Brunei Darussalam - Final List of Mfn Exemptions

BRUNEI DARUSSALAM - FINAL LIST OF MFN EXEMPTIONS Sector or sub sector Description of measure indicating its Countries to which the Intended duration Conditions creating the inconsistency with Article II measure applies need for the exemption All Sectors Future liberalisation of measures All Countries Indefinite The measure would be affecting limitations on foreign equity applied in a differentiated or interest in companies established manner to those in Brunei Darussalam shall be investment that match carried out in a differentiated Brunei Darussalam's manner, and at the discretion of the specific development relevant authorities. requirements with the abilities and facilities provided by foreign enterprises and their home countries. The objective is to maximise economic benefits of foreign participation in the Brunei Darussalam economy. All sectors Preferences for entry and temporary Traditional sources Indefinite. Brunei Due to the small stay of workers from traditional Darussalam will population base the sources of supply. periodically review this government needs to in the light of domestic regulate the flow of and national policy foreign workers, both considerations. skilled and unskilled, to ensure social cohesion in Brunei Darussalam. Legal Services All measures pertaining to the All countries Indefinite. Brunei The exemption is provision of legal services in Brunei Darussalam will keep necessary as the Darussalam. the possibility of establishment of foreign removing this law firms in Brunei exemption under Darussalam is based on review. case-by-case approval. BRUNEI DARUSSALAM - FINAL LIST OF MFN EXEMPTIONS Sector or sub sector Description of measure indicating its Countries to which the Intended duration Conditions creating the inconsistency with Article II measure applies need for the exemption Radio and Television The Radio Television Brunei (RTB) All countries. Currently, Brunei Darussalam To promote social accords preferential broadcast and only Singapore, Malaysia will keep the economic and cultural Radio and television is transmission rights to selected and Indonesia are given possibility of relations. defined to include: countries with which it has signed preferential broadcast and removing the - Free-to-air bilateral agreements. transmission rights. exemption under broadcasting review. - Cable and Pay television - Direct broadcasting by satellite - Tele text - All broadcasting services listed in Services Sectoral Classification List, MTN.GNS/W/120. BRUNEI DARUSSALAM - FINAL LIST OF MFN EXEMPTIONS Sector or sub sector Description of measure indicating its Countries to which the Intended duration Conditions creating the inconsistency with Article II measure applies need for the exemption Financial Services Treatment with respect to the All countries Indefinite To accord differentiated granting of approval to establish treatment to another offshore banks and merchant banks, member which accords to expand existing operations and favourable treatment to conduct new activities in the Brunei Darussalam financial services sector may be financial institutions. accorded to service suppliers of another member in a differentiated manner or on the basis of reciprocity and at the discretion of the relevant authority. Reinsurance and Exception granted to ASEAN ASEAN Indefinite To promote greater retrocession Reinsurance Corporation (ASEAN cooperation among Re), a private-sector venture with ASEAN in the reinsurance equal shareholdings from six sector. ASEAN countries, to be established with paid-up capital of B$6 million instead out the minimum B$10 million stipulated in the Insurance Act. Other than this, ASEAN Re is subject to the same rules and regulations applied to all reinsures in Brunei Darussalam. BRUNEI DARUSSALAM - FINAL LIST OF MFN EXEMPTIONS Sector or sub sector Description of measure indicating its Countries to which the Intended duration Conditions creating the inconsistency with Article II measure applies need for the exemption Banking and other Under a currency interchange ability Singapore Indefinite, until The currency interchange financial services agreement between Brunei either country ability agreement was Darussalam and Singapore, the terminates the entered into in 1967 currency issuing authorities of agreement. arising from special Brunei Darussalam and Singapore historical and economic would: ties between Brunei Darussalam and Singapore. - accept from banks, notes and coins by the other issuing authority, at par and without charge and to exchange such notes and coins into the currency of the country concerned; and - arrange for repatriation at the expanse of the respective currency issuing authority, the notes and coins issued by the other currency issuing authority and to receive at par the equivalent in any agreed currency. .

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