GENERAL AGREEMENT GATS/EL/95
15April 1994
ONTRADE INSERVICES (94-1156)
BRUNEI DARUSSALAM
Final ListofArticle II(MFN) Exemptions
(This isauthentic inEnglish only)
____________________BRUNEI DARUSSALAM -FINAL LIST OFARTICLE II(MFN) EXEMPTIONS
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
AllSectors Future liberalisation ofmeasures
affecting limitations onforeign
equity orinterest incompanies
established inBrunei Darussalam
shall becarried outina
differentiated manner, andatthe
discretion oftherelevant
authorities.AllCountries Indefinite Themeasure would beapplied
inadifferentiated manner to
those investment thatmatch
Brunei Darussalam 'sspecific
development requirements with
theabilities andfacilities
provided byforeign enterprises
andtheir home countries. The
objective istomaximise
economic benefits offoreign
participation intheBrunei
Darussalam economy.
Allsectors Preferences forentry and
temporary stayofworkers from
traditional sources ofsupply.Traditional sources Indefinite. Brunei Darussalam
willperiodically review thisin
thelight ofdomestic and
national policy considerations.Duetothesmall population base
thegovernment needs to
regulate theflow offoreign
workers, bothskilled and
unskilled, toensure social
cohesion inBrunei Darussalam.
Legal Services Allmeasures pertaining tothe
provision oflegal services in
Brunei Darussalam.Allcountries Indefinite. Brunei Darussalam
willkeep thepossibility of
removing thisexemption under
review.Theexemption isnecessary as
theestablishment offoreign law
firms inBrunei Darussalam is
based oncase-by-case approval.
GATS/EL/95
Page1BRUNEI DARUSSALAM (continued)GATS/EL/95
Page2
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Radio andTelevision
Radio andtelevision
isdefined toinclude:
- Free-to-air
broadcasting
- Cable andPay
television
- Direct
broadcasting by
satellite
- Teletext
- All
broadcasting
services listed
inServices
Sectoral
Classification
List,
MTN.GNS/W/
120.TheRadio Television Brunei
(RTB) accords preferential
broadcast andtransmission rights
toselected countries withwhich
ithassigned bilateral
agreements.Allcountries. Currently, only
Singapore, Malaysia and
Indonesia aregiven preferential
broadcast andtransmission
rights.Brunei Darussalam willkeep the
possibility ofremoving the
exemption under review.Topromote social economic and
cultural relations.BRUNEI DARUSSALAM (continued)
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Financial Services Treatment withrespect tothe
granting ofapproval toestablish
offshore banks andmerchant
banks, toexpand existing
operations andconduct new
activities inthefinancial services
sector maybeaccorded to
service suppliers ofanother
member inadifferentiated
manner oronthebasis of
reciprocity andatthediscretion
oftherelevant authority.Allcountries Indefinite Toaccord differentiated
treatment toanother member
which accords favourable
treatment toBrunei Darussalam
financial institutions.
Reinsurance and
retrocessionException granted toASEAN
Reinsurance Corporation
(ASEAN Re),aprivate-sector
venture withequal shareholdings
from sixASEAN countries, to
beestablished withpaid-up
capital ofB$6million instead
outtheminimum B$10 million
stipulated intheInsurance Act.
Other thanthis,ASEAN Reis
subject tothesame rules and
regulations applied toall
reinsurers inBrunei Darussalam.ASEAN Indefinite Topromote greater cooperation
among ASEAN inthe
reinsurance sector.
GATS/EL/95
Page3BRUNEI DARUSSALAM (continued)GATS/EL/95
Page4
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Banking andother
financial servicesUnder acurrency
interchangeability agreement
between Brunei Darussalam and
Singapore, thecurrency issuing
authorities ofBrunei Darussalam
andSingapore would:Singapore Indefinite, until either country
terminates theagreement.Thecurrency interchangeability
agreement wasentered intoin
1967 arising from special
historical andeconomic ties
between Brunei Darussalam and
Singapore.
- accept from banks, notes
andcoins bytheother
issuing authority, atpar
andwithout charge andto
exchange such notes and
coins intothecurrency of
thecountry concerned;
and
- arrange forrepatriation at
theexpanse ofthe
respective currency issuing
authority, thenotes and
coins issued bytheother
currency issuing authority
andtoreceive atparthe
equivalent inanyagreed
currency.