The country owes its prosperity to its abundant petroleum (oil and
gas) resources whose share of GDP stood at 69% in 2006 accounting for
96% of exports and 94% of Government revenue. This leaves Brunei
vulnerable to external shocks, particularly given the prospect of an
eventual depletion of these resources probably over the next couple of
The Government has faced the challenge and has been encouraging economic
diversification, mainly into manufacturing and services, especially
financial services, tourism and transport, but despite the provision of
investment incentives for the private sector success in achieving this
goal has been slow so far.
The report also notes that lack of transparency and public
accountability in government policies might adversely affect the aim of
encouraging foreign investment.
The WTO Secretariat report, along with a policy statement by the
Government of Brunei Darussalam, will be the basis for the second TPR of
Brunei Darussalam by the Trade Policy Review Body of the WTO on 25 and
27 February 2008.
The WTO report, along with a policy
statement by the Government, will be the basis for the Trade Policy
Review (TPR) by the Trade Policy Review Body of the WTO.
following documents are available in MS Word format.
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Trade Policy Reviews are an exercise, mandated in the WTO agreements,
in which member countries’ trade and related policies are examined and
evaluated at regular intervals. Significant developments that may have
an impact on the global trading system are also monitored. For each
review, two documents are prepared: a policy statement by the
government of the member under review, and a detailed report written
independently by the WTO Secretariat. These two documents are then
discussed by the WTO’s full membership in the Trade Policy Review Body
(TPRB). These documents and the proceedings of the TPRB’s meetings are
published shortly afterwards.
copies of previous TPR publications are available for sale from the
WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211
Genève 21 and through the
TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews
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Madagascar: 2 and 4 April 2008
Mauritius: 23 and 25 April 2008
China: 21 and 23 May 2008
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