The first two cooperative projects between Brunei and the Guangxi Economic Corridor have shown a 26 per cent increase in foreign trade and investment, since its implementation only seven months ago.

This positive bilateral cooperation was highlighted yesterday by Peng Qinghua, the Secretary of the Communist Party for China's Guangxi Committee, during a courtesy call with Yang Behormat Pehin Orang Kaya
Pekerma Dewa Dato Seri Setia Lim Jock Seng, Minister at the Prime Minister's Office and Minister of Foreign Affairs and Trade II; and Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, the Minister of Energy and Industry at the Prime Minister's Office, which was held at the International Conference Hall of Liyuan Resort in Nanning, China.

The courtesy call was made in conjunction with the 13th China-Asean Expo (CAEXPO) starting today (September 11) until September 14, as well as the 13th China-Asean Business and Investment Summit (CABIS) which also starts today.

According to Peng, there has also been an increase in bilateral investments with six projects undertaken by Brunei in Guangxi valued at nearly US$11 million, while Guangxi has invested two projects in Brunei totalling US$8.8 million.

"We intend to promote further cooperation between Brunei and Guangxi with a few more agreements to be signed in the coming days during the expo," he said.

He went on to add that Brunei is one of the important partners in the Asean region, which in recent years has witnessed rapid development and cooperation between Guangxi and Brunei in various areas.

"Brunei has great influence in the Asean region, which is why the Chinese Government is placing great importance on the development of friendly ties with the country," he said.

This year's CAEXPO will occupy a total of 30,000 square metres with a record 5,800 booths from 10 Asean member states at the NanningInternationalConvention and Exhibition Centre (NICEC),

which has housed the CAEXPO for the past 12 years. The NICEC has been expanded this year, with new venues to accommodate the ever-increasing demand of trade exhibitors, investors and visitors, that have become a platform for people-to-people exchanges.

Brunei signed an agreement in September 2014 with the Guangxi Zhuang Autonomous Region to establish the economic corridor. The agreement will also establish a chain link to boost trade and investment, given the region's close proximity with the South China Sea, rich resources and skilled labour force.

Source:
@BRUDIRECT.COM

by BruDirect.com

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