Even amid challenging economic times globally, the Brunei-China trade relations continue to expand with the last year witnessing a nearly 50 per cent increase in Chinese investments into the country and a significant 50-fold rise in signed projects.

Revealing these data at a press conference yesterday at The Empire Hotel & Country Club following meetings with His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam; and Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng, Minister at the Prime Ministers Office and Minister of Foreign Affairs and Trade II; Wang Yi, Minister of Foreign Affairs of the People's Republic of China pointed out that the figures are testament to the "huge potential and promise" of the Brunei-China cooperation in several industries ranging from oil and gas to agriculture and fisheries.

As part of the Chinese plan to cooperate bilaterally, he said that China will need to listen to the views of Brunei as a means to determine what it is that the Sultanate is in need of and that "we will continue to step up such cooperation in the light of Brunei's needs and for it to be advantageous for both sides".

Stressing that "China has great political will to step up mutual beneficial cooperation with Brunei," the foreign minister said that China emphasises its support and appreciation for Brunei's desire for economic diversification as outlined in the country's Vision 2035.

"If Brunei wants to develop a particular industry, then China wants to offer our quality production capacity," he explained, extending invitation for financial assistance through the Silk Road Fund and the Asian Infrastructure *Investment Bank should there be a need for support in such form.

The enhanced bilateral relationship, he pointed out, can also prove beneficial to other countries within the region, assuring that the super power's presence in this part of the world through Brunei is not intended to intimidate.

"The China-Brunei friendship has come this far which shows that the increasing strength of China by no means poses any threat or challenge to any other country. Instead, China's development will only bring opportunities to our neighbours."

With major projects for oil and gas already in the pipeline under the purview of, among others, Pulau Muara Besar, he said that the Chinese government is interested in enhancing cooperation in several other areas such as medical care, health, education, culture, youth as well as sports.

Describing agriculture and fisheries as important industries that Brunei and China have cooperated upon, the foreign minister expressed hope that more can be done in Brunei's self-sufficiency programmes, in particular hybrid rice farming, while at the same time exploring more opportunities in the fisheries industry through harnessing China's capacity for production, farming as well as ship making.

As for projects that are still in the works, the foreign minister said that the initiative for the Brunei-Guangxi Economic Corridor is gaining traction with the first half of this year expected to see the formation of a joint meeting working group.

"The Chinese government supports this initiative because this can accentuate our will to synergise China's development strategy with Brunei's Vision 2035," he said.

The economic corridor includes one port, specifically the Pulau Muara Besar port, two industrial parks, namely the Nanning-Brunei Agricultural Industrial Park and the Guilin-Brunei Chinese Medicine Wellness Park, and three cultivation projects for rice, oyster and agriculture.

"I am sure that these specific projects are closely connected with the wellbeing of the people in this country and therefore we hope to see early and concrete results from these projects."

Source:
@BRUDIRECT.COM

by BruDirect.com

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