His Majesty attended a session to mark the announcement of the substantial conclusion of the ASEAN-Australia-New Zealand Free Trade Area, AANZFTA Upgrade Negotiations, which is one of Cambodia’s Priority Economic Deliverables, PEDs for its Chairmanship of ASEAN this year. The session held at the session at the side-lines of the 40th and 41st ASEAN Summits was joined by His Excellency Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, as the Chair of ASEAN Summit this year, His Excellency Anthony Albanese, Prime Minister of Australia and Her Excellency, Jacinda Arden, Prime Minister of New Zealand. Brunei Darussalam is the country coordinator for the AANZFTA and its upgrade negotiation which started in 2021. The upgraded agreement will open up new opportunities as new elements have been incorporated into the Agreement such as Micro, Small and Medium Enterprises (MSMEs) and Trade and Sustainable Developments.
With the upgrade, the agreement maintains its high standard, responsive towards emerging challenges, takes into account modern trade practices, and remains commercially meaningful to businesses in the region. The upgraded agreement is also expected to facilitate growth and development of an inclusive and sustainable regional economy.
Source: Radio Television Brunei