How Are Brunei and Singapore Strengthening Their Agri-Tech Food Ties?
Synopsis
Key Takeaways
- Brunei and Singapore are launching a joint feasibility study for an Agri-Tech Food Zone.
- The initiative is aimed at enhancing food supply resilience for both nations.
- It will attract high-value agri-food investments and create employment opportunities.
- The ATFZ will foster innovation in agri-technology.
- Both countries aim to enhance their roles as regional leaders in sustainable agri-food production.
Bandar Seri Begawan, Nov 16 (NationPress) The Ministry of Finance and Economy (MOFE) of Brunei, in partnership with Singapore's Ministry of Sustainability and the Environment and the Singapore Food Agency, is set to embark on a joint feasibility study aimed at creating a Brunei-Singapore Agri-Tech Food Zone (ATFZ).
The ATFZ is designed to enhance food supply resilience for both nations, as reported in a statement from MOFE on Saturday. It seeks to attract lucrative agri-food investments, generate job opportunities, and develop local capabilities within the agri-food industry, according to Xinhua news agency.
This initiative also promotes advancements in agri-technology, positioning Brunei and Singapore as frontrunners in sustainable and technology-oriented agri-food production.
As per the Ministry, this effort aims to utilize Brunei's strategic land advantages and its economic diversification goals, complemented by Singapore's proficiency in agri-technology and its regulatory framework, as well as market access.
The ATFZ is anticipated to cultivate a competitive agri-food ecosystem that facilitates the production, processing, and export of premium food products to both regional and international markets.
In July, senior officials from Brunei and Singapore convened for their third joint committee meeting, furthering cooperation across various priority sectors.
Hajah May Fa'ezah Ahmad Ariffin, permanent secretary at MOFE, noted that critical sectors include food security, healthcare, low-carbon energy, and green economy, as outlined in the Memorandum of Understanding (MoU) aimed at enhancing trade and investment cooperation in food and medical products, along with another MoU focused on energy and green economy collaboration.
She stressed the necessity of resilience and innovation for improved competitiveness and adaptability, urging for focused implementation, prompt delivery, and measurable outcomes.
The meeting included permanent secretaries, deputy permanent secretaries, and senior officials from both nations.
According to Singapore's Ministry of Foreign Affairs, the relationship between Singapore and Brunei is exceptional.
Leaders from both sides maintain close personal relationships and engage in frequent exchanges at all levels.
The two nations have enduring agreements such as the Currency Interchangeability Agreement, which celebrated its 50th anniversary in 2017, and they collaborate in defense, finance, trade and investment, tourism, healthcare, aquaculture, and education.
Moreover, they are strong allies in ASEAN and other international platforms.