Bandar Seri Begawan - Trade between Brunei and China is expected to reach more than US$1.5 billion this year and it will continue to grow.

Mr Zheng Xianglin, the Ambassador of the People's Republic of China, to Brunei Darussalam lauded the growth in trade in a get-together dinner with local media on Wednesday night, which coincided with the first anniversary of his stay in the Sultanate.

"The bilateral trade between Brunei and China is expected to grow, especially with the estimated increase of imported goods from China into Brunei," he said in his speech at the dinner.

Mr Zheng also underlined the importance of Hengyi's investment in Brunei which is worth more than US$4 billion in the first phase - the largest investment outside of China.

He noted that the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam also stressed the importance of the project, whereby it is expected to have more continuing phases after the first.

He added that he expects more cooperation in the future, in the field of oil and gas, as well as in agriculture and tourism.

Mr Zheng also recalled that there were numerous trade missions from China who had visited Brunei to survey the market for any business opportunities.

In cultural and people-to-people exchange, he revealed that there are 23 youth volunteers under the invitation of His Majesty's Government that will be placed under various departments in the government for exchanges and the sharing of knowledge.

The ambassador also revealed that on January 9, 2013, Wang Zhaoguo, the Vice Chairman of the Standing Committee of the National People's Congress of China will be making a visit to Brunei.

--Courtesy of Borneo Bulletin