MALAYSIA, BRUNEI RENEW COMMITMENT TO COOPERATION

From Caroline Jackson

BANDAR SERI BEGAWAN, Aug 5 (Bernama) -- Malaysia and Brunei Wednesday
renewed their commitment to further strengthen close bilateral relations and
cooperation, including in trade and investment.

Following a four-eyed meeting between Malaysian Prime Minister Najib
Razak and Sultan Hassanal Bolkiah of Brunei at the 13th annual consultation
here, Malaysia applauded Brunei's proposal to establish joint committees to
facilitate and create a conducive environment towards promoting cooperation.

"Both leaders expressed pleasure in Brunei's interest to participate in the
economic corridors in Malaysia and recognised the potential for increased
cooperation between both countries, especially in East Malaysia states of Sabah
and Sarawak, in such areas as agriculture, halal products and palm oil
production," said a joint statement issued to Malaysian journalists at the
conclusion of the closed-door annual meeting at the Istana (Palace) Nurul Iman,
here.

The annual consultation also saw the signing of an Avoidance of Double
Taxation Agreement (DTA) to facilitate greater bilateral economic collaboration,
including in energy-related activities.

Under the treaty, the maximum rates of withholding tax are 10 per cent
respectively on dividends, individual or company, royalties and fees for
technical services.

The two leaders also underscored the significance of continuing cooperation
in the transportation sector to further promote trade and investment linkages as
well as tourism between both countries, including in the Brunei, Indonesia,
Malaysia, Philippines-East Asean Growth Area (BIMP-EAGA).

In expressing satisfaction with current efforts to promote tourism,
particularly between Brunei and Sabah as well as Brunei and Sarawak, they
welcomed the recent code-share agreement between Royal Brunei Airlines (RBA) and
Malaysia Airlines, which underlies their commitment towards tourism development
between the peoples of the two countries.

The joint statement also said that Najib and the sultan reiterated the
significance of the Exchange of Letters, signed on March 16 last year, over
overlapping maritime and land border issues, which marked a historic occasion
for Brunei and Malaysia.

"Both leaders reaffirmed their commitment to work together towards the
expeditious implementation of elements agreed in the document," it said, adding
that the signing served as a testament to the strong ties between the two
countries in elevating existing friendship and cooperation to a strategic
partnership.

The meeting, which discussed a broad range of regional and international
issues of mutual concern, reaffirmed the need to work closely in dressing the
current global economic crisis and pandemic diseases, including the Influenza
A(H1N1).

In commending the close partnership between the two countries in promoting
peace, security and prosperity in the regional and international arena, the
leaders expressed their satisfaction on the outcome of the consultation and
believed that such a mechanism strengthened bilateral relations and cooperation.

The next annual consultation, the 14th, is scheduled to take place in
Malaysia next year.
-- BERNAMA