Canada To Expand Trade With Brunei

Ottawa - Canada is keen to expand its economic ties with Asean, an association of the vibrant economies, which is an important trading partner for Canada with annual two-way trade worth C$10 billion.

Asean is also the destination of choice for more Canadian Foreign Direct Investment (FDI) than any other part of Asia with over $11 billion.

Ken Sunquist, Assistant Deputy Minister International Business and Chief Trade Commissioner of International Trade Canada, called Asean an emerging market.

Brunei is one of key priority areas for Canada, which is eyeing each Asean member nation in mining, oil and gas.

A series of air negotiations are being held with Asean and in future plans, a science and technology exchange. The months ahead will be an exciting moment for businesses.

The Canada-Asean Business Forum will be held May 2-3, 2005 in Toronto. The Business Forum will coincide with the first Canada-Asean Senior Economic Officials' meeting, involving economic and finance officials from Asean countries.

The forum also involves two days of networking with Asean government and industry decision-makers, Canadian business` leaders and senior trade commissioners from the region, with up to 400 participants.

Analysis of Asean trade and investment trends includes impact of economic integration in Asia involving China, Japan and other countries.

Sector workshops and roundtables highlighting opportunities in Asean, designed to educate companies at all stages of international business development will also be held along with targeted sessions on best practices, with case studies by successful Canadian and Asean companies.

In addition, Brunei will take part in the Trade Fair, dubbed `Gateway 2005 'to be held from April 27-30 2005 in Vancouver.

Notable speakers are invited to attend the four-day activities along with high-ranking government officials and business leaders from the 10 Asean countries.

Meanwhile, prominent businessmen who migrated to Vancouver, Canada since 1970s and now have become successful entrepreneurs, called for Brunei authorities to link up with the Consulate General and Tourism Office in Vancouver in the wake of vast business opportunities for the two countries to tap.

Malaysia, Singapore and the Philippines set up their Consulate General in Vancouver.

Through the Malaysia, Singapore, Brunei Cultural Association (MSBCA) based in Vancouver, the sultanate is promoted to the Canadians.

Immigrants from Seria in Belait now work in Vancouver as realtors, financial adviser, engineers and even becoming Director, Policy and Legislative Affairs Minister's Office at the Ministry of Health and Long Term Care in Toronto and Senior Vice President of Realty.

During a recent media tour, calls were made to Brunei companies to explore more business with their Canadian counterparts like the rest of their counterparts from Asean.

Manitoba Trade representatives comprising of around 40 companies especially in manufacturing travel four to six times a year to South East Asia especially Singapore and Malaysia

Brunei's military bought explosive blast and chemical/ biological agent containment and mitigation called Air Foam Dolly System worth around US$30,000 capable of rapid and effective chem/bio decontamination and kill capability from Allen-Vanguard, Canada.

Canadian Wireless Pathfinder, TR Labs, Canada's largest information and communication technology (ICT) research consortium already set-up international alliances with Singapore and Thailand.

RTDS Technologies already provides power system simulators and simulation services to the global power industry like Tenaga Nasional Berhad (TNB) Malaysia and Nanyang Technological University, Singapore.

The RTDS Simulator is a tool to study both high voltage AC and high voltage DC power systems. Specifically, it is used for testing control and protection equipment; studying power system network performance.

The Economist magazine predicts that Canada would the best country in the world in which to do business between 2004-2008.

Reasons for this include its openness to foreign trade and capital, high quality infrastructure and great -market opportunities within the North American market place. -- Courtesy of Borneo Bulletin

from: http://www.brudirect.com/DailyInfo/News/Archive/Mar05/200305/nite03.htm