Gary Ho presented in Chile “Brunei Bio-innovation Corridor”Iris Kong
15th September, 2014
SQW China Limited (“SQW“) is the company that runs the project “Brunei BioInnovation Corridor” (BIC), which seek to transform into a center of Brunei exports Halal and non-Halal products to the ASEAN region and China, a region that has the highest concentration of population worldwide. The Managing Director of the firm, Mr. Gary Ho said in Chile project characteristics and the advantages it brings to Chilean exporters.
The new big bet Brunei
Brunei is strategically located in the heart of Southeast Asia, which allows you to export to the Americas via the Pacific Ocean. The Sultan of Brunei, considering the above and viewing to base the economy almost exclusively on the exploitation and marketing of hydrocarbons is not a sustainable scenario in time, given the task of designing a plan for attaining the diversification of the economy a scenario of medium and long term. Thus was born the project “Brunei BioInnovation Corridor” (BIC), with the main objective to diversify its economy beyond oil and gas and transform this country into an export port of Halal and non Halal products’ to the ASEAN region and China.
“We are trying to attract companies to Brunei, considering that our commitment is to the development of Halal certified products that are destined to China and Muslim markets. We are experts in the field and for us Halal is a standard of quality, more than a religious requirement, now reaches a significant market consumers, which must surely also be an attraction for Chilean exporters, “said Gary Ho.
In addition, he explained SQW tasks is to implement the corridor. Raw material or semi-manufactured goods from the rest of the world, Chile will see a great opportunity, because we have trade agreements with this region of Asia that benefit us and also with a quality offering will be imported. Then he processed and packaged these products in Brunei finally export to ASEAN and China to meet regional demand, especially Halal “he said.
Why they came to Chile?
“Chile is internationally renowned for the quality of its food, social conditions and is a leader in the South American context. In addition, it is a business partner by TPP agreement-along with Singapore and New Zealand. Moreover, Chile is seen as strategic exit door for the food supply of the region to Southeast Asia. Half a year ago we started talking about the project in Chile and we discussed with the government of China. Brunei-Chile is a good route and the shortest trip from Chile to the area, he said.
What is the potential for Chilean products beyond?
“The intention is to have suppliers of raw materials, semi-finished or finished products, so as to enhance the total volume of production the available supply from Brunei. The Chilean supply can benefit from the facilities available in the agro-technology park, relatively lower than those present in other markets in the area, shorter than Singapore, strategically located in the heart of Southeast Asia shipping routes and costs for low tariff rates entry into other markets in the region, “he added.
Gary Ho of SQW further explained that, on behalf of the Government of Brunei is looking for importers of food, cosmetics, personal care products and pharmaceuticals companies to establish processing plants and distribution in this corridor of Brunei. In this regard, he noted the existence of tariff preferences for Chileans.
“There are some products such as almonds and walnuts, which if directly shipped from Chile to China will pay 5%, and in the case of products pay 25% tariff preference. However, if sent to Brunei will pay 0%. The case is also found in fish, oils, frozen meat, and many others. Also for this string nuts delivers many benefits to be competitive ” he said.
Finally, Gary Ho said he was hopeful of a fruitful relationship arising between Chile and Brunei in the context of the corridor. “We hope that in addition to working with China, Chile are encouraged to join a small country like Brunei on a long-term process and that together we can create a continuous sustainable economic development in these processes. We are very motivated to Chile, “he concluded.
Sources: BCN News Cover Link