2. Southeast Asian country consisting of two
unconnected parts
Total area of 5,765 square kilometres
Neighbours: Malaysia, South China Sea
Capital Bandar Seri Begawan
Climate: Tropical Equatorial ; Hot, Humid,
Rainy (Average annual temperature is 26.1 °C)
GEOGRAPHY
3. Natural Resources : Petroleum,
Natural Gas, Timber
Natural Hazards: Typhoons and
Earthquakes
Close to vital sea lanes through
South China Sea linking Indian and
Pacific Oceans; two parts physically
separated by Malaysia; almost an
enclave within Malaysia
6. History
The Sultanate of Brunei ruled during the fourteenth to
the sixteenth century CE.
Its territory allegedly covered the northern part
of Borneo and the southern Philippines.
European influence gradually brought an end to
this regional power. Later, there was a brief war
with Spain, in which Brunei was victorious.
The decline of the Bruneian Empire culminated in the
nineteenth century when Brunei lost much of its territory
to the White Rajahs of Sarawak, resulting in its current
small landmass and separation into two parts.
Brunei was a British protectorate from 1888 to 1984.
7. Gained independence on 1st January, 1984 from UK
Govt. Type: Constitutional Sultanate (Malay Islamic Monarchy)
Legal System is a mix of English Common Law and Islamic Law
Chief of state: Sultan and Prime Minister Sir HASSANAL Bolkiah (since 5 October 1967)
Monarch is both the chief of state and head of government
Council of Cabinet Ministers appointed and presided over by the monarch
No Elections: The Monarch is hereditary
Government
8. Mixture of foreign and domestic entrepreneurship,
government regulation, welfare measures, and village
tradition
Crude oil and Natural Gas production account for about 90%
of its GDP
Fourth largest producer of oil in South-east Asia
Depends heavily on imports of products like Agriculture,
Motorcars and Electrical Products
Imports 60% of its food requirements, which around 75% of
those food imports come from the ASEAN countries
Economy
9. Brunei's leaders are very concerned that steadily
increased integration in the world economy will
undermine internal social cohesion.
But, it has become a more prominent player by serving
as chairman for the 2000 Asia-Pacific Economic
Cooperation (APEC) forum.
Leaders plan to upgrade the labour force, reduce
unemployment, which currently stands at 6%; strengthen
the banking and tourism sectors, and, in general, broaden
the economic base.
10.
11. GDP PPP (2011) - $21.24 Billion
GDP Real Growth Rate (2011) –
1.9% ; 2.6% in 2010
GDP Per Capita (2011) - $50000
Unemployment Rate (2010) – 2.7%
Inflation Rate at CPI (2011) – 2%
21. Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve maternal health
Combat HIV/AIDS, malaria and other disease
Ensure environmental sustainability
Develop a global partnership for development
MDG - Brunei
22. •Based on Brunei Darussalam’s Household Expenditure Survey 2005, absolute
deprivation is inexistent
•Universal Primary Education
Current Status
28. Brunei Darussalam views Free Trade Agreements (FTAs) as a vital
part of its foreign trade policy to maximise the potentials of free
and open trade for its people in an ever-globalising world.
With a relatively free and open trading regime, as well as a small
but highly educated workforce, Brunei Darussalam sees
engagement on FTAs as an important step in ensuring that its
people, goods, services and investments have continued access to
wider markets around the world.
Bilaterally, Brunei Darussalam has concluded an Economic
Partnership Agreement with Japan (the Brunei-Japan Economic
Partnership Agreement or “BJEPA”) and a plurilateral agreement
with Chile, New Zealand and Singapore (the Trans Pacific
Strategic Economic Partnership or more commonly referred to as
the “P4”)
29. The BJEPA is Brunei Darussalam’s first bilateral free trade
agreement.
The Agreement was signed by the leaders of both Brunei
Darussalam and Japan on 18 June 2007, and entered into force on 31
July 2008.
The Agreement is hoped to enhance Brunei Darussalam’s investment
climate and encourage foreign direct investments (FDI) through
greater predictability and transparency.
Market access between Brunei Darussalam and Japan will also be
improved in terms of goods (through the reduction of import duties)
and services.
Marking the long-standing relationship between both countries, the
Agreement also has chapters on Energy, Improvement of Business
Environment and Cooperation which will help further strengthen
bilateral ties to a higher level of partnership.
30. Brunei signed the P4 on 2 August 2005 and deposited its Instrument of
Provisional Application to New Zealand as the depository of the Agreement on 12
June 2006.
The Agreement came into force for Brunei Darussalam on 12 July 2006, and will
bring about strategic benefits for all four partners, Brunei Darussalam, Chile, New
Zealand and Singapore, and in effect build a bridge between Latin America, the
Pacific and Asia.
It will encourage Brunei, Chile, Singapore and New Zealand to pool their
expertise, ideas, technology and resources to improve their competitiveness on the
global market.
The Agreement will also help advance shared objectives in APEC and the WTO.
32. Economy -
overview
•Brunei has a small well-to-do economy that depends on revenue from
natural resource extraction but encompasses a mixture of foreign and
domestic entrepreneurship, government regulation, welfare measures,
and villagetradition.
•Crude oil and natural gas production account for just over half of GDP
and more than90% of exports.
•Per capita GDP is among the highest in Asia, and substantial income
from overseas investment supplements income from domestic
production.
•The government provides for all medical services and free education
throughthe universitylevel and subsidizes rice and housing.
•A new monetary authority was established in January 2011 with
responsibilities that include monetary policy, monitoring of financial
institutions, and currency tradingactivities.
48. Stock of
quasi money
•$8.151 billion (30
March 2009)
•$4.551 billion (31
December 2008)
Stock of
domestic
credit
•$4.032 billion (31
December 2011 est.)
•$3.019 billion (31
December 2010 est.)
49. Agriculture - products •rice, vegetables, fruits;
chickens, water buffalo,
cattle, goats, eggs
Industries •petroleum, petroleum
refining, liquefied natural
gas, construction
Industrial production
growth rate
•-5.4% (2008 est.)
