Brunei And Thailand Enhance Trade Ties To Supply Rice And Sugar

Bandar Seri Begawan - Brunei and Thailand have further boosted trade relations.

This is evident in the setting up of a joint venture in ensuring the long-term security supplies of rice and sugar from Thailand, reports Radio Television Brunei.

The agreement for the setting up of Brusiam Food Alliance Company in Thailand was signed today between the Brunei government Chia Meng Company of Thailand.

Signing on behalf of the Brunei government was the Permanent Secretary at the Finance Ministry, Dato Haji Abdul Rahman while the President of Chia Meng Group, Dr Taval Manathanya, represented Thailand.

The event also coincided with the signing of two sales and purchase agreements between the Chia Meng Company and Brusiam Food Alliance. Its president represented the Chia Meng Company whilst the Director of Information Technology at the State Stores, Awang Haji Mahmud'bin Haji Mohamad Daud signed on behalf of Brusiam Food Alliance.

The second sales and purchase agreement was signed between the government of His Majesty and Brusiam Food Alliance company limited. The deputy minister of finance, Dato Paduka Haji Vakub and the deputy prime minister of Thailand, Mr Korn Dabbaransi, witnessed the events.

Both the sales and purchase agreements signed today will replace the existing rice-and sugar contracts between Brunei government and the Department of Foreign Trade and Public Warehouse Organization in Thailand.

Last year alone, Brunei imported more than 26,000 tons of rice and 7,000 tons of sugar.

The agreement was the result of intensive discussions between the government and Chia Meng company over the last few months, following the signing of men1owdum of understanding on the 27th of August last year between His Majesty's government and Chai Meng group during the state visit of his Majesty to the kingdom of Thailand.

The joint venture will now allow both parties to move forward together and jointly develop business opportunities in other countries.  -- Courtesy of Radio Television Brunei

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