Brunei was one of the first four countries to sign the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP) in 2005, along with Chile, New Zealand, and Singapore. This agreement, also known as P4, was a comprehensive trade agreement that covered a variety of matters of economic policy, including trade in goods, rules of origin, trade remedies, and intellectual property. The TPSEP served as the foundation for the Trans-Pacific Partnership (TPP), which aimed to expand trade liberalisation and facilitate trade within the Asia-Pacific region. Brunei played an important role in the formation of the TPP, hosting pivotal meetings of the Asia-Pacific Economic Cooperation (APEC) where discussions on trade agreements began. As a member of the TPSEP and a key player in the early negotiations, Brunei was included in the TPP to continue its involvement and contribution to the development of economic partnerships in the region.
Characteristics | Values |
---|---|
GDP | $16.7 billion |
GDP per capita | $40,387 |
GDP growth rate | -0.7% |
Consumers | 0.4 million |
Main imports | Machinery, mineral fuel, oil, vehicles, electric machinery, ships/boats and floating structures |
Canada's merchandise exports to Brunei (2012-2014 annual average) | $12.8 million |
Canada's exports to Brunei (2012-2014 average) | Wood and other forestry products: $20,174; Industrial goods: $12.3 million |
Brunei's commitments to Canada | Improved market access in key sectors, such as environmental services and services related to mining |
Brunei's commitments to Canada | Enhanced access for Canadian installers and servicers, investors, and certain highly-skilled professionals |
Brunei's commitments to Canada | Regional standard for intellectual property (IP) protection and enforcement |
Brunei's commitments to Canada | Government procurement commitments |
What You'll Learn
Brunei's role in the formation of the TPP
The TPSEP agreement, which Brunei played a crucial role in negotiating and finalising, covered a comprehensive range of issues, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement, and competition policy. It also called for significant reductions in tariffs among member countries, with a 90% reduction by 2006 and the elimination of all tariffs by 2015. This laid the groundwork for the more ambitious goals of the TPP.
In addition to its role in the TPSEP, Brunei actively participated in the negotiations for the TPP, which began in 2008 and involved twelve countries. Brunei's involvement in these negotiations contributed to shaping the final agreement, which was signed in 2016.
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The TPP's impact on Brunei's imports and exports
Brunei's participation in the Trans-Pacific Partnership (TPP) is significant, given its role in the formation of earlier trade agreements that laid the groundwork for the TPP in 2005. Brunei was a key player in the Asia-Pacific Economic Cooperation (APEC) and hosted a pivotal meeting in 2000, which set the ball rolling for subsequent negotiations.
Through the TPP, Canadian service suppliers will gain improved market access into Brunei in sectors such as environmental services and mining-related services. Additionally, the TPP will make it easier for Canadian businesses to temporarily relocate certain categories of business personnel to Brunei, including installers, servicers, investors, and highly skilled professionals.
In terms of specific imports and exports, the TPP will enhance Canada's government procurement commitments with Brunei, promoting non-discrimination, transparency, and procedural fairness. This will open up new opportunities for Canadian suppliers in securing government procurement contracts.
The TPP is also expected to have a positive impact on Brunei's wood and forestry products, as well as industrial goods. Canada's exports to Brunei in these sectors have already shown significant value, with coniferous sawn wood, industrial robotics, and metal furniture being key products.
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Brunei's commitments to protecting intellectual property
Brunei has demonstrated its commitment to protecting intellectual property rights (IPR) through various measures and initiatives. The country signed the Agreement on Trade-Related Aspects of Intellectual Property (TRIPs) in 1994, which came into force in 1995. To meet its TRIPs commitments, Brunei passed IPR legislation that took effect on 1 January 2000.
The current laws under the IPR regime in Brunei cover trademarks, patents, copyright, layout designs, and industrial designs. The Trade Marks Act and Trade Mark Rules govern trademark registration, while the Inventions Act provides protection for patents, with additional provisions in the Emergency (Patents) Order. Copyright protection arises automatically from the creation of works, and there is no requirement for registration. The Emergency (Layout Designs) Order protects original layout designs, and the Emergency (Industrial Designs) Order and Industrial Designs Rules provide for the registration of new industrial designs.
Brunei has also established the Brunei Intellectual Property Office (BruIPO) in 2013, which is responsible for registering patents, trademarks, industrial designs, and plant variety protection. The country is in the process of strengthening its IPR protection and enforcement by developing an IPR regulatory environment and improving public awareness. However, there is still room for improvement in the active enforcement of existing IPR regulations and intellectual property training standards for law enforcement and customs officials.
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The TPP's impact on Brunei's government procurement
The Trans-Pacific Partnership (TPP) is a trade agreement between 12 Pacific Rim economies, including Brunei. The TPP's impact on Brunei's government procurement is significant, as it provides enhanced market access for Canadian suppliers to government procurement contracts. This is part of the new commitments established by the TPP, which also include measures to promote non-discrimination, transparency, and procedural fairness in the procurement process. Additionally, the TPP has set a strong regional standard for intellectual property (IP) protection and enforcement, introducing a range of IP disciplines that are new to Brunei's domestic regime.
The TPP builds on the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP), which was signed by Brunei, Chile, New Zealand, and Singapore in 2005 and entered into force in 2006. The TPSEP is a comprehensive trade agreement that covers various matters of economic policy, including government procurement. It called for a 90% reduction in tariffs between member countries by 2006 and the elimination of all trade tariffs by 2015. The TPSEP contains an accession clause, expressing the members' commitment to encourage other economies to join the agreement.
The TPP negotiations were held between 2008 and 2015, with the goal of obtaining an agreement between the TPSEP parties and additional countries. Brunei played a crucial role in the formation of the earlier trade agreements that led to the creation of the TPP in 2005. The country first participated as a full negotiating party in April 2005, during the fifth and final round of talks for the TPSEP.
The TPP agreement covers a wide range of issues, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement, and competition policy. It aims to lower both non-tariff and tariff barriers to trade and establish an investor-state dispute settlement (ISDS) mechanism. The agreement is expected to have positive economic outcomes for all signatories, according to the U.S. International Trade Commission, the Peterson Institute for International Economics, the World Bank, and the Office of the Chief Economist at Global Affairs Canada.
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Brunei's role in the TPSEP
Brunei played a significant role in the formation of the Trans-Pacific Strategic Economic Partnership (TPSEP) agreement, which later evolved into the Trans-Pacific Partnership (TPP). Brunei has been a member of the Asia-Pacific Economic Cooperation (APEC) since 1989 and hosted the pivotal APEC meeting in 2000, where discussions on trade liberalisation began. Subsequently, in July 2002, Brunei hosted the ASEAN Regional Forum (ARF).
In 2005, Brunei, Chile, New Zealand, and Singapore concluded negotiations on the TPSEP, also known as the Pacific-4 (P4). This agreement aimed to liberalise trade and investment, strengthen special links of friendship, and encourage further cooperation among the parties. It called for a 90% reduction in tariffs between member countries by 1 January 2006 and the elimination of all trade tariffs by 2015. The TPSEP is a comprehensive agreement covering various aspects, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement, and competition policy.
Although the TPSEP members are part of APEC, it is important to note that the TPSEP and its evolution into the TPP are not APEC initiatives. However, the TPP is considered a pathfinder for the proposed Free Trade Area of the Asia Pacific (FTAAP), an APEC initiative.
Brunei first participated as a full negotiating party in April 2005, before the fifth and final round of talks. The TPSEP agreement entered into force for New Zealand and Singapore on 28 May 2006, for Brunei on 12 July 2006, and for Chile on 8 November 2006.
In conclusion, Brunei's role in the TPSEP was significant as it was one of the four founding members and actively contributed to the negotiations. The TPSEP laid the foundation for the future expansion and development of the TPP, which included additional countries and built upon the framework established by the TPSEP.
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