Malaysia and Brunei’s Halal Industries To Explore Collaborative Avenues

The development of the halal industry, especially in the food sector, is one of the new areas of cooperation that can be explored between Malaysia and Brunei in the post-pandemic era.

Foreign Minister Datuk Seri Dr. Zambry Abdul Kadir said Malaysia and Brunei’s joint investment efforts in the development of the halal industry, especially in the production of halal food, will open a new chapter in terms of quality and certification of the halal industry, which can have a mutually beneficial impact.

“(The standards set by) Malaysia and Brunei are among those that are renowned in terms of food quality and halal food certification, and (going forward) both of us can explore the halal industry even further,” he told reporters here today.

He added that during Prime Minister Datuk Seri Anwar Ibrahim’s two-day official visit to Brunei, which began today, the Malaysian Investment Development Authority and the Brunei Investment Agency would sign a Memorandum of Understanding (MoU) covering several key economic areas apart from the halal food industry.

These areas include the digital economy, oil, and gas, artificial intelligence, smart agriculture, and tourism.

“This is a significant joint agreement in terms of business relations through the agencies involved.

“The Ministry of International Trade and Industry and other investment agencies will have plans to ensure that both parties can continuously cooperate and explore new business aspects that will drive economic growth,” he said.

Meanwhile, Zambry said there are various potentials for both nations to enhance trade relations as import and export activities are improving and showing better growth.

He added that during a meeting between the Sultan of Brunei, Sultan Hassanal Bolkiah, and the Prime Minister on 28 November 2022, the parties discussed several issues, including ways to enhance trade relations.

He noted that there had been significant changes in the supply chain in the post-pandemic era, which had been exacerbated by the Russia-Ukraine war.

“The idea of globalization has also been challenged as demand has not been met. However, regional cooperation offers new potential, and in this case, ASEAN can play an important role in ensuring that supply is not affected.

“The movement of goods and services is easier within the ASEAN region, so there is no need to rely on sources that are too far away.

“Working together at the ASEAN level will give us advantages, so I believe Malaysia and Brunei will see that regional cooperation will add value and help bridge economic gaps,” said Zambry.

He added that after the reopening of economic sectors following the pandemic, Malaysia-Brunei trade relations had recorded a positive performance with a trading volume of more than RM10 billion, building confidence to explore cooperation in many new areas.

Last year, Brunei was Malaysia’s 26th largest trading partner and sixth largest in ASEAN, with total trade of RM13.22 billion.

From January to December, Malaysia’s exports to Brunei increased by 33.3 percent year-on-year to RM7.4 billion, while imports from Brunei stood at RM5.82 billion, an increase of 154.8 percent year-on-year.