India, Brunei Darussalam agree to expand bilateral trade

New Delhi, October 14 (IANS): India and Brunei Darussalam on Wednesday agreed to expand bilateral trade, including the exports of agricultural goods and pharmaceutical products from India.  The third meeting of the India–Brunei Darussalam Joint Trade Committee (JTC) was convened to review bilateral trade and economic cooperation and identify avenues for strengthening commercial ties between the two countries. The meeting was co-chaired by Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Amit Verma, and Brunei Darussalam's Permanent Secretary, Economy & Trade, Ministry of Economy, Trade and Industry, May Fa'ezah Ahmad Ariffin.Representatives from relevant Ministries, Departments and organisations of both countries participated in the deliberations, according to a statement issued by the Commerce Ministry after the meeting.The discussions focused on expanding bilateral trade, addressing market access priorities and identifying institutional mechanisms to facilitate business-to-business exchanges. Both sides also deliberated on facilitating exports of agricultural and animal products from India to Brunei Darussalam, with a view to supporting food security and diversifying trade, the statement said.Pharmaceuticals, healthcare, and energy were identified as key areas for further cooperation. Both sides explored opportunities for regulatory collaboration, procurement and healthcare services, recognising the potential for greater engagement in the pharmaceutical and healthcare sectors. Discussions on energy covered traditional and emerging energy partnerships to support sustained industrial growth.The two sides also emphasised the importance of strengthening people-to-people ties and commercial outreach through cooperation in tourism and participation in trade fairs and exhibitions. They noted that targeted trade promotion events and reciprocal business delegations could help identify investment opportunities in manufacturing, infrastructure and services.The two countries reaffirmed their commitment to maintaining regular communication between relevant nodal agencies and working groups to monitor follow-up actions and advance the trade and investment objectives discussed during the meeting.The next meeting of the India–Brunei Darussalam Joint Trade Committee will be held in Brunei Darussalam, the statement added.