In recent years, the economic relationship between Brunei Darussalam and Indonesia has seen remarkable expansion, with trade volumes soaring from USD 133.7 million in 2018 to an impressive USD 897.3 million by 2022. This significant growth underscores the deepening economic ties between the two countries. The recent remarks by Dr. Achmad Ubaedillah, the Indonesian Ambassador to Brunei Darussalam, during the Indonesia Halal Expo 2024, further spotlight this upward trend. Held at the International Convention Centre in Berakas, the expo serves as a testament to the flourishing trade and collaborative opportunities enhancing the bilateral relations between these neighboring nations.
Promoting the Halal Industry
The Halal Expo ICC aims to attract Brunei investors to Indonesia’s burgeoning halal industry, valued at approximately BND 400 billion. Indonesia ranks third on the Global Islamic Economy Indicator and second in the food sector. Dr. Ubaedillah expressed his optimism that the expo would spark greater interest among Brunei investors, further enhancing bilateral trade and investment.
Diverse Exhibits from Indonesia
The Indonesian Embassy has brought 20 exhibitors from Indonesia to showcase various products. These include food and beverages, pharmaceuticals, cosmetics, modest fashion, and travel packages to Muslim-friendly destinations in Indonesia. This diverse showcase aims to highlight the extensive opportunities within Indonesia’s halal industry.
Inaugural Ceremony Highlights
The opening ceremony was marked by the traditional sounding of the gong by Dr. Ubaedillah, in the presence of prominent figures such as Permanent Secretary (Sports) at the Ministry of Culture, Youth and Sports, Pengiran Mohd Amirrizal bin Pengiran Haji Mahmud. The event also featured a performance by an angklung ensemble, comprising members of the Indonesian community in Brunei.
Strategic Economic Collaborations
Indonesia is actively seeking to bolster economic collaborations with Brunei, particularly in light of the development of its new capital city, Nusantara, in East Kalimantan, Borneo. This project, expected to be ready by August 2024, aims to create a green and smart city that promotes ecotourism and sustainable development. Brunei’s proximity to Nusantara positions it as a strategic partner in this ambitious endeavor.
Dr. Sujatmiko, outgoing Indonesian Ambassador to Brunei, highlighted that investments from various countries, including China, Japan, South Korea, and Singapore, have already been pledged. He encouraged Brunei businesses to seize opportunities in Nusantara, which promises economic benefits for the entire island of Borneo (Brunei BEBC).
Future Prospects
The Halal Expo ICC is not only a platform for showcasing products but also catalyzes fostering stronger economic ties between Brunei and Indonesia. With the rising trade volume and ongoing projects like Nusantara, the future looks promising for bilateral collaborations. Direct flights between Brunei and Kalimantan could further enhance business interactions, reducing the need for transits and facilitating smoother trade and investment flows.
The Indonesia Halal Expo 2024 at the ICC is a testament to the growing economic partnership between Brunei and Indonesia. By focusing on the halal industry and leveraging strategic projects like Nusantara, both nations are poised to achieve greater economic integration and mutual growth. This expo not only showcases Indonesia’s diverse halal products but also underscores the vast potential for future investments and collaborations.
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