Trade turnover between Russia and Brunei in 2015 can be considerably increased


On November 17, 2015 the Minister of Economic Development of the Russian Federation Alexey Ulyukaev during visit to Manila (Philippines) for participation in consultations of Ministers of Foreign Affairs and Ministers of Trade of the countries of APEC held a bilateral meeting with the Second Minister of Foreign Affairs and Trade of the State of Brunei Darussalam Lim Jock Seng.

"In January-September, 2015 trade turnover volume between Russia and Brunei in comparison with the similar period of 2014 repeatedly grew", – Alexey Ulyukaev noticed. However, thus heads of economic departments of two countries consider that volumes of trade do not correspond to the available capacity of the parties. In their opinion, it is connected, including, with absence of concrete knowledge of opportunities and needs of each other.

Speaking about investment cooperation between Russia and Brunei, the head of the Russian Ministry of Economic Development noted that the vast experience of this country in implementation of investment projects and financial opportunities available can be applied in oil and gas, power and agricultural branches of Russia. According to him, Russian companies could take part in construction in Brunei of objects and creation of the productions focused on the local market and export to the third countries.

However, in August of this year within the Russian-Bruneian business forum to Brunei-Darussalam business mission of 30 Russian businessmen from 20 companies of various branch orientations already "landed".

Alexey Ulyukaev noticed that prospects of development of world and regional economy (APR, Europe, Russia etc.) in the conditions of challenges of geopolitical character is planned to discuss at the forthcoming Saint-Petersburg International Economic Forum.

Therefore the Minister of Economic Development of the Russian Federation invited Lim Jock Seng to participate in the Saint-Petersburg International Economic Forum which will take place in June, 2016.