ISLAMABAD, May 18: Pakistan and Brunei agreed on Tuesday to strengthen their multi-faceted relationship through increased economic interaction, investment and joint ventures.

President Pervez Musharraf and Sultan Hassanal Bolkiah of Brunei, who led the two sides in official talks here at the Aiwan-i-Sadr, reaffirmed their mutual desire to upgrade relationship substantially.

The two sides identified telecommunications, banking, oil and gas, tourism, and hotel industry as areas which offered vast opportunities for economic cooperation.

Sultan Hassanal Bolkiah said he would instruct the Brunei investment agency to step up its interaction with Pakistan for exploring avenues of substantial ventures. The two leaders also discussed regional and international issues of mutual interest.

During the talks, President Musharraf informed the visiting leader that Pakistan had decided to accede to the Treaty of Amity of Cooperation which signals its desire to promote peace and stability in the Asian-Pacific region.

The Sultan of Brunei welcomed Pakistan's decision. The two leaders also exchanged views on making the Organization of Islamic Conference an effective body. Sultan Bolkiah expressed his full support to President Musharraf's initiative of Enlightened Moderation.

President Musharraf said Pakistan sought full dialogue partnership of Asean. President Musharraf briefed Sultan Bolkiah about Pakistan's efforts for establishment of peace in South Asia and the initiatives taken to improve relations with India and for peace and stability in Afghanistan.

ONE-TO-ONE TALKS: Sultan Hassanal Bolkiah and President Gen Pervez Musharraf held one-to-one talks on enhancing bilateral economic and political relations on Tuesday.

The two leaders went into talks soon after the arrival of Sultan Hassanal Bolkiah, who is paying a three-day state visit to Pakistan at the invitation of President Musharraf.

During the meeting, President Musharraf reiterated Pakistan's desire to promote peace and development in Asia and enhance trade and economic ties with Far Eastern and South-east Asian nations.

He also expressed Pakistan's desire to become a full member of Asean. The two leaders reiterated their common desire to strengthen economic and commercial relations between the two countries. They also exchanged views on making the Organization of Islamic Conference an effective and vibrant body.

ARRIVAL: Earlier, Sultan Hassanal Bolkiah was accorded a red-carpet welcome in a state ceremony at the Aiwan-i-Sadr on Tuesday. President Pervez Musharraf and Prime Minister Mir Zafarullah Jamali welcomed the Sultan of Brunei upon his arrival.

Sultan Bolkiah reviewed the guard of honour presented by a contingent of armed forces drawn from three services. The national anthems of both countries were also played. -APP