James Kon
Trade between Brunei Darussalam and Guangxi Zhuang Autonomous Region, China reached USD60 million last year – a 531.1-per-cent increase while the investment values at USD3.6 billion.
The growing trade and bilateral relation report was shared by an official from the Department of Commerce of Guangxi Zhuang Autonomous Region, Dou Xilin, during an official visit to the Brunei-China One Belt One Road Association yesterday.
Dou is leading an economic and trade delegation of 35 entrepreneurs from Guangxi China to the Sultanate to forge business cooperation.
He highlighted, “The increase in trade and investment is attributed to the Brunei-Guangxi Economic Corridor (BGEC) signed into effect in late 2014 to promote investment and economic cooperation, specifically in bio-innovation, agriculture and aquaculture.” He recalled, “The third Brunei-Guangxi Economic Corridor Joint Cooperation Committee (BGEC JCC) meeting in February, saw the signing of a memorandum of understanding to upgrade the Guangxi-Brunei Economic Corridor Cooperation and secure several industrial project cooperation agreements. The economic and trade cooperation has expanded with a number of key projects in operation.”
He also emphasised on the potential of cooperation in halal food as well as maritime industry, with the Muara Port Company Sdn Bhd playing an important role in linking sub-regional, regional and global markets.
He also welcomed members of the Brunei-China One Belt One Road Association to take part in the upcoming China-ASEAN Expo (CAEXPO) in September 2023. President of Brunei-China One Belt One Road Association Jackson Ting said, “This is the largest economic and trade delegation that we have received since the establishment of the association. We hope that with the visit, we can further build understanding and cooperation between our members and members of the delegation.”
He added, “Our members from various business sectors and industries hope to contribute to the bilateral ties between Brunei and China. Hopefully, we can have fruitful discussions on future cooperation.”
