He called ministers from about 35 key WTO players to Geneva last week to seek a breakthrough in the Doha round, launched in late 2001 to boost the world economy and help developing countries export their way out of poverty.
Ministers reached about 80-85 per cent of an outline deal on the core areas of farm and industrial goods, he said.
But differences in these areas between rich and poor countries and importers and exporters proved too much to bridge.
The final stumbling block concerned the "special safeguard mechanism" a proposal to let developing countries raise farm tariffs in the face of a surge in imports or collapse in prices.
India and Indonesia said they needed the measure to protect millions of subsistence farmers from unexpected shocks arising from opening up their borders.
But the US feared its agribusinesses would lose new markets just as it made painful cuts in its farm subsidies.
Developing country food exporters like Costa Rica and Uruguay said the measure as framed would cut them off from key markets and even reduce existing trade.
"It's unfortunate in a development round, the last mile we couldn't run because of an issue concerning livelihood security," Indian Commerce Minister Kamal Nath said.
The US and EU had also clashed with big emerging countries like India and China over flexible treatment for developing nations in cutting industrial tariffs.
US Trade Representative Susan Schwab said US offers for the talks remained on the table. "To ensure that the advances we made this week are not lost, the United States will continue to stand by our current offers, but we maintain that they are still contingent on others coming forward with ambitious offers that will create new market access. So far, that ambition is not evident," she said. Reuters
Friday, July 25, 2008
New tensions spoil struggling WTO talks
New tensions spoil struggling WTO talks
GENEVA
Friday, July 25, 2008
STRAINS between big and small countries worsened tension between rich and poor at WTO trade talks here yesterday as countries struggled to thresh out a new global free-trade pact.
Negotiators continued meetings after a gruelling session overnight, but despite efforts by some to stress progress was being made, it was clear stark differences remained over critical sticking-points.
"On some of the key issues, positions still remain too far apart," WTO director-general Pascal Lamy conceded at a meeting of the organisation's 153 members yesterday, his spokesman told reporters.
The World Trade Organisation has convened a meeting here of 35 leading trade negotiators with the aim of mapping out a deal to conclude the long-delayed Doha round of global trade talks.
The Doha round began seven years ago with the aim of helping poor countries, but it has been delayed by disputes between the rich developed world and poorer developing nations over cutting subsidies and tariffs.
After talks between all 35 invited delegations failed to deliver progress, Lamy has concentrated his efforts on trying to get a group of seven leading trade powers to find common ground.
Only the United States, the European Union, Japan, India, Brazil, Australia and China were involved in talks until the early hours yesterday morning, which drew complaints from smaller nations.
Eight delegations complained about the approach at a morning meeting, Rockwell said, with host nation Switzerland leading the criticism.
The European Trade Commissioner Mandelson admitted that the overnight trade talks had been counted among the "most difficult and confrontational negotiation" of his term.
In a blog, Mandelson, commissioner for the last four years, described the 12 hours of negotiation between the EU, United States, Australia, China, India, Brazil and Japan as "tense".
Leaving the meeting yesterday morning, India's Trade Minister Kamal Nath said there had been progress "but there is still some heavy lifting to be done".
The negotiations were meant to be finished today, but Rockwell said yesterday that they were likely to continue past this day.
"Clearly the timetable has slipped. Given our track record in this respect one should not be terribly surprised," he told reporters.Both the US and EU have made opening gambits by offering to reduce trade-distorting assistance to their farmers and they are now waiting for steps by developing nations to open their markets for industrial goods. On Tuesday, Washington offered to cut its official aid ceiling for its farmers.AFP
GENEVA
Friday, July 25, 2008
STRAINS between big and small countries worsened tension between rich and poor at WTO trade talks here yesterday as countries struggled to thresh out a new global free-trade pact.
Negotiators continued meetings after a gruelling session overnight, but despite efforts by some to stress progress was being made, it was clear stark differences remained over critical sticking-points.
"On some of the key issues, positions still remain too far apart," WTO director-general Pascal Lamy conceded at a meeting of the organisation's 153 members yesterday, his spokesman told reporters.
The World Trade Organisation has convened a meeting here of 35 leading trade negotiators with the aim of mapping out a deal to conclude the long-delayed Doha round of global trade talks.
The Doha round began seven years ago with the aim of helping poor countries, but it has been delayed by disputes between the rich developed world and poorer developing nations over cutting subsidies and tariffs.
After talks between all 35 invited delegations failed to deliver progress, Lamy has concentrated his efforts on trying to get a group of seven leading trade powers to find common ground.
Only the United States, the European Union, Japan, India, Brazil, Australia and China were involved in talks until the early hours yesterday morning, which drew complaints from smaller nations.
Eight delegations complained about the approach at a morning meeting, Rockwell said, with host nation Switzerland leading the criticism.
The European Trade Commissioner Mandelson admitted that the overnight trade talks had been counted among the "most difficult and confrontational negotiation" of his term.
In a blog, Mandelson, commissioner for the last four years, described the 12 hours of negotiation between the EU, United States, Australia, China, India, Brazil and Japan as "tense".
Leaving the meeting yesterday morning, India's Trade Minister Kamal Nath said there had been progress "but there is still some heavy lifting to be done".
The negotiations were meant to be finished today, but Rockwell said yesterday that they were likely to continue past this day.
"Clearly the timetable has slipped. Given our track record in this respect one should not be terribly surprised," he told reporters.Both the US and EU have made opening gambits by offering to reduce trade-distorting assistance to their farmers and they are now waiting for steps by developing nations to open their markets for industrial goods. On Tuesday, Washington offered to cut its official aid ceiling for its farmers.AFP
Thursday, July 24, 2008
HRH: Realising Asean-China FTA signals opportunities
HRH: Realising Asean-China FTA signals opportunities
HRH Prince Mohamed Bolkiah: Trade has grown 20% in two years.Picture: Infofoto
BANDAR SERI BEGAWAN
Thursday, July 24, 2008
Workshops hosted by Brunei to see young entrepreneurs getting together
NEW opportunities are emerging for local businessmen and women with the realisation of the Asean-China Free Trade Area, His Royal Highness Prince Mohamed Bolkiah said during the Asean-China Post Ministerial Conference in Singapore.
"Our two-way trade has grown by some 20 per cent over the last two years. What now remains is to complete the Agreement on Investment to realise the Free Trade Area (ACFTA)," the Minister of Foreign Affairs and Trade said.
His Royal Highness said that the agreement will "represent a considerable advance in our economic cooperation" and have a "significant long-term effect on the lives of our people", despite the complexity and time consumption leading to the signing of the agreement.
The minister expressed his pleasure at the Framework of Cooperation between Bimp-Eaga and China and lauded China's efforts to set up the Pan Beibu Gulf Economic Sub-Regional Zone which will complement Brunei's effort in the Bimp-Eaga Sub-Regional Growth Area.
His Royal Highness said that workshops hosted by Brunei will soon see local entrepreneurs participating in the Asean-China Young Entrepreneurs' Association to exchange ideas and work closely together.
He continued to say that the idea came from the Commemorative Summit in Nanning which has produced a considerably strong dialogue which has resulted in Brunei's development.
His Royal Highness added that there was a need to continue negotiations on the agreement on investment and the Asean-China Centre Memorandum of Understanding.
"We would also like to develop an open skies agreement, in order to increase trade and tourism between Asean and China," His Royal Highness added.
The minister mentioned that the established relations between Brunei and China which has continued to strengthen should be further deliberated.
"There is now a need to consider what we can do to bring our ordinary people closer together in knowledge, understanding and appreciation of each other and our backgrounds, beliefs and ways of life," stated the minister.
The Asean-China Post Ministerial Conference was jointly chaired by His Royal Highness and China's Foreign Affairs Minister Yang Jiechi at the Shangri-La Hotel in Singapore.
Later in the evening a gala dinner was hosted by Singapore's Foreign Affairs Minister George Yeo at the Istana Banquet Hall. Also in attendance was Her Royal Highness Pengiran Anak Isteri Pengiran Anak Hajah Zariah, and other foreign ministers of Asean and its dialogue partners. (SHR1)
The Brunei Times
HRH Prince Mohamed Bolkiah: Trade has grown 20% in two years.Picture: Infofoto
BANDAR SERI BEGAWAN
Thursday, July 24, 2008
Workshops hosted by Brunei to see young entrepreneurs getting together
NEW opportunities are emerging for local businessmen and women with the realisation of the Asean-China Free Trade Area, His Royal Highness Prince Mohamed Bolkiah said during the Asean-China Post Ministerial Conference in Singapore.
"Our two-way trade has grown by some 20 per cent over the last two years. What now remains is to complete the Agreement on Investment to realise the Free Trade Area (ACFTA)," the Minister of Foreign Affairs and Trade said.
His Royal Highness said that the agreement will "represent a considerable advance in our economic cooperation" and have a "significant long-term effect on the lives of our people", despite the complexity and time consumption leading to the signing of the agreement.
The minister expressed his pleasure at the Framework of Cooperation between Bimp-Eaga and China and lauded China's efforts to set up the Pan Beibu Gulf Economic Sub-Regional Zone which will complement Brunei's effort in the Bimp-Eaga Sub-Regional Growth Area.
His Royal Highness said that workshops hosted by Brunei will soon see local entrepreneurs participating in the Asean-China Young Entrepreneurs' Association to exchange ideas and work closely together.
He continued to say that the idea came from the Commemorative Summit in Nanning which has produced a considerably strong dialogue which has resulted in Brunei's development.
His Royal Highness added that there was a need to continue negotiations on the agreement on investment and the Asean-China Centre Memorandum of Understanding.
"We would also like to develop an open skies agreement, in order to increase trade and tourism between Asean and China," His Royal Highness added.
The minister mentioned that the established relations between Brunei and China which has continued to strengthen should be further deliberated.
"There is now a need to consider what we can do to bring our ordinary people closer together in knowledge, understanding and appreciation of each other and our backgrounds, beliefs and ways of life," stated the minister.
The Asean-China Post Ministerial Conference was jointly chaired by His Royal Highness and China's Foreign Affairs Minister Yang Jiechi at the Shangri-La Hotel in Singapore.
Later in the evening a gala dinner was hosted by Singapore's Foreign Affairs Minister George Yeo at the Istana Banquet Hall. Also in attendance was Her Royal Highness Pengiran Anak Isteri Pengiran Anak Hajah Zariah, and other foreign ministers of Asean and its dialogue partners. (SHR1)
The Brunei Times
Wednesday, July 9, 2008
SCORE can provide training and facilities in renewable energy
SCORE can provide training and facilities in renewable energy
Sarawak State Secretary: Datuk Amar Wilson Baya Dandot at the briefing on SCORE. Picture: Jefrisalas
HADI DP MAHMUD
BANDAR SERI BEGAWAN
Wednesday, July 9, 2008
THE Sarawak Corridor of Renewable Energy (SCORE) will be able to provide Brunei with a convenient destination for training and human capital development facilities, the state secretary of the Sarawak government said.
"The training facilities that we will be offering will not be restricted for our use only. It will be for the people in this region," Datuk Amar Wilson Baya Dandot told The Brunei Times following a briefing attended by the Second Minister of Foreign Affairs and Trade and ministry officials at the Empire Hotel and Country Club yesterday.
SCORE, which stretches 320km from Bintulu to Mukah in the Malaysian state of 607,800 people, is expected to bring in up to RM500 billion worth of investments and create some 1.6 million jobs over a 30-year period. Out of the 67 industries identified, 10 priority industries have been pinpointed to attract local and foreign direct investors.
"When you're starting an industry, manpower will be needed. Initially we will be sourcing them from the outside. But by 20, 30 years from now we're going to see this pool of expertise from many different countries, who will be sharing essential knowledge amongst themselves," said Datuk Amar Wilson.
The core of the corridor is the energy resources, particularly hydropower (28,000 MW), coal (1.46 billion tonnes), and natural gas (40.9 trillion square cubic feet) found in abundance in the Central Region. The Regional Corridor Development Authority, which will be managing and implementing the projects, says this will allow Sarawak to price its energy competitively and encourage investments in power generation and energy-intensive industries.
The state secretary gave the briefing in the presence of Dato Sri Hj Awg Tengah Ali Hasan, Sarawak's second Minister of Planning and Resource Management and Minister of Public Utilities, who was in the country with Tun Datuk Patinggi Abang Hj Muhammad Salahuddin Abang Barieng, Yang Di-Pertua Negeri Sarawak.
The Sarawak delegation was in Brunei for three days as part of Tun Datuk Patinggi Abang Hj Muhammad Salahuddin's introductory visit.
Sarawak State Secretary: Datuk Amar Wilson Baya Dandot at the briefing on SCORE. Picture: Jefrisalas
HADI DP MAHMUD
BANDAR SERI BEGAWAN
Wednesday, July 9, 2008
THE Sarawak Corridor of Renewable Energy (SCORE) will be able to provide Brunei with a convenient destination for training and human capital development facilities, the state secretary of the Sarawak government said.
"The training facilities that we will be offering will not be restricted for our use only. It will be for the people in this region," Datuk Amar Wilson Baya Dandot told The Brunei Times following a briefing attended by the Second Minister of Foreign Affairs and Trade and ministry officials at the Empire Hotel and Country Club yesterday.
SCORE, which stretches 320km from Bintulu to Mukah in the Malaysian state of 607,800 people, is expected to bring in up to RM500 billion worth of investments and create some 1.6 million jobs over a 30-year period. Out of the 67 industries identified, 10 priority industries have been pinpointed to attract local and foreign direct investors.
"When you're starting an industry, manpower will be needed. Initially we will be sourcing them from the outside. But by 20, 30 years from now we're going to see this pool of expertise from many different countries, who will be sharing essential knowledge amongst themselves," said Datuk Amar Wilson.
The core of the corridor is the energy resources, particularly hydropower (28,000 MW), coal (1.46 billion tonnes), and natural gas (40.9 trillion square cubic feet) found in abundance in the Central Region. The Regional Corridor Development Authority, which will be managing and implementing the projects, says this will allow Sarawak to price its energy competitively and encourage investments in power generation and energy-intensive industries.
The state secretary gave the briefing in the presence of Dato Sri Hj Awg Tengah Ali Hasan, Sarawak's second Minister of Planning and Resource Management and Minister of Public Utilities, who was in the country with Tun Datuk Patinggi Abang Hj Muhammad Salahuddin Abang Barieng, Yang Di-Pertua Negeri Sarawak.
The Sarawak delegation was in Brunei for three days as part of Tun Datuk Patinggi Abang Hj Muhammad Salahuddin's introductory visit.
Saturday, June 14, 2008
Miri losing its pull with shoppers
Miri losing its pull with shoppers
UBAIDILLAH MASLI
BANDAR SERI BEGAWAN
Saturday, June 14, 2008
MIRI has always been a popular hot-spot for Bruneians who wish to stock up on food and miscellaneous supplies due to its cheaper products.
Of late, however, it appears that travel costs and safety fears has deterred many from travelling across the border to perform the monthly grocery run.
According to a news report from the media in Miri, it was found that there was a significant decrease in the number of Bruneians visiting the city.
For the first five months of this year, it was stated that there was a total of 365,190 visitors passing through the Sg Tujoh Immigration Post. This is a decrease of 126,774 visitors compared to the same period last year. Of this decrease, 80 per cent, or 101,419 travellers were Bruneians.
A civil servant, Suriani Hj Abdurahman, said that it was probably because people were afraid their cars may be stolen or broken into. She had heard frightening stories of Bruneians who had their vehicles hijacked, or held at knife-point.
She added that the higher cost of fuel in Malaysia, the tolls at the checkpoints and the length of journey itself, may have made Bruneians less inclined to travel to Miri.
"Rather than spend a lot of money to travel to Miri, they might as well shop here," Suriani told The Brunei Times.
She said that Bruneians were now more likely to shop at local supermarkets, as the goods may be cheaper when all the other factors were taken into account in the trip to Miri.
Hj Md Zunaidi Hj Zakaria, an employee at the Prime Minister's Office had similar views. He felt safety concerns may be the main reason for fewer people going to Miri.
He also felt that this was due to the trend that Bruneians now travel to Malaysia for holidays rather than shopping.
One 30-year-old male, working in the Tutong District said that car theft was common in Miri. He had heard of offenders smashing through car windows to steal valuables such as laptops and cameras.
"These stories makes us afraid to go to Miri," he said.
The Brunei Times
UBAIDILLAH MASLI
BANDAR SERI BEGAWAN
Saturday, June 14, 2008
MIRI has always been a popular hot-spot for Bruneians who wish to stock up on food and miscellaneous supplies due to its cheaper products.
Of late, however, it appears that travel costs and safety fears has deterred many from travelling across the border to perform the monthly grocery run.
According to a news report from the media in Miri, it was found that there was a significant decrease in the number of Bruneians visiting the city.
For the first five months of this year, it was stated that there was a total of 365,190 visitors passing through the Sg Tujoh Immigration Post. This is a decrease of 126,774 visitors compared to the same period last year. Of this decrease, 80 per cent, or 101,419 travellers were Bruneians.
A civil servant, Suriani Hj Abdurahman, said that it was probably because people were afraid their cars may be stolen or broken into. She had heard frightening stories of Bruneians who had their vehicles hijacked, or held at knife-point.
She added that the higher cost of fuel in Malaysia, the tolls at the checkpoints and the length of journey itself, may have made Bruneians less inclined to travel to Miri.
"Rather than spend a lot of money to travel to Miri, they might as well shop here," Suriani told The Brunei Times.
She said that Bruneians were now more likely to shop at local supermarkets, as the goods may be cheaper when all the other factors were taken into account in the trip to Miri.
Hj Md Zunaidi Hj Zakaria, an employee at the Prime Minister's Office had similar views. He felt safety concerns may be the main reason for fewer people going to Miri.
He also felt that this was due to the trend that Bruneians now travel to Malaysia for holidays rather than shopping.
One 30-year-old male, working in the Tutong District said that car theft was common in Miri. He had heard of offenders smashing through car windows to steal valuables such as laptops and cameras.
"These stories makes us afraid to go to Miri," he said.
The Brunei Times
Miri losing its pull with shoppers
Miri losing its pull with shoppers
UBAIDILLAH MASLI
BANDAR SERI BEGAWAN
Saturday, June 14, 2008
MIRI has always been a popular hot-spot for Bruneians who wish to stock up on food and miscellaneous supplies due to its cheaper products.
Of late, however, it appears that travel costs and safety fears has deterred many from travelling across the border to perform the monthly grocery run.
According to a news report from the media in Miri, it was found that there was a significant decrease in the number of Bruneians visiting the city.
For the first five months of this year, it was stated that there was a total of 365,190 visitors passing through the Sg Tujoh Immigration Post. This is a decrease of 126,774 visitors compared to the same period last year. Of this decrease, 80 per cent, or 101,419 travellers were Bruneians.
A civil servant, Suriani Hj Abdurahman, said that it was probably because people were afraid their cars may be stolen or broken into. She had heard frightening stories of Bruneians who had their vehicles hijacked, or held at knife-point.
She added that the higher cost of fuel in Malaysia, the tolls at the checkpoints and the length of journey itself, may have made Bruneians less inclined to travel to Miri.
"Rather than spend a lot of money to travel to Miri, they might as well shop here," Suriani told The Brunei Times.
She said that Bruneians were now more likely to shop at local supermarkets, as the goods may be cheaper when all the other factors were taken into account in the trip to Miri.
Hj Md Zunaidi Hj Zakaria, an employee at the Prime Minister's Office had similar views. He felt safety concerns may be the main reason for fewer people going to Miri.
He also felt that this was due to the trend that Bruneians now travel to Malaysia for holidays rather than shopping.
One 30-year-old male, working in the Tutong District said that car theft was common in Miri. He had heard of offenders smashing through car windows to steal valuables such as laptops and cameras.
"These stories makes us afraid to go to Miri," he said.
The Brunei Times
UBAIDILLAH MASLI
BANDAR SERI BEGAWAN
Saturday, June 14, 2008
MIRI has always been a popular hot-spot for Bruneians who wish to stock up on food and miscellaneous supplies due to its cheaper products.
Of late, however, it appears that travel costs and safety fears has deterred many from travelling across the border to perform the monthly grocery run.
According to a news report from the media in Miri, it was found that there was a significant decrease in the number of Bruneians visiting the city.
For the first five months of this year, it was stated that there was a total of 365,190 visitors passing through the Sg Tujoh Immigration Post. This is a decrease of 126,774 visitors compared to the same period last year. Of this decrease, 80 per cent, or 101,419 travellers were Bruneians.
A civil servant, Suriani Hj Abdurahman, said that it was probably because people were afraid their cars may be stolen or broken into. She had heard frightening stories of Bruneians who had their vehicles hijacked, or held at knife-point.
She added that the higher cost of fuel in Malaysia, the tolls at the checkpoints and the length of journey itself, may have made Bruneians less inclined to travel to Miri.
"Rather than spend a lot of money to travel to Miri, they might as well shop here," Suriani told The Brunei Times.
She said that Bruneians were now more likely to shop at local supermarkets, as the goods may be cheaper when all the other factors were taken into account in the trip to Miri.
Hj Md Zunaidi Hj Zakaria, an employee at the Prime Minister's Office had similar views. He felt safety concerns may be the main reason for fewer people going to Miri.
He also felt that this was due to the trend that Bruneians now travel to Malaysia for holidays rather than shopping.
One 30-year-old male, working in the Tutong District said that car theft was common in Miri. He had heard of offenders smashing through car windows to steal valuables such as laptops and cameras.
"These stories makes us afraid to go to Miri," he said.
The Brunei Times
Sunday, January 20, 2008
SABAH Development Corridor (SDC)
Sabah development plan to be launched this month
KOTA KINABALU
Sunday, January 20, 2008
SABAH Development Corridor (SDC), set to be launched by Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi later this month, is seen as a symbolic new year gift for more than three million people in the state.
The initiative, a brainchild of Abdullah, is holistic in manner, covering all sectors of the economy, including infrastructure development and benefiting all segments of the community.
Soon after launching the new Kota Kinabalu International Airport's Terminal II building on February 14 last year, Abdullah indicated that development in Sabah needed to be accelerated.
In what is seen as a panacea to fast track development in Sabah, dubbed the 'Land Below The Wind', he said that there was a need for a blueprint called the Sabah Development Corridor or SDC to achieve the desired result.
Showing his seriousness in the matter, Abdullah then asked the state government under the leadership of Chief Minister Musa Aman to finalise the details as soon as possible, hoping for Sabah to become one of the most developed states in the country.
The Prime Minister is scheduled to launch the SDC, which will be spearheaded by the state's government-linked Yayasan Sabah, at the Sabah Container Port in Menggatal on January 29.
At a media briefing on the SDC here recently, Musa said: "We want a balanced development between urban and rural areas. This development corridor will cover the whole state and not just be confined to pockets."
"Sabah is a big state and if we were to develop only the eastern part, that is Lahad Datu, Tawau and Sandakan, the people in other areas, especially in the interior, might be left behind in terms of development," he said.
That's why we need to develop the whole of Sabah, so that everybody will share the cake of development, he added.
Musa said he believed that the SDC would benefit many people and enhance the quality of life of people in Sabah.
"This SDC is good for everybody and the people of Sabah can expect a better life and hence, we must work together to make it a reality," he said.
Musa said the SDC would create more job opportunities for Sabahans , thus helping to uplift the standard of life as well as reducing unemployement in the state.
The people of Sabah will take the lead, he added.Bernama
KOTA KINABALU
Sunday, January 20, 2008
SABAH Development Corridor (SDC), set to be launched by Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi later this month, is seen as a symbolic new year gift for more than three million people in the state.
The initiative, a brainchild of Abdullah, is holistic in manner, covering all sectors of the economy, including infrastructure development and benefiting all segments of the community.
Soon after launching the new Kota Kinabalu International Airport's Terminal II building on February 14 last year, Abdullah indicated that development in Sabah needed to be accelerated.
In what is seen as a panacea to fast track development in Sabah, dubbed the 'Land Below The Wind', he said that there was a need for a blueprint called the Sabah Development Corridor or SDC to achieve the desired result.
Showing his seriousness in the matter, Abdullah then asked the state government under the leadership of Chief Minister Musa Aman to finalise the details as soon as possible, hoping for Sabah to become one of the most developed states in the country.
The Prime Minister is scheduled to launch the SDC, which will be spearheaded by the state's government-linked Yayasan Sabah, at the Sabah Container Port in Menggatal on January 29.
At a media briefing on the SDC here recently, Musa said: "We want a balanced development between urban and rural areas. This development corridor will cover the whole state and not just be confined to pockets."
"Sabah is a big state and if we were to develop only the eastern part, that is Lahad Datu, Tawau and Sandakan, the people in other areas, especially in the interior, might be left behind in terms of development," he said.
That's why we need to develop the whole of Sabah, so that everybody will share the cake of development, he added.
Musa said he believed that the SDC would benefit many people and enhance the quality of life of people in Sabah.
"This SDC is good for everybody and the people of Sabah can expect a better life and hence, we must work together to make it a reality," he said.
Musa said the SDC would create more job opportunities for Sabahans , thus helping to uplift the standard of life as well as reducing unemployement in the state.
The people of Sabah will take the lead, he added.Bernama
Monday, March 5, 2007
Thai town's trade dies as Malaysia tightens border
Thai town's trade dies as Malaysia tightens border
Border ties: A worker packages Thai-produced rice sold at a hut in the Thai border town of Pekan Mundok, March 1. Business in this dusty, once-bustling Thai village has gone quiet in recent days after Malaysia tightened its border. Picture: AFP
PEKAN MUNDOK, THAILAND
Monday, March 5, 2007
THE morning crowd from Malaysia usually consisted of housewives. They jumped onto rickety wooden boats from Bukit Lata, in northeastern Kelantan state, for a two-minute ride across the filthy Golok River to Pekan Mundok town in Thailand's insurgency-hit Narathiwat province.
But the housewives have stopped coming in recent days after Malaysia tightened its border, and business in this dusty, once-bustling Thai village has gone quiet.
The merchants who sell everything from rice to wild birds and fishing equipment from dilapidated zinc-covered shops worry Malaysia's crackdown on illegal border crossings will further undermine southern Thailand's impoverished economy. And they say Thailand's proposal to extend a wall along the frontier will only worsen their plight.
Tighter security at the border came after Thailand's army-installed Prime Minister Surayud Chulanont and his counterpart from Malaysia Abdullah Ahmad Badawi agreed last month to boost their cooperation in a bid to end three years of separatist unrest in the south of the majority Buddhist kingdom.
There is no official border post at this town, and until recently residents on both sides could cross at will, albeit illegally. That has changed.
"Look, the Malaysian police (are) over there," Bakri Che Mat, 42, a Muslim Thai, said as he pointed to two Malaysian security personnel armed with M-16 rifles on the other side of the river. "They have been there for a week now and Malaysians can no longer cross," he said. "I do not know why the police are preventing Malaysians from coming here. It is safe here. No bombs here," he said.
Residents on the Thai side depended on income from their southern neighbours "for our survival", he added.
At their recent meeting, the Thai and Malaysian leaders said they would continue efforts to end dual nationality for people on both sides of the frontier.
Many southern Thais also hold a Malaysian passport, which security forces say makes it easier for insurgents to slip back and forth across the border to escape arrest.
Militants responded to the leaders' cooperation by staging almost 50 Lunar New Year bombings, shootings and arson attacks that left nine dead in the south, where a majority are Muslims like their Malaysian neighbours.
In the biggest clash since those bombings, at least eight separatist militants were killed Friday in a gun battle with Thai troops who raided an insurgent training camp in Narathiwat near the border, security officials said.
Walking on the deserted red-stone track, which passes for a main road around Pekan Mundok, leaves a visitor with an eerie feeling, as if one is being watched.
The town has only about 500 residents but close to 50 merchants, a testament to the amount of business that used to come from Malaysia. Now they can only sit around, waiting for customers who no longer come.
Hamid Harun, 60, who sells birds and fishing gear, said life was "really difficult now". "I used to earn about 300 ringgit (US$86) daily, but now on some days, nothing at all," he said.
"Please don't let your Muslim brothers suffer," Hamid urged Malaysia, adding that trade links benefited people on both sides of the border.
Bakri, who sells rice on the Thai side, said his daily revenue of about 500 ringgit (US$143) dropped by at least 70 per cent in the past week. "Tourists from Bangkok are not coming here because of security fears in the south and now Malaysians are not crossing over. We are as good as dead now." AFP
Border ties: A worker packages Thai-produced rice sold at a hut in the Thai border town of Pekan Mundok, March 1. Business in this dusty, once-bustling Thai village has gone quiet in recent days after Malaysia tightened its border. Picture: AFP
PEKAN MUNDOK, THAILAND
Monday, March 5, 2007
THE morning crowd from Malaysia usually consisted of housewives. They jumped onto rickety wooden boats from Bukit Lata, in northeastern Kelantan state, for a two-minute ride across the filthy Golok River to Pekan Mundok town in Thailand's insurgency-hit Narathiwat province.
But the housewives have stopped coming in recent days after Malaysia tightened its border, and business in this dusty, once-bustling Thai village has gone quiet.
The merchants who sell everything from rice to wild birds and fishing equipment from dilapidated zinc-covered shops worry Malaysia's crackdown on illegal border crossings will further undermine southern Thailand's impoverished economy. And they say Thailand's proposal to extend a wall along the frontier will only worsen their plight.
Tighter security at the border came after Thailand's army-installed Prime Minister Surayud Chulanont and his counterpart from Malaysia Abdullah Ahmad Badawi agreed last month to boost their cooperation in a bid to end three years of separatist unrest in the south of the majority Buddhist kingdom.
There is no official border post at this town, and until recently residents on both sides could cross at will, albeit illegally. That has changed.
"Look, the Malaysian police (are) over there," Bakri Che Mat, 42, a Muslim Thai, said as he pointed to two Malaysian security personnel armed with M-16 rifles on the other side of the river. "They have been there for a week now and Malaysians can no longer cross," he said. "I do not know why the police are preventing Malaysians from coming here. It is safe here. No bombs here," he said.
Residents on the Thai side depended on income from their southern neighbours "for our survival", he added.
At their recent meeting, the Thai and Malaysian leaders said they would continue efforts to end dual nationality for people on both sides of the frontier.
Many southern Thais also hold a Malaysian passport, which security forces say makes it easier for insurgents to slip back and forth across the border to escape arrest.
Militants responded to the leaders' cooperation by staging almost 50 Lunar New Year bombings, shootings and arson attacks that left nine dead in the south, where a majority are Muslims like their Malaysian neighbours.
In the biggest clash since those bombings, at least eight separatist militants were killed Friday in a gun battle with Thai troops who raided an insurgent training camp in Narathiwat near the border, security officials said.
Walking on the deserted red-stone track, which passes for a main road around Pekan Mundok, leaves a visitor with an eerie feeling, as if one is being watched.
The town has only about 500 residents but close to 50 merchants, a testament to the amount of business that used to come from Malaysia. Now they can only sit around, waiting for customers who no longer come.
Hamid Harun, 60, who sells birds and fishing gear, said life was "really difficult now". "I used to earn about 300 ringgit (US$86) daily, but now on some days, nothing at all," he said.
"Please don't let your Muslim brothers suffer," Hamid urged Malaysia, adding that trade links benefited people on both sides of the border.
Bakri, who sells rice on the Thai side, said his daily revenue of about 500 ringgit (US$143) dropped by at least 70 per cent in the past week. "Tourists from Bangkok are not coming here because of security fears in the south and now Malaysians are not crossing over. We are as good as dead now." AFP
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