Bandar Seri Begawan - Brunei Darussalam and Malaysia made a significant step forward in their bilateral relations last night when in the presence of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and Malaysian Premier, Datuk Seri Najib Tun Abdul Razak, PetroleumBRUNEI and Malaysia's Petronas signed a Deed of Amendment of the country's deepwater block's Production Sharing Agreement (PSA).
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With the inking of this new shared agreement, "both leaders expressed satisfaction with the progress in implementing the commercial arrangement in the exploration and exploitation of hydrocarbon resources with regard to Block CA1 of the Commercial Arrangement Area (CAA)" and hoped that "the PSA for Block CA2 of the CAA would be finalised soon", in which both His Majesty and his Malaysian counterpart saw "good potential for future cooperation".
According to the 22-point Joint Statement that was issued yesterday, this scope of optimism also included "the States of Sabah and Sarawak, as well as possible joint venture with a third country, in the exploration and exploitation of oil and gas, and the development of downstream industries".
Prior to the historic agreement, His Majesty and the Malaysian Prime Minister held a four-eye meeting that lasted about half an hour during which they "took note of the progress in the discussions of the implementation of other agreed elements of the Exchange of Letters" that was signed on March 16 last year.
They also reaffirmed their commitment to take bilateral relations to a "new stage of enhanced partnership and expressed their mutual desire for the continuous and expeditious implementation" of the elements agreed in the document.
Progress was also noted in the discussions that have been made by the Joint Brunei Darussalam-Malaysia Land Boundary Technical Committee, and the two leaders urged the committee "to finalise and conclude the Terms of Reference and the Memorandum of Understanding on the Joint Demarcation and Survey of the Land Boundary" by the end of the year.
Although further details were not available, the Joint Statement stated that a target date sometime during the first half of 2011 had been set for the commencement of joint demarcation and surveying activities.
Despite the "excellent state of bilateral relations", both leaders highlighted the need "to enhance economic cooperation and further facilitate and create a more conducive and sound environment in the various sectors of mutual interests with particular emphasis given to activities in Sabah and Sarawak".
Enhancing further bilateral trade and investment was another area that the two leaders pursued as they expressed their hopes that "the momentum in the increasing level of trade and investment between the two countries would continue to accelerate".
The monarch noted the participation of several Malaysian companies in projects undertaken with the Brunei Economic Development Board whilst the Malaysian Prime Minister reciprocated with Brunei's investments in the Sarawak Renewable Energy Corridor, the Sabah Development Corridor, the Iskandar Development Region and the East Coast Economic Region.
Recalling the 10th Annual Leaders' Consultation that was held in Kemaman, Terengganu in August 2006, which had focused on the "construction of bridges in especially designated areas linking the Sultanate and Sarawak", both leaders noted that these initiatives would be undertaken by the private sector and expressed their hope that the construction of the bridge over Sungai Pandaruan "could commence as soon as possible".
Furthermore, His Majesty and Datuk Seri Najib also noted the positive benefits that the SerasaMenumbok ferry services had provided, especially for locals of both countries and tourists, since its launch last December.
Discussions would also be intensified on finding and facilitating ways and measures to enhance cross border trade and the flow of goods and services, which would include transit and other charges, between the two countries. One of these measures will be the Frequent Travellers Facility that had "been agreed to", which both leaders "looked forward to its launching" that would facilitate increased people-to-people interaction and travel between the two countries. In addition, the MoU between Royal Brunei Airlines and Tourism Malaysia for Joint Marketing Programmes that was signed earlier in January this year was another vehicle that was facilitating the enhancement of bilateral tourism promotions.
Recognising the importance of continuing cooperation in all sectors, His Majesty and his Malaysian counterpart urged the relevant authorities to expeditiously conclude several arrangements, such as a Shipping Agreement, an MoU on Exemption from Tax and Permission to Work for Qualified Individuals, another MoU on Information and Communications Technology, an MoU on Youth and Sports and a Memorandum of Agreement on Higher Education.
Later yesterday evening, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam consented to attend a banquet in his honour hosted by the Malaysian Premier and his wife, Datin Sri Rosmah Mansor.
Over the informal setting, both leaders sat down and took time to discuss regional and international issues of common concern, which included coordination efforts towards realising an Asean Community by 2015, as well as promoting peace, stability and prosperity in the region, which would be deliberated further as the two leaders join their other regional counterparts for the 17th Asean Summit that will be hosted by. the Vietnamese government.
The tragic humanitarian situation in Pakistan that had affected the lives of more than 20 million people was also touched on by both leaders as they agreed "to step up regional and international efforts towards disaster prevention and disaster relief'.
The upcoming 2nd Asean-US Leaders Meeting that will be hosted by US President Barack Obama in New York, on the sidelines of the 65th UN General Assembly on Friday, was also discussed by the two leaders as they "expressed confidence that the discussions would further enhance the regional grouping's relations with the US, particularly in promoting increased dialogue and cooperation".
As the Muslim world continues to celebrate the festive occasion, the Joint Statement also recorded His Majesty's Hari Raya Aidilfitri greeting to his Malaysian counterpart and to all Malaysians, who in turn, responded in kind.
The next Annual Leaders' Consultation will be hosted by the Sultanate next year, which both leaders "believed would be another successful year for Brunei-Malaysia relations".-- Courtesy of Borneo Bulletin
source: www.brudirect.com
