Brunei

U.S. firms are working in the energy sector, in financial services, and consulting for government projects, and U.S. franchises and brands are opening and thriving in Brunei. Trade between the United States and Brunei in 2016 totaled $628 million. Aircraft procured by Brunei from the United States in recent years include Sikorsky Black Hawk S70i helicopters and Boeing 787 Dreamliners. Brunei’s hydrocarbon-dependent economy has been experiencing some fiscal constraints since 2014. This has resulted in a focused interest and increased openness to bilateral trade. The government of Brunei has worked hard to strip away business regulations, resulting in the Sultanate being ranked the most improved country in the World Bank’s Ease of Doing Business Report for the last two years. Brunei has increasingly and actively sought out foreign direct investment in an effort to diversify away from its oil and gas dependence and developed various incentives for new industries and economic activities in order to create a more attractive marketplace for investors. Brunei’s non-petroleum industries include manufacturing, construction, agriculture, forestry, fishing, and services. Brunei was a member of the P-4, the four founding members of the Trans-Pacific Partnership trade agreement (TPP) and is also a negotiating partner of the Regional Comprehensive Economic Partnership (RCEP).