On Oct 21, the National Promotion Conference of Brunei was held in Nanning International Convention and Conference Center.
According to officials participating the event, with CAFTA in operation, China-Brunei has entered a new stage of economic and trade ties, with bilateral trade volume raised from US$13.11 million in 1991 when diplomatic ties was established to US$ 423 million in 2009. By the end of 2009, Brunei has cumulative investment in 1,529 projects in China, with total value standing at US$5.095 billion, pain-in value at US$1.703 billion.
Guangxi and Brunei have strong complementality in resources, industries and markets, especially in agriculture, fishery, port logistics and tourism there are great potential for further cooperation. Since 2009, the bilateral trade between Guangxi and Brunei has grown 84.9% over last year. Brunei has direct investment in Guangxi standing at US$13.89 million, accounting for 58.9% of the total investment made by ASEAN in Guangxi. Guangxi and Brunei have worked hard to cooperate in planting of tropical fruits and vegetable, and offshore breeding, ecological tourism. The project of paddy planting between the two sides has been in full implementation.
The strengthened China-Brunei ties will be conducive to the multi-economy strategy and Pan-Beibu Gulf economic cooperation adopted by Brunei. China will intensify its exchanges with Brunei in the fields of paddy growing, vegetable growing, exchanges of agricultural technology, ocean fishing, seawater breeding and processing, as well as other areas such as petrochemical, tourism, education and information, infrastructure and port logistics, for advancing mutual trade and investment.