Russia Actively Seeking to Boost Trade and Economic Ties with Sultanate (BruDirect (Brunei))

The first Russian business mission to Brunei comprising representatives of major Russian corporations is expected to give impetus to the development of bilateral trade and economic cooperation between the two countries.

The Russian delegation will be in Brunei from August 26-28 to explore the possibilities of establishing partnerships and investing in Brunei, Ambassador of the Russian Federation to Brunei Darussalam, H. E. Vladlen Semivolos said.

Brunei Darussalam and the Russian Federation share strong political relations, however, the two countries have yet to discover the true potential of their alliance in the field of business.

Highlighting the key goals of the mission, he said, “Russia attaches special importance to deepening and broadening relations with Brunei. We are determined to develop comprehensive links at all levels and in various fields. Strong political ties provide a solid foundation for our relations. With a view to increase mutual understanding and people-to-people contacts we are undertaking steps aimed to enhance our interaction in such spheres as education, culture and healthcare.”

Promotion of trade and economic ties is Russia’s major focus today, the envoy said. “In order to foster cooperation in this (economic) field, the Russian side, together with the Russia-Asean Business Council and with the valuable help from the Ministry of Foreign Affairs and Trade of Brunei Darussalam as well as the Brunei Economic Development Board, is actively engaged in the preparation of the visit of the first Russian business mission to the Sultanate.”

The major agenda of the mission includes holding a Russia-Brunei Business Forum and meetings at the ministries and also with the CEOs of the key Bruneian companies. The Russian delegation will be represented by about 20 renowned Russian enterprises that are ready to discuss practical projects of cooperation, the ambassador added.

Russian oil and gas majors such as Lukoil, LLC MG3, LLC NIPT and Transoilservice, he revealed “are seeking partnerships with their Bruneian counterparts in the oil and gas sector such as exploration and production, services, off-shore pipeline construction, oil sludge recovery and utilisation.”

Some major Russian construction companies like Morton Group and Leader Group are also looking for investment opportunities and potential partners in the field of construction and infrastructure, water-cleaning and developing municipal transportation system in Brunei.

Ankort -a leading Russian supplier of mobile phone and Internet security devices is looking forward to discuss cooperation opportunities in the telecommunications sector. Also, Avivak, a leading Russian vaccine producer for poultry farming is interested in establishing relations with Bruneian counterparts, he added.

Touching on Brunei Halal products, the envoy said, “We anticipate good results in developing cooperation in the field of Halal production. As you know, Russia has a Muslim community of 17 to 18 million people and hence a large-scale Halal food sector. A major Russian Halal food producing company is also part of the mission and is ready to discuss cooperation opportunities with Bruneian counterparts.

“We are convinced that the forthcoming visit will become a very important step towards establishing direct links between Russian and Bruneian business circles. This experience will enable them to develop their relations further in forming long-term reliable partnerships. We on our part will welcome a reciprocal visit of a Brunei business delegation to Russia,” the ambassador concluded.

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