BD eyes greater energy sector cooperation with Brunei

Both sides want deeper relation to promote peace, stability

April 24, 2019 00:00:00

Prime Minister Sheikh Hasina visiting Royal Regalia Museum in Brunei on Tuesday — PID

BANDAR SERI BEGAWAN, Apr 23 (UNB): Bangladesh and Brunei agreed to explore the possibility of comprehensive collaboration in the energy sector amid the growing demand for energy in Bangladesh to support the rapid economic growth.

Prime Minister Sheikh Hasina and Brunei's Sultan Haji Hassanal Bolkiah also agreed to encourage the relevant agencies from both sides to continue discussions to identify specific areas and modalities of cooperation in this sector, according to a joint statement issued on Tuesday.

The 20-point joint statement was issued as the Prime Minister wrapped her three-day visit to Brunei exploring ways to strengthen their cooperation to elevate the relationship to a newer height.

The two countries are looking for comprehensive collaboration in the energy sector via a Government-to-Government (G2G) arrangement, including liquefied natural gas (LNG) supply to Bangladesh as well as the participation of both public and private sectors; covering areas such as investments and trade in petro-chemicals, offshore oil and gas exploration, technical collaboration, and capacity building.

The two countries agreed to further deepen cooperation in the regional and international forum, including the United Nations, the Organisation of Islamic Cooperation (OIC), the Commonwealth and the Asean Regional Forum on issues of common interests and concerns, including extremism, terrorism, environmental protection, and sustainable development.

Both sides agreed to work together to promote a rules-based framework, peace, stability, and prosperity of the region and the world.

The two leaders recognised the potential for investments and will encourage the promotion of reciprocal investments particularly in sectors such as food processing, energy, ICT, shipbuilding, manufacturing, tourism infrastructure, blue economy and the jute industry.

Brunei Darussalam acknowledged Bangladesh's humanitarian assistance and repatriation initiatives for 1.1 million people displaced from the Rakhine State, temporarily sheltered in Bangladesh.

The two leaders will actively consider the possibility of a preferential trade arrangement and conduct a joint feasibility study to this effect.

Brunei Darussalam expressed interest to explore participation in the global halal food market by taking advantage of the special economic zones of Bangladesh and the proven expertise of Brunei in halal food industry.