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RESTRICTED WT/TPR/S/309 19 December 2014 (14-7336) Page RESTRICTED WT/TPR/S/309 19 December 2014 (14-7336) Page: 1/88 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT BRUNEI DARUSSALAM This report, prepared for the third Trade Policy Review of Brunei Darussalam, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Brunei Darussalam on its trade policies and practices. Any technical questions arising from this report may be addressed to Mr Ricardo Barba-Viniegra (tel: 022/ 739 5088) and Ms Stéphanie Dorange (tel: 022/739 5497). Document WT/TPR/G/309 contains the policy statement submitted by Brunei Darussalam. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Brunei Darussalam. This report was drafted in English. WT/TPR/S/309 • Brunei Darussalam - 2 - CONTENTS SUMMARY ........................................................................................................................ 6 1 ECONOMIC ENVIRONMENT ........................................................................................ 10 1.1 Recent Economic Developments ...................................................................................10 1.2 Trade Performance and Investment ..............................................................................11 1.2.1 Trade in goods and services ......................................................................................11 1.2.2 Foreign direct investment ...........................................................................................15 1.3 Outlook .....................................................................................................................15 2 TRADE AND INVESTMENT REGIME ............................................................................ 17 2.1 General Institutional and Legal Framework ....................................................................17 2.2 Trade Policy Formulation and Objectives ........................................................................17 2.3 Trade Agreements and Arrangements ...........................................................................17 2.3.1 WTO ......................................................................................................................17 2.3.2 Regional Trade Agreements ......................................................................................18 2.3.2.1 ASEAN .................................................................................................................18 2.3.2.2 Trans-Pacific Strategic Economic Partnership (TPSEP) Agreement ...............................20 2.3.2.3 Bilateral agreements .............................................................................................20 2.3.2.4 Other arrangements ..............................................................................................21 2.4 Investment regime .....................................................................................................21 2.4.1 Legal framework ......................................................................................................21 2.4.1.1 Incentives ............................................................................................................22 2.4.2 Starting a business ..................................................................................................23 3 TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 26 3.1 Measures Directly Affecting Imports ..............................................................................26 3.1.1 Customs procedures and requirements .......................................................................26 3.1.2 Customs valuation ...................................................................................................27 3.1.3 Rules of origin .........................................................................................................27 3.1.4 Tariffs and excise duties ...........................................................................................28 3.1.4.1 MFN applied tariff ..................................................................................................28 3.1.4.2 Bound tariff ..........................................................................................................31 3.1.4.3 Preferential tariff ...................................................................................................31 3.1.4.4 Excise duties ........................................................................................................32 3.1.5 Import prohibitions, restrictions, and licensing ............................................................33 3.1.5.1 Import prohibitions ...............................................................................................33 3.1.5.2 Import restrictions and licensing .............................................................................34 3.1.6 Contingency trade measures .....................................................................................35 3.1.7 Standards and other technical requirements ...............................................................35 3.1.8 Sanitary and phytosanitary requirements ....................................................................37 3.1.9 Labelling and marking ..............................................................................................38 3.2 Measures Directly Affecting Exports ..............................................................................38 WT/TPR/S/309 • Brunei Darussalam - 3 - 3.2.1 Export procedures and requirements ..........................................................................38 3.2.2 Export taxes, charges, and levies ...............................................................................39 3.2.3 Export prohibitions, restrictions, and licensing .............................................................39 3.2.4 Export support ........................................................................................................40 3.2.4.1 Duty drawback .....................................................................................................40 3.2.4.2 Tax exemption ......................................................................................................40 3.2.4.3 Export processing zones ........................................................................................40 3.2.5 Export finance, insurance, and promotion ...................................................................41 3.3 Measures Affecting Production and Trade .......................................................................41 3.3.1 Incentives ...............................................................................................................41 3.3.1.1 Tax incentives ......................................................................................................41 3.3.1.2 Other financial support ..........................................................................................43 3.3.1.3 Support to SMEs ...................................................................................................43 3.3.1.4 Research and development ....................................................................................44 3.3.1.5 Supporting Start-Ups and Innovation ......................................................................45 3.3.1.6 Credit support ......................................................................................................45 3.3.2 Competition policy, consumer protection, and price controls..........................................45 3.3.2.1 Competition policy ................................................................................................45 3.3.2.2 Consumer protection .............................................................................................46 3.3.2.3 Price controls........................................................................................................46 3.3.3 State trading, state-owned enterprises, and privatization .............................................47 3.3.4 Government procurement .........................................................................................48 3.3.5 Intellectual property rights ........................................................................................49 3.3.5.1 Overview .............................................................................................................49 3.3.5.2 Patents ................................................................................................................50 3.3.5.3 Trademarks, industrial designs and industrial layouts ................................................52 3.3.5.4 Copyright and related rights ...................................................................................53 3.3.5.5 Enforcement .........................................................................................................53 4 TRADE POLICIES BY SECTOR ..................................................................................... 55 4.1 Agriculture, Forestry and Fisheries ................................................................................55 4.1.1 Agriculture ..............................................................................................................55
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