Brunei Sultan hails Asean-Australia economic alliance
BANDAR SERI BEGAWAN: Sultan Hassanal Bolkiah in a titah underscored the importance of economic cooperation to the Asean-Australia relationship, in which the Asean-Australia-New Zealand Free Trade Agreement (FTA) continues to be the most comprehensive, high-quality and modern FTA in the region which has also served as a reference in negotiating the Regional Comprehensive Economic Partnership (RCEP) to further expand trade and investment in the wider region.

He delivered the decree during a plenary session of the Asen-Australia Special Summit at Melbourne Convention Exhibition Centre. Accompanying the Sultan was Prince ‘Abdul Mateen.

The monarch also said Australia’s “South-East Asia Economic Strategy to 2040” that calls for increasing investments and building capacities of the region, with “digital economy” as a priority were very well appreciated.

He emphasised the relevance of the strategy, especially as Asean’s digital economy is expected to grow to US$1 trillion by 2030, and that Asean is working on developing a Digital Economy Framework Agreement.

Earlier, the Sultan highlighted that Asean and Australia have nurtured a close friendship based on mutual trust and respect since 1974, enabling the expansion of areas of cooperation and address many shared and common challenges.

The partnership contributed to regional peace and prosperity leading to the establishment of the Asean-Australia Comprehensive Strategic Partnership in 2021.

Touching on people-to-people initiatives including the New Colombo Plan, Australia Awards Scholarships and “Australia for Asean Initiatives”, the Sultan emphasised that the programmes are fundamental to the close Asean-Australia relations and are crucial investments to build lasting linkages and understanding between the people of Asean and Australia, ensuring the partnership remains strong in the years to come.

The monarch expressed appreciation with the scholarships provided to Brunei Darussalam as well as Australia’s announcement of additional scholarships to commence in 2025.

He also engaged in constructive discussions with other leaders during the plenary session in strengthening the Asean-Australia cooperation under the three pillars of the Asean Community.

The leaders also expressed their views and focus on several topics, amongst others, Asean Centrality, the stability and prosperity of the Asean region and Australia; the updated Asean-Australia-New Zealand FTA; Digital Economy Framework Agreement (DEFA); digital economy; green energy, energy transition and renewable energy; trade and investment; maritime connectivity and also climate change.

Australian Prime Minister Anthony Albanese, and Lao Prime Minister Sonexay Siphandone as the Chair of Asean also delivered opening remarks at the plenary session.

At the end of the plenary session, the Melbourne Declaration: A Partnership for the Future and the Asean-Australia Leaders’ Vision Statement: Partners for Peace and Prosperity were adopted.

The Sultan attended the Asean-Australia Special Summit with heads of state and government of Asean, Australia and Timor-Leste on Wednesday.

The special summit was held to celebrate 50 years since Australia became Asean’s first Dialogue Partner in 1974 and aimed to enhance Asean-Australia cooperation under the Comprehensive Strategic Partnership. - Borneo Bulletin/ANN
Brunei,Asean,Australia,sultan
BANDAR SERI BEGAWAN: Sultan Hassanal Bolkiah in a titah underscored the importance of economic cooperation to the Asean-Australia relationship, in which the Asean-Australia-New Zealand Free Trade Agreement (FTA) continues to be the most comprehensive, high-quality and modern FTA in the region which has also served as a reference in negotiating the Regional Comprehensive Economic Partnership (RCEP) to further expand trade and investment in the wider region.