Bolstering friendship and comprehensive cooperation between Vietnam and Brunei

Wednesday, 2019-03-27 11:39:31
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Party General Secretary and President Nguyen Phu Trong and Sultan Haji Hassanal Bolkiah of Brunei Darussalam inspect the guard of honour during the reception for the guest in Hanoi on March 27. (Photo: DUY LINH)
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NDO – Sultan Haji Hassanal Bolkiah of Brunei Darussalam has arrived Hanoi to begin his State visit to Vietnam at the invitation of Party General Secretary and President Nguyen Phu Trong.

This is the second official visit of Brunei’s Sultan to Vietnam in over 20 years, aiming to strengthen friendly relations and promote both bilateral and multilateral cooperation towards the 30th anniversary of the establishment of diplomatic relations between the two countries (1992-2022). The visit takes place in the context of the Vietnam – Brunei partnership seeing positive developments in many fields, with political trust having been consolidated through regular exchange of delegations and high-level meetings.

Vietnam sincerely congratulates Brunei people for their great achievements in national construction and development over the past years. Brunei’s situation has always been stable in recent times. The country is continuing to accelerate the implementation of ‘Vision 2035’ set by the Sultan, targeting economic development, stable society and improvement of people’s living standards.

Brunei Darrussalam has regained growth momentum for its economy after the recession due to the impact of world oil prices. Its GDP reached 4.2% in 2017 and 2.8% in 2018. The country has made efforts to diversify the economy and reduce its dependence on the oil industry as well as attract more foreign investment and private enterprises in agriculture, forestry, construction, tourism and banking. Brunei has always shared views and supported initiativesof regional and international economic integration and trade liberalisation and is expected to ratify the Comprehensive and Progressive Partnership Agreement (CPTPP) in 2020.

Since the establishment of diplomatic relations in 1992, the Vietnam - Brunei friendship and multifaceted cooperation have been increasingly developed. The two sides have regularly hosteddelegation exchanges and formed several cooperation mechanisms. Economic cooperation, trade and investment between the two countries have seen encouraging developments. In 2018, their bilateral trade turnover reached over US$54 million. The two-way trade turnover was US$43 million in the first two months of this year. Vietnam mainly exported aquatic products and rice to Brunei, while it imported chemicals from the friendly country. The two sides also made dynamic advances on the enhancement of cooperation in infrastructure development, energy, clean agriculture – food processing, construction, and labour. Last year, Lilama Sea Company under the Vietnam Lilama Corporation was licensed to conduct its operation in Brunei with a contract worth nearly US$80 million.

The two countries aim to bring bilateral trade turnover to US$500 million by 2025. Brunei is the fourth largest ASEAN investor to Vietnam with 179 projects worth a total of over US$1 billion. Vietnam now has two investment projects worth US$3.6 million in Brunei. The two sides have also continued to pay strong attention to boosting cooperation in other fields, such as defence, education – training, and marine cooperation.

Vietnam and Brunei have always given each other valuable support as well as shared and supplemented experiences in development and regional and international integration, meeting the needs and potential of each country. The two countries have maintained close relations at regional and international forums, particularly the United Nations, ASEAN, APEC and ASEM. Brunei has always supported Vietnam to participate in many international organisations, including UNESCO the Executive Council of UNESCO for the 2015-2019 term, the UN Economic and Social Council (ECOSOC) for the 2016-2018 period, and also as a non-permanent member of the UN Security Council for the 2020 – 2021 tenure.

Vietnam continues to affirm its Party and State’s foreign policy in an independent, autonomous, peaceful, cooperative and developing manner. The country’s consistent policy is the diversification and multilateralisation of diplomatic ties, including the appreciation and strengthening of friendship and comprehensive cooperation between Vietnam and Brunei.

On the occasion, Vietnam expresses its sincere thanks to the State, Government and people of Brunei for their great support for the national construction and defence of Vietnamese people. May the state visit to Vietnam by Sultan Haji Hassanal Bolkiah of Brunei Darussalam be a success, creating a driving force to constantly develop the friendship and comprehensive cooperation between the two countries, for the happiness and prosperity of the two peoples as well as for the peace, stability, cooperation and development in the region and the world.

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