Bilateral trade between Brunei and China shows strong growth

James kon

Bilateral trade between Brunei and China from January to October this year returned to strong growth reaching $ 23.7 billion, surpassing the total trade volume of 2020. This is a record high, said the Chinese Ambassador to Brunei Darussalam Yu Hong.

Hengyi Petrochemical has expanded the chain of Brunei’s downstream oil and gas industry and has become a driving force in providing employment opportunities and enhancing economic growth in Brunei Darussalam. The Guangxi-Brunei Economic Corridor is an important platform for economic cooperation between China and Brunei, she said yesterday on the 30th anniversary of the exchange of diplomatic relations between Brunei and China.

The aim is to celebrate the 30th anniversary of diplomatic relations and strengthen ties between the peoples of Brunei Darussalam and China through an exchange of stories and personal experiences in each other’s country by representatives of the two countries in the past 30 years.

The ambassador also said that China appreciates Brunei’s recognition of the one-China principle, while China also supports Brunei’s role as ASEAN chairman this year.

Chinese Ambassador to Brunei Darussalam Yu Hong. PHOTO: JAMES KON

The Ambassador added, “In addition, China also supports ASEAN’s position in regional cooperation.

“Over the past 30 years, the two countries have entered into mutual benefits and cooperation that benefits both sides.

Economic and trade cooperation has brought mutual benefits to both countries. In recent years, China has emerged as Brunei’s largest source of foreign investment and third-largest trading partner.

She added that the friendship between the countries has grown and strengthened over the past 30 years.

“We are also taking this 30th anniversary as a new starting point. We commit to promote high-quality development across the “Belt and Road” and strengthen the strategic alignment of China Vision 2035 and Brunei Vision 2035, focus on economic recovery from the COVID epidemic and ” make further contributions to promote the continued development of bilateral relations, lead and maintain regional peace, stability and prosperity.

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