21 December 2006 - His Majesty Sultan Haji Hassanal Bolkiah Muizzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and Mr. Junichiro Koizumi, the Prime Minister of Japan met at the sidelines of the 11th ASEAN Summit in Kuala Lumpur, Malaysia in December 2005 and agreed to negotiate a bilateral trade agreement.

Since the official launching of negotiations by the Foreign Ministers of Brunei Darussalam and Japan, negotiators have reached an agreement in principle on the main elements of the Brunei – Japan Economic Partnership Agreement (BJEPA).

The BJEPA will be Brunei Darussalam’s first bilateral trade agreement and reflects the importance of Japan to Brunei Darussalam as a close neighbour and trading partner.

The Agreement will build upon strong economic ties and will facilitate the free flow of goods, investment and services. It will enhance cooperation in energy, human resources development and capacity building. It will also create greater opportunities for the private sector and improve access to the Japanese market.

Brunei Darussalam and Japan have agreed to conclude BJEPA negotiations on all outstanding matters as soon as possible.