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Brunei, Japan Economic Ties Reach New Heights

Bandar Seri Begawan - Brunei Darussalam and Japan have agreed to launch consultations early next year with a view to starting negotiations for a bilateral Economic Partnership Agreement (EPA).

The decision was reached in a bilateral meeting Monday evening between His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and Japanese Prime Minister Junichiro Koizumi.

The meeting was held at the KLCC on the sidelines of the 11th Asean Summit in the Malaysian capital.

His Majesty and Koizumi exchanged views on strengthening Brunei-Japan economic relations.

Both His Majesty and the Japanese premier expressed satisfaction with the excellent relations that exist between Brunei Darussalam and Japan.

Present at the meeting was His Royal Highness Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade.

Also present were the Minister of Energy, Pehin Dato Awg Haji Yahya; Minister of Foreign Affairs and Trade II, Pehin Dato Lim

Jock Seng; Brunei's High Commissioner to Malaysia, Dato Dr Hj - Mohammad Amin; and Permanent Secretary at the Ministry of Foreign Affairs and Trade, Pg Dato Osman.

Yesterday, His Majesty attended the 9th Asean-Japan Summit. At the meeting, His Majesty expressed satisfaction at the continued progress of close economic and security cooperation between Asean and Japan over the last 30 years, which now covered a number of areas.

His Majesty further stated that Japan continued to be one of Asean's most significant trading partners and played an important role in contributing towards Asean's economic development.

As for the future, His Majesty expressed the hope that the Asean-Japan Plan of Action to be successfully implemented as it would generate better opportunities and bring about greater prosperity to the people.

On bilateral relations, His Majesty stated once again his agreement to launch a study for an EPA between Brunei and Japan.

At the end of the summit, a joint statement of the 9`h Asean-Japan Summit - Deepening and Broadening of Asean-Japan Strategic Partnership was issued containing some basic commitment and understanding of both sides.

His Majesty then attended the 9th Asean-Republic of Korea Summit.

In his titah, His Majesty appreciated President Roh Moo-hyun's personal efforts in trying to resolve the pro' lems in the Korean Peninsula.

On the dialogue relations between Asean and South Korea, His Majesty expressed his satisfaction at its overall progress and said the signing of the Framework Agreement later would set a clearer, path towards strengthening economic cooperation.

His Majesty further stated that the eventual establishment of the Free Trade Area would be an important mechanism to overall regional peace and prosperity.

After the meeting, His Majesty joined other leaders to sign the Framework Agreement on the Asean-Republic of - Korea Economic Cooperation.

As for the future, His Majesty looked forward to broadening cooperation in the areas such as disaster management, small and medium enterprises, information and communication technology, human resource development, youth and media exchanges.

His Majesty believes that cooperation between - Asean and South Korea, which are broad, would send not only a positive message to potential investors but also would demonstrate to the people of both sides that Asean and South Korea are able to work very well together. -- Courtesy of Borneo Bulletin

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