Taiwan and Brunei on Wednesday signed a memorandum of understanding (MOU) to promote a halal economy between the nations.
The document, titled the MOU on Syariah Compliance Products, Development and Trade, was signed by Pengiran Haris Duraman, chairman of the Brunei Darussalam BIMP-EAGA Business Council (BD BEBC), and witnessed by Taiwan Representative to Brunei Andrew Lee (李憲章).
The document next heads to Taipei to be signed by an official at the Taiwan External Trade Development Council (TAITRA, 外貿協會), the other signatory of the MOU.
The BIMP-EAGA refers to the Brunei, Indonesia, Malaysia, Philippines-East ASEAN Growth Area, which covers 80 million people. It was launched in 1994 in Davao City, the Philippines, to promote subregional economic cooperation.
The MOU was a result of 10 months of discussion initiated by the Taipei Economic and Cultural Office in Brunei and the BD BEBC, Lee said.
“It will serve as a catalyst and platform for connectivity and cooperation, and to explore opportunities in creating a new supply chain linking Taiwan and Brunei and the global Muslim markets,” Lee said.
The MOU aims to foster cooperation in the halal industry, reduce technical barriers to trade and facilitate bilateral relations between Taiwan and Brunei, particularly with respect to halal export development and promotional programs, Lee said.
It also focuses on investment opportunities in the halal economy and possible joint ventures in the halal value chain between Taiwan and Brunei, he added.
Brunei is well positioned to bridge the gap with Europe, the Middle East, South America and Taiwan in the halal industry, which is a global economic driver encompassing 1.9 billion Muslims, Lee said.
Taiwanese-made halal-certified foods were displayed outside the MOU-signing event as part of the representative office’s effort to showcase Taiwan’s efforts to break into the global halal food market, he said.
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