As 47 delegates from the government and private sectors in Guangxi Zhuang Autonomous Region, People's Republic of China, are visiting Brunei Darussalam today, Brunei-China Friendship Association (BCFA) Deputy President Ang Swee Chuan spoke on the impact of the annual China-Asean Expo that has laid a solid foundation for Brunei, China and other countries' business cooperation.
Mr Ang foresees that the Expo provides an ideal platform for those who vie for comprehensive economic opportunities among Brunei, China and other Asean countries.
"Brunei enterprises have extended further trade cooperation with Chinese corporations to seek new business opportunities, and their participation in the Expo since 2004 has opened a new chapter of business opportunities and has served as a major boost for bilateral treaties," said the prominent businessman.
China and Brunei inked diplomatic relationship in 1991, and the long-standing ties culminated in the visit of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam to China on September 2004 and Hu Jintao, the president of the People's Republic of China to Brunei on April 2005.
It thus provides an ideal platform to enable investors of both countries to have fruitful discussions and fathom better trade strategies with their potential business partners to take advantage of the Asean market.
"The Expo has successfully yielded more collaboration in different sectors and closer ties between the parties especially in trade and investment expansion, technology transfer in agriculture, cultural and educational interactions."
Mr Ang further stated that the expo plays a vital role in realising the prerequisites of China-Asean FTA to make the establishment of China-Asean Free Trade Zone a reality. The development in the Northern Bay Economic Zone has been the new jewel of the crown and exemplifies the bright prospect of China-Asean FTA as a free, convenient, systematic and developing entity.
"In a nutshell, 'Framework Agreement on Asean-China Comprehensive Economic Cooperation' marks a new milestone for the strengthening of China-Brunei Trade," said Mr Ang.
He praised the hard work and gave full credit to the China-Asean Expo which has been successfully conducted for the fourth time, providing a platform for both parties to exhibit goods for display and transaction.
"A few years ago, Brunei-China trade volume was approximately US$ 1 billion. Now, with China-Asean Expo serving as the trading platform between China and Asean countries, the volume has surged to an encouraging US$4 billion," said Mr Ang.
During the past China-Asean Expo, tourism was thrust into the limelight and the surging investment agreements signed related to tourism last year reached a record high. Brunei as the theme country of the Fourth China-Asean Expo, showcased a unique booth modelled on the renowned Empire Hotel.
Acknowledging the immense potential of Brunei as a tourist paradise, he hoped that more Chinese tourists would know the Abode of Peace through the exhibition.
In giving suggestions to improve bilateral trade between Brunei and China, Mr Ang suggested that 1) both parties need to increase further investment and improve services to provide convenience for trading; 2) expanding the size of trade: Brunei and China should create circumstances favourable for trading in order to expedite bilateral trade; 3) expanding collaboration on higher technology node; 4) gradually promoting intra-regional development: Since Asean countries have better infrastructure, China fully supports Asean's effort in standardising their development and encourages China enterprises to establish more joint-ventures in the brisk trade growth of the Northern Bay Economic Zone.
Mr Ang also looks forward to the fifth CAExpo this coming October and urges the local businessmen to look into this opportunity to expand their businesses.
"Trade cooperation is an important part of bilateral relationship between countries. It is hoped that the fifth China-Asean Expo will lead to better ties in different sectors and dimensions between China and Asean Countries so trade can be sustained healthily," said Mr Ang.
"Now is the golden era for China and Asean countries and the successful organisation of China-Asean Expo will exemplify the wonderful example of the strong bonding between the two parties," he added.
source:Borneo Bulletin