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More areas of cooperation can be explored by Brunei, China: minister

Xinhua, December 20, 2016 Adjust font size:

In line with Brunei's Vision 2035 and China's Belt and Road Initiative, "there are many more areas of cooperation and common goals that can be explored by our two countries", Brunei's Minister of Home affairs Haji Awang Abu Bakar said on Tuesday.

The official said both Brunei and China have a long tradition of friendship based on mutual respect and understanding.

"Our bilateral relationship is growing even stronger with a wide range of cooperation that includes energy infrastructure, agriculture, fisheries, education, tourism as well as exchange between our people. Today, China is one of Brunei's largest trading partners," the minister told the opening ceremony of Bank of China( Hong Kong) Brunei Branch.

Bank of China (Hong Kong) opened its first branch in Brunei on Tuesday, establishing presence of first Chinese financial institution in the sultanate, which also marked a further important link between the two economies.

"There are currently nearly 30 companies from China in Brunei. The number is growing very fast and the total amount of direct investment from China in 2016 has surpassed the total figure from previous years", Abu Bakar said.

"These investments provide benefits for local consumers, suppliers, community as well as employees. Brunei, a peaceful land and green heart of the ASEAN region with its high educational and environmental advantages, welcomes foreign investments by providing good platform and opportunities to access ASEAN and Islamic markets", he added.

As for the establishment of Bank of China Brunei Branch, the minister said the opening of the Brunei Branch "shows your confidence in the future of Brunei and ASEAN".

He placed his hopes that Bank of China will help Brunei to satisfy its demand for achieving Vision 2035, especially in serving Foreign Direct Investments, developing Small and Medium Enterprises and to promote bilateral economic and trade relations between Brunei and China. Endit