ASEAN Business and Investment Summit 2013 opens in Brunei

Sultan of Brunei Hassanal Bolkiah said here Tuesday that regional economic cooperation is one of the key pillars in ASEAN's agenda, which underpins ASEAN's eventual goal of establishing the ASEAN Economic Community by 2015.

ASEAN will continue to undertake new initiatives that support business, especially Small and Medium Enterprises, by addressing barriers to participation and improving business mobility, said the sultan in his keynote address at the opening ceremony of the 10th ASEAN Business and Investment Summit 2013 in the International Convention Center.

"Active regional engagement with key economies also plays an important role in ensuring ASEAN remains a vital part of the global economy," said the sultan, who is the chairman of this summit.

The sultan said ASEAN have completed free trade agreements with Australia and New Zealand, China, Japan and South Korea, was well as with India, adding that "all of which have created new opportunities to expand our trade and business linkages."

"More recently we have launched negotiations for an even wide and more ambitious trade agreement in the proposed Regional Comprehensive Economic partnership, which will bring our FTA partners into a single free trade area, and therefore ensure closer economic integration in East Asia," said the sultan.

The ASEAN Business and Investment Summit (ASEAN BIS ) is the premier and pre-eminent business and investment event in ASEAN.

Organized annually by the ASEAN Business Advisory Council ( ASEAN BAC), ASEAN BIS provides a platform for the business community to engage with ASEAN leaders and economic ministers as well as key decision makers. This annual summit aims to increase ASEAN's attractiveness as a region for trade and investment and enhances regional competitiveness.