Taiwan and Brunei recently signed a memorandum of understanding (MOU) to promote the halal economy between them.
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’s representative to Brunei, Andrew Lee.
The BIMP-EAGA refers to the Brunei Darussalam-Indonesia-Malaysia- Philippines East ASEAN Growth Area, which covers 80 million people. It was launched in 1994 in Davao City in the Philippines to promote sub-regional economic cooperation.
Lee told CNA that the MOU resulted from 10 months of discussion initiated by the Taipei Economic and Cultural Office in Brunei and the BD BEBC.
“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.
According to Lee, the MOU aims to foster cooperation in the halal industry, reduce technical trade barriers, and facilitate bilateral relations between Taiwan and Brunei, particularly concerning halal export development and promotion programs.
It also focuses on the halal economy’s investment opportunities and possible joint ventures in the halal value chain between Taiwan and Brunei, he added.
According to Lee, Brunei is well-positioned to bridge the gap between Europe, the Middle East, South America and Taiwan in the halal industry, a global economic driver encompassing a 1.9 billion Muslim population.
Various Taiwanese halal-certified foods were displayed outside the MOU-signing venue as part of the representative office’s effort to showcase Taiwan’s efforts to venture into the global halal food market, he said.