Malaysia, Brunei Commit to Boosting Economic Partnership

(MENAFN) Malaysia and Brunei have committed to intensifying their economic partnership, focusing on key sectors such as energy, agriculture, and tourism, following the 26th Malaysia-Brunei Annual Leaders' Consultation (ALC) held Wednesday.

Malaysian Prime Minister Anwar Ibrahim and Brunei’s Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah emphasized the crucial role of expanding cooperation between Brunei and Malaysia’s northern Borneo states—Sabah and Sarawak—to drive shared prosperity and enhance regional integration.

The leaders highlighted the Pan Borneo Highway as a strategic infrastructure project that, once completed, will significantly boost regional connectivity, opening new avenues for tourism and broader economic collaboration. Their joint statement said, "Both leaders plan to leverage Borneo's shared resources and geographic advantages to strengthen food and energy security, build resilient supply chains and create sustainable opportunities for the people."

Energy cooperation also remains a priority. The leaders expressed satisfaction with ongoing partnerships between Petroliam Nasional Bhd and the Petroleum Authority of Brunei Darussalam through the Commercial Arrangement Areas (CAA). "In this regard, the leaders expressed satisfaction in the close collaboration between Petroliam Nasional Bhd and the Petroleum Authority of Brunei Darussalam, through the Commercial Arrangement Areas (CAA) and encouraged both sides to advance joint projects and realize their full potential within a mutually agreed timeline," the statement added.

Furthermore, Sarawak’s expanding role in regional energy initiatives was recognized as a vital element in boosting energy security across the region. "This collaboration will contribute to enhancing food security, improving supply chain resilience and expanding market access," the statement concluded.

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