Brunei To Tap Trillion Dollar Market in The Country, Following Duterte’s State Visit
Trillion dollar market to tap by Brunei in the Philippines after President Duterte meets Brunei Sultan Hassanal Bolkiah during his state visit.
On Monday (October 17, 2016), in a media briefing Trade Secretary Ramon Lopez said after Duterte meets Bolkiah, Brunei committed to help the Philippines to enable the country to tap trillion-dollar market.
Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) aims to restore the maximum trade relation of the country to Brunei and other countries according to Lopez.
Since Duterte was elected as Philippine president, Brunei was the first country he visited. Then the president flight to China to boost the economic ties as a part of his ASEAN tour.
The country has prevented from having the advantage of the lucrative market due to lack of organized halal certification. Brunei’s help will enable the Philippines to certify halal products.
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