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resilience of regional production and
supply chains, and promote post-
epidemic recovery.
She said that China is willing to work
with Brunei to strengthen regional
cooperation, promote the continuous
development of the Brunei-China
strategic cooperative partnership, and
open a new chapter of Brunei-China
economic and trade cooperation.
The forum also saw Deputy Minister
of Finance and Economy (Economy)
Dato Seri Paduka Haji Khairuddin bin
Haji Abdul Hamid note that the friendly
relationship between China and Brunei
has a long history. Increased investments
from China and enhanced bilateral
trade in mutual areas of interest have
contributed to the development and
transformation of Brunei’s economy.
In 2021, total trade between Brunei and
China grew by 56 per cent compared
to the previous year, accounting for
15 per cent of Brunei’s foreign trade,
making China the second largest
trading partner and largest source
of foreign investment in Brunei. The
Sultanate is renowned for its stable
business and natural environment.
To diversify its economy, he added,
“Brunei encourages foreign investment
in
aquaculture
and
agriculture
industries, downstream oil and gas
industries, food industry, information
and communication technology and
tourism industry.”
The deputy minister also welcomed
more Chinese companies to invest
in Brunei to further expand bilateral
economic and trade cooperation
and help to achieve inclusive and
sustainable economic growth.
In addition, President of Brunei-
China
One
Belt
One
Road
Association
Jackson
Ting
has
highlighted that there are six
success factors for the continuous
development
of
Brunei-China
economic and trade cooperation:
political
stability, geographical
advantage, mutual
respect
and
trust, efficient logistical, financial
and legal infrastructure, capable
human resources and contributions
of local community.