Capitalise on free trade deals, entrepreneurs told

National 1 minute, 39 seconds

VIENTIANE

THE deputy ASEAN secretary-general has called on Bruneian entrepreneurs to take advantage of the wider market access from free trade agreements in the Asia-Pacific region.

Dr Lim Hong Hin said entrepreneurs should not only look at the 650 million population in Southeast Asia to market their products and services.

“They should also look at market access created through the conclusion of various free trade areas with major trading partners, such as China, Japan, Korea, Australia, New Zealand and India.

“In such free trade areas, Brunei is often given much better market access, given its level of competitiveness and vice versa with other ASEAN member states. Entrepreneurs should seize the opportunity to capitalise on the preferential market access given,” he added.

The deputy secretary-general for ASEAN Economic Community was speaking to The Brunei Times ahead of the 28th and 29th ASEAN Summits from September 6 to 8 in the Laos capital of Vientiane.

Dr Lim previously served at the Brunei Economic Development Board, where he was responsible for attracting, retaining and adding value to foreign investment to diversify Brunei’s economy.

He said Brunei will continue to look at how it can facilitate the regional integration process while advancing its national development agenda.

The deputy ASEAN secretary-general said Brunei, together with other ASEAN member states, have been working to implement all the regional commitments stipulated in the ASEAN Community Blueprint to improve the lives of people.

Following the establishment of the ASEAN Economic Community (AEC) last December, he said Southeast Asian leaders have adopted a bolder and more ambitious blueprint aimed at ensuring AEC’s relevance to the global economy.

“ASEAN is one of the world’s most vibrant regions, contributed by its strategic location, as well as the collective and comparative advantages from member states’ diverse economic structures and production capabilities.”

Dr Lim added that ASEAN leaders meet to exchange views on regional and global developments and discuss how the regional grouping could address challenges while seizing opportunities in advancing regional integration.

The Brunei Times