A step closer towards establishing Russia-Brunei Business Council

National 1 minute, 33 seconds


THE Russian Ambassador to Brunei said a lot more can be done to strengthen relations between the two countries outside of the definite mutual interest in deepening economic cooperation.

“We have to find niches where (we can effectively complement one another),” Vladlen Semivolos told The Brunei Times in an email interview yesterday.

During the visit of the first Russian Business Mission last August, the ambassador said representatives of both Russian and Brunei business circles signed a letter of intent to establish the Russia-Brunei Business Council.

This would particularly look into ways of encouraging trade and investments, promote useful business contacts, assist businesses in exploring possibilities of counter-trade, joint ventures and the exchange of information.

The ambassador said currently, work on the relevant memorandum of understanding is already under way, with hopes of finalising it by May 2016.

Semivolos said this is so the document could be signed on the sidelines of the upcoming Russia-ASEAN Summit in Sochi next month.

At the Russia-ASEAN Commemorative Summit held on May 19 to 20, Semivolos said His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to take part in the event marking the 20th anniversary of the Russia-ASEAN dialogue partnership.

He went on to say that within the framework of the Summit, Russia will also host the Russia-ASEAN Business Forum, which will bring together business elites from ASEAN countries and leading Russian companies.

This forum will act as a platform for establishing useful ties in the fields of trade, economy, investment and technology, he said.

“We look forward to welcoming a representative Brunei delegation in this event,” the ambassador added.

Semivolos said the next important step to be taken is to arrange a visit of a Brunei business delegation to Russia, which the embassy is currently planning to organise next September.

The Brunei Times