Hakim Hayat & Dean Kassim in Istanbul, Turkey
His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam is scheduled to arrive in Istanbul, Turkey, today for a five-day official visit before proceeding to the country's capital city, Ankara, on Tuesday, according to a statement from the press office of Turkish President Abdullah Gul. This will be the first time Turkey will be hosting a head of state from the Sultanate.
During the official visit, His Majesty will be visiting historical buildings and sites in the country's financial centre, Istanbul, and will proceed to hold bilateral meetings and an MoU signing in Ankara.
His Majesty and the Turkish President will discuss the latest economic and strategic developments in the Middle East and Southeast Asia.
It was reported that Brunei bought a 20-per cent stake in Yildiz Holdings AS's margarine and vegetable oil producer MarsaYag.
Yildiz, the maker of Godiva chocolates, in a statement said it had set up a joint venture named Western Food and Packaging Sdn Bhd in Brunei with a $30-million capital.
The total value of the partnerships including the stake sale and the establishment of the new joint venture is $100 million. Brunei's interest in the Turkish market was apparently fuelled last year when the Brunei Investment Agency purchased small stakes in Turkish firms Migros and Akcansa.
- Borneo Bulletin
(8 April 2012)