The European Union (EU) is actively involved in strengthening political and economic ties with Brunei by focusing on a relationship based on cooperation and partnership.
The Delegation of the European Union in Jakarta is responsible for building strong EU relations with Brunei. An EU-Brunei Partnership and Cooperation Agreement (PCA), for example, is in the process of being negotiated and will cover a range of political and economic areas. A large amount of Brunei’s foreign direct investment comes from the EU, and as such there are gains to be made for both sides.
Brunei is also a member of the Association of Southeast Asian Nations (ASEAN), some other members of which have or are looking to have similar PCAs with the EU.
Trade between the EU and Brunei, a member of the Association of Southeast Asian Nations (ASEAN), amounts to hundreds of millions of euros annually and consists mainly of machinery, motor vehicles and chemicals. The policy of the government in Brunei is to diversify the economy and improve infrastructure so that the country does not need to rely on hydrocarbon reserves.