Brunei and Russia Forged Alliance in Various Trade and Investment Endeavors (BruDirect (Brunei))

Establishing a ground-breaking alliance, Brunei Darussalam and the Russian Federation signed deals covering various fields of trade and investment yesterday.

A letter highlighting the intent to form a Brunei-Russia Business Council was inked first. It was signed by Fauziah binti Dato Seri Paduka Haji Talib, member of Asean Business Advisory Council, and Victor Tarusin, Executive Director of Russian-Asean Business Council.

The purpose of establishing the Brunei-Russian Business Council is to stimulate trade and investments as well as to strengthen mutual co-operation among Russia and Brunei business communities and regularly exchange information on current market trends and business opportunities.

According to Victor Tarusin, the new council would define four main areas of the development of the Russian-Asean Business Council – economic and investment, technological, social-cultural and political.

Meanwhile, BAG Networks, the leader in Brunei’s ICT, signed a Memorandum of Understanding (MoU) with the Association of Electronic Trading Platforms (AETP) of Russia. Representing BAG Networks was its Chief Executive Officer Haslina bin Haji Mohd Taib, while for AETP, Executive Director Iliia Dimitrov signed.

Haslina hoped that the MoU will be the beginning of a “fruitful collaboration” between two organisations coming from halfway across the globe but “sharing similar aims in creating a successful ICT industry for our nations.

“This is very exciting for us as we look forward to learn from each other to develop a more technology-enabled business community here in Brunei,” she added.

Meanwhile, lliia Dimitrov commented that the AETP, as Russia’s largest union of federal, regional and municipal electronic trading platforms, hopes to forge international links for protection of information and technology. He also hoped that the MoU will encourage innovation and the e-commerce market of Russian partners abroad.

Two more signings were held yesterday between Far Eastern Transport Group (DVTG), one of the major transportation and logistics companies in Russia, and two local companies – LVK Group of Companies Brunei and Golden Corporation Sdn Bhd.

These MoUs will enable all parties to exchange knowledge, networks and experience in the field of logistics and aquaculture transportation system that will help tap into the Asean market and act as a bridge for Russia to connect to the Latin American market.

Natalia Korshunova, Deputy General Director for Investment of DVTG, said she is very excited over this collaboration between the two local companies as it is a unique and interesting market that will generate fresh ideas in entrepreneurship.

Representing LVK Group of Companies was its Director Hafimi binti Abdul Haadi @ Frances while Golden Corporation Sdn Bhd was represented by Albert Hwong.

Dato Paduka Lim Jock Hoi, Permanent Secretary at the Ministry of Foreign Affairs and Trade, was present to witness the signings held at Tarindak D’Seni, Bandar Seri Begawan.

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