BEGAWAN, BANDAR SERI – According to the Malaysian High Commissioner to Brunei, Brunei’s trade volume with Malaysia reached RM$5 billion ($1.56 billion) in the first half of 2022.
Dato’ Raja Reza Raja Zaib Shah stated at a reception to commemorate Malaysia’s 65th Independence Day, “Looking at this positive trend, it is not unthinkable that the two nations’ trade value would reach RM10 billion ($3.1 billion) by the end of this year.”
“If this is the case, we will see a double-digit record of bilateral trade between Malaysia and Brunei for the first time in history,” he said.
Malaysia and Brunei had a trade volume of RM8.03 billion ($2.49 billion) in 2021, a 70% increase over 2020.
Prior to the pandemic, Malaysia was one of the top travel destinations for Bruneians, with Bruneians contributing $1.16 billion in tourism receipts in 2019.
“This can not only help recover the national economy, but it can also encourage social activities because people from both nations, particularly those with families, can now see each other and go back and forth like previously,” stated the high commissioner.