| Nuri Sufri |
BRUNEI’S signing of the Trans-Pacific Partnership Agreement (TPPA) could stir interest among Swiss companies to establish operations in the Sultanate, according to Johannes Matyassy, Assistant State Secretary, Asia Pacific Division of the Ministry of Foreign Affairs, Switzerland.
Speaking to the Sunday Bulletin during his official visit to the country, Matyassy said “the TPPA is interesting for Swiss companies because it opens up an interesting market and what makes Brunei attractive is that it could open up 12 markets.”
However, the agreement is still being analysed based on the free trade agreements among member countries, he added.
In order to attract Swiss companies into the country, there are several factors to consider, according to Matyassy.
“Swiss companies are looking at a huge number of sectors. These companies are specialised and will add value to the country they invest in,” he pointed out.
Johannes Matyassy, Assistant State Secretary, Asia Pacific Division of the Ministry of Foreign Affairs, Switzerland. – AZLAN OTHMAN
“Ninety per cent of Brunei’s export is based on oil and gas. It limits the interests of Swiss companies, and the market of 400,000 also presents a problem,” he said.
“They want to establish themselves in a market where they can benefit. The legal framework is also important, which includes an agreement for protection of investment as well as other agreements,” he continued.
“Tourism has a huge potential to develop, and it will take several steps for some development. If Brunei opens up a range of markets, that will bring more foreign interest,” the Swiss official added.
His official visits to the Ministry of Foreign Affairs and Trade in Brunei and SEAMEO Voctech were to enhance bilateral dialogue in the Sultanate and offer Switzerland’s views as a Secretarial Dialogue Partner of Asean.
An action plan for 2017-2020 has been drawn up with the intention to intensify cooperation with the member countries of Asean, which led him to visit SEAMEO Voctech to explore areas of cooperation in the field of vocational and educational training, Matyassy said.
“There is a huge commercial flow between our two countries and we will identify areas where there are possibilities and communicate them with our colleagues in Geneva for taking action,” he said.
“We can contribute by informing Swiss companies about the opportunities in Brunei and facilities the country is offering,” the Swiss official added.
“Brunei presents many advantages because of its tax system, high education of labour force, its good relations with neighbouring countries as well as the positive effects of the TPPA,” said Matyassy.
For SEAMEO Voctech, “we will discuss what kind of partnership is possible from both sides. We have interest to be present in the region for providing vocational training because it is one of Switzerland’s success factors,” he added.
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