(Last updated: 24 January 2012)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Brunei. This is regularly updated, and should be checked before planning travel.

Country facts

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

Economic climate

On 1 January 2010 the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) came into force; Australia’s most ambitious trade deal to date. Australian business is urged to take a close look at the opportunities created by the agreement, as it will deliver real commercial benefit for Australian exporters and investors doing business in Brunei. More information on AANZFTA is available here.

Brunei's economy is heavily dependent on revenue from oil and gas. Although prospects for the growth of oil and gas exports are good, the Bruneian economy is vulnerable to movements in global oil prices.

Brunei's merchandise economy is made up of small-scale manufactures in sectors such as: textiles, food products, creameries and beverages, furniture and primary production, for example, forestry, agriculture and fishing.

For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.

Political climate

The Sultan is the absolute monarch and patriarch of the people. There are three policy councils who all advise the Prime Minister:

• The Religious Council
• The Privy Council
• The Council of Cabinet Ministers

The Parti Perpaduan Kebangsaan Brunei (Brunei National Solidarity Party, PPKB) is currently the only registered political party in Brunei and plays a minimal role in political affairs.

Trade relations and statistics

Trade and investment is an important focus of Australia’s bilateral relationship with Brunei. Continued development in two-way trade in sectors such as livestock, specialised machinery and equipment and crude petroleum imports is also expected.

The focus of Bruneian investment is largely in the Northern Territory, where the Bruneian Government owns four cattle stations, has equity in two abattoirs, and has a controlling interest in a cattle exporting company.

Brunei is one of four participants in the Brunei, Indonesia, Malaysia, Philippines – East ASEAN Growth Area (BIMP-EAGA). The objective of BIMP-EAGA is to secure enhanced growth and development in this sub-region of ASEAN.

Please see the Department of Foreign Affairs and Trade - Country economic fact sheet for key trade statistics.