BRUNEI GAINS IMPORTANCE AS ASEAN PARTNER FOR WASHINGTON-BASED BUSINESS COUNCIL

By Manik Mehta

NEW YORK, Aug 3 (Bernama) -- A United States organisation charged with promoting
trade and business ties with the Asean region, is eyeing the tiny state of
Brunei, bordering Malaysia's Sarawak state, as an important economic partner.

A first-ever business mission organised under the auspices of the
Washington-based US-Asean Business Council (USABC), which has completed 25 years
since its establishment and now has over 100 member companies, paid a visit Monday
to Brunei which is generally known here for its huge gas and oil reserves.

The USABC’s programme during the delegation’s visit to Brunei envisages meetings
with officials of the Brunei government, aimed at exploring potential avenues of
cooperation. The mission will try to identify areas of mutual business interest.

Members of the USABC delegation include executives of two American energy
companies, ConocoPhillips and Chevron Corporation.

The mission is jointly led by USABC Vice President Marc Mealy, who is also
responsible for promoting business ties with Malaysia, and Bill Lafferandre of
ConocoPhillips, who chairs the USABC’s Brunei Committee.

Mealy, who is familiar with the Asean region, particularly Brunei and Malaysia,
said the Brunei visit reflected the USABC’s "strong desire" to explore
opportunities to strengthen bilateral economic ties between the US and Brunei.

"The visit is a way for us to continue to build on Second Minister for Foreign
Affairs and Trade Pehin Lim Jock Seng’s highly successful visit to the US in May
where he met executives from American companies, including several members of
the USABC in Seattle, Washington state, and Washington DC," he said.

According to the USABC, the delegation held a packed schedule of meetings on
Monday, including talks with Brunei Minister of Energy Pehin Yasmin, Permanent
Secretary Lim Jock Hoi of the Ministry of Foreign Affairs and Trade, Brunei
Petroleum Acting Chief Executive Officer Azren Taib and Brunei Economic
Development Board Chief Executive Officer Vincent Cheong.

The delegation also exchanged views with Llewellyn Hedgbeth, the charge
d’affaires at the US Embassy in Brunei.

A USABC representative told Bernama that there was “good potential” to develop
trade and business ties with Brunei which maintains a modest trade volume with
the US, with two-way trade amounting to a mere US$140 million in 2009.

Indeed, the US corporate sector is also eyeing infrastructure projects in
Brunei, besides intensifying cooperation in the energy sector.

Brunei, which plays a pivotal role in the Trans Pacific Partnership (TPP), a
trade agreement that could potentially serve in building the edifice on which a
Free Trade Area of the Asia Pacific region could rest, is of special interest
for the USABC member companies.

Commenting on the conclusion of the Brunei visit, Mealy hoped that the visit
would be a "part of a larger process of raising awareness" in the US about trade
and investment opportunities with Brunei.

"Brunei’s participation in the TPP negotiations, of which it is a founding
member and serving as the host government of the third round of TPP negotiations
in October, is an important contributing factor to an increase in Brunei's
profile among members of the American business community," he said, adding that
Brunei was a "strong partner" for businesses looking to support the Free Trade
Area of the Asia-Pacific region.
-- BERNAMA




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