Vietnam Eyes Boost In Bilateral Trade & Tourism
By Azlan Othman

Bandar Seri Begawan - Vietnam's Ambassador to Brunei is keen for wider bilateral cooperation in trade, tourism and education.

Speaking to the Bulletin on the eve of the 15' anniversary of the establishment of diplomatic relations between the two countries (Feb 29, 1992 to Feb 28, 2007), Mr Ha Hong Hai said as of October 2006, Brunei has 26 foreign direct investment (FDI) projects in Vietnam with registered capital of US$ 76.36 million.

In 2006 alone, it had 11 projects with US$ 39.92 million in registered capital. The FDIs were in areas like manufacturing (in ceramics, tiling and glass) as well as financial sectors like insurance.

Asked about future cooperation, he said both countries could expand cooperation and exchange experiences in areas like oil and gas which both are rich in. He said an MoU is in the offing between Brunei National Petroleum Co Sdn Bhd and Vietnam Petro.

Stronger and more concrete measures are to be taken to enhance bilateral relations in all realms such as organisation of trade fairs and exhibitions. He added that both countries have long coasts and share the same sea. Vietnam's fisheries industry is very developed and the two countries could cooperate in this area.

He also highlighted the exchange of teachers and students between the countries' universities as potential areas. Bruneian teachers could teach English to Vietnamese students, while Vietnamese teachers could teach mathematics.

On trade, Mr Ha said trade between the two countries is still very modest and does not yet commensurate with bilateral political ties. It stands at around US$3 million in Vietnam's favour.

"However, it was increased to some extent last year due to the direct air links between Bandar Seri Begawan and Ho Chi Minh City. Vietnam's exports to Brunei include textile, fruits, vegetables, groundnuts, handicrafts, ceramics, chemicals (batteries), tires and equipment, while Vietnam imports from Brunei are petroleum equipment, floor carpets and so on."

An increasing number of Bruneian business people have travelled to Vietnam particularly Ho Chi Minh City to set

up representative offices and import Vietnamese products. More and more Vietnamese business people have also come to Brunei to explore the local markets for their exports and imports.

On tourism, he said the number of Bruneians travelling to Vietnam tripled last year as compared to 2005, citing the launch of the RBA flights to Vietnam last year. More Bruneians now find Ho Chi Minh City an interesting place for shopping and sightseeing. There was a number of travel tours organised for Vietnamese to visit Brunei as nowadays more Vietnamese can afford to travel abroad.

He also said that artists and cultural performance groups have visited both countries and performed for the public. The two countries cooperate in this area within the Asean framework.

He added that in the political sphere, Brunei and Vietnam are actively cooperating in regional and international forums such as Asean, ARF, Apec, ASEM and UN.

Touching on the significant milestones achieved during the 15-year period, Mr Ha said His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam paid an official visit to Vietnam in May 1998 and attended the Asean Summit in December 1998, ASEM in October 2004 and Apec in November 2006.

His Royal Highness Prince Haji A1-Muhtadee Billah, the Crown Prince and Senior Minister at the Prime Minister's Office, visited Vietnam in March 2006 and attended the 22,d SEA Games in December 2003.

HRH Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade, visited Vietnam in April 1999 and attended various regional and international conferences in Vietnam.

Meanwhile, Vietnam's President Tran Due Luong paid an official visit to Brunei in November 2001 and attended the Apec summit in Brunei in 2000. Prime Minister Phan Van Khai attended the Asean Summit in November 2001.

Prime Minister Vo Van Kiet visited Brunei in 1992, leading to the signing of the agreement on establishment of diplomatic relations between the two countries on Feb 29, 1992. Foreign Minister Nguyen Dy Nien visited Brunei in 2000 and attended the Asean Ministerial Meeting in August 2002. -- Courtesy of Borneo Bulletin

Related News: Royalty Lauds Ties With Vietnam | Sultan Receives Congratulatory Messages From Vietnamese Leaders

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