Vietnam, Brunei target $500 mln two-way trade by 2025

Vietnam and Brunei committed to lifting two-way trade to 500 million USD by 2025 at the first meeting of their Joint Commission for Bilateral Cooperation in Hanoi on February 27.



Deputy Prime Minister and Foreign Minister Pham Binh Minh (R) and Brunei’s Minister at the Prime Minister’s Office and Second Minister of Foreign Affairs and Trade Lim Jock Seng 
 

The meeting was co-chaired by Deputy Prime Minister and Foreign Minister Pham Binh Minh and Brunei’s Minister at the Prime Minister’s Office and Second Minister of Foreign Affairs and Trade Lim Jock Seng. 

Both sides expressed their satisfaction with the development of Vietnam-Brunei friendship and comprehensive cooperation since the establishment of bilateral diplomatic ties 25 years ago (February 29) and spoke highly of the outcomes of President Tran Dai Quang’s visit to Brunei last August. 

They agreed to continue facilitating all-level visits and people-to-people exchange to raise mutual understanding and trust. 

Lim informed Minh that the Sultan of Brunei will attend the Asia-Pacific Economic Cooperation (APEC) Summit to be held in the central city of Da Nang this year. 

The two sides proposed measures to enhance partnership across the fields of economy-trade-investment, national defence-security, oil and gas, agro-fisheries, culture-tourism, education-training, and labour. 

They concurred with promoting experience sharing via seminars, investment, trade connectivity as well as extend joint work to survey, exploit, process and distribute oil and gas. 

Minh asked the Brunei side to assist Vietnam in training and recognise Halal certification agencies in Vietnam. 

On defence-security, the two countries will continue extensively implementing existing agreements and mechanisms while expanding ties among armed forces, especially between the navy and coast guards and broadening collaboration in search and rescue at sea, training, and the fight against terrorism and drug. 

Both sides pledged to consider signing agreements on fighting trans-national crimes, judicial assistance in criminal matters, extradition and transfer of sentenced persons. 

Minh highly valued Brunei’s settlement of fishermen issue over the past time. The Brunei Minister thanked Vietnamese experts for helping Brunei with rice cultivation and agro-fisheries and vowed to direct concerned agencies to discuss how to enhance bilateral labour cooperation. 

The two ministers debated the organisation of seminars, exchange of delegations, culture and arts and people-to-people exchange to introduce respective traditional culture and people on the occasion of the 25th anniversary of bilateral diplomatic ties. 

They promised to continue mutual support at regional and global forums, especially in ASEAN and the United Nations, maintaining ASEAN’s central role in the regional security architecture as well as intensifying ASEAN ties with dialogue countries, including ASEAN-China ties. 

They committed to the maintenance and promotion of peace, security, stability, maritime and aviation safety and freedom in the East Sea, urging parties concerned to exercise restraint and refrain from the threat of force or use of force, fully respect diplomatic and legal process, settle disputes by peaceful means in line with basic principles of international law, including the 1982 United Nations Convention on the Law of the Sea. 

Both sides reaffirmed their support to the full and effective implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) and the early formulation of a Code of Conduct in the East Sea (COC). 

Brunei supports Vietnam’s successful organisation of the APEC Summit 2017, Lim affirmed. 

The second meeting of this kind is scheduled for 2019 in Brunei. 

In the afternoon the same day, Lim paid a courtesy call to Prime Minister Nguyen Xuan Phuc.

Vietnam willing to help Brunei ensure food security: Prime Minister

Vietnam is ready to provide rice for Brunei in a long-term and stable manner to help the latter ensure food security, Prime Minister Nguyen Xuan Phuc told a Brunei official.


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Prime Minister Nguyen Xuan Phuc (R) receives Brunei’s Second Minister of Ministry of Foreign Affairs and Trade Lim Jock Seng


He made the remark on February 27 while receiving Brunei’s Second Minister of Ministry of Foreign Affairs and Trade Lim Jock Seng, who is in Hanoi to attend the first meeting of the countries’ committee for bilateral cooperation.

Highlighting the sound development of the bilateral friendship and cooperation, the Government leader said Vietnam looks forward to an official visit by the Sultan of Brunei on the occasion of the APEC Economic Leaders’ Meeting slated for November. He described the trip as a milestone in the 25th founding anniversary of the two nations’ diplomatic relationship this year.

PM Phuc urged the Vietnamese and Brunei Governments, ministries and sectors to work out measures to bring two-way trade on par with its potential.

Vietnam welcomes Brunei’s investment in infrastructure development, public-private partnership projects, energy, services, tourism, agriculture, and food processing for export in Vietnam, he noted.

He asked Brunei to provide favourable conditions for subsidiaries of the Vietnam National Oil and Gas Group to take part in projects on oil and gas exploration and extraction as well as supplying high-quality petroleum services in the country since this is the field which both sides have strength and potential.

Vietnam is willing to share experience and send its experts to carry out agro-fishery cooperation, he said, adding that he hopes energy and agriculture ministers of Brunei will visit his country in the near future to discuss concrete cooperation directions.

Noting Vietnam’s potential of agricultural development, the Government leader said the country has assisted Cuba and many African nations to cultivate wet rice, and it wants to help Brunei in this field. 

He stressed the two countries share many viewpoints, including building the East Sea into a region of peace, cooperation and friendship. So they should continue supporting each other at regional and international forums. 

Vietnam will remain the close coordination with Brunei and other ASEAN nations to promote consensus in the issue of regional security, the PM added.

For his part, Minister Lim Jock Seng conveyed the Brunei Sultan’s saying that he will attend the APEC Economic Leaders’ Meeting in November.

He also informed his host about the outcomes of his talks with Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh, elaborating that the two sides discussed many measures to bolster the bilateral relations.

The Brunei ministers in charge of energy and agriculture are also interested in cooperation in these areas with Vietnam and want to visit the country to look into concrete cooperation measures, he said.

He added his Sultan pays special attention to food security and wishes to enhance collaboration with Vietnam in this sphere.

Vietnam-Brunei joint commission’s meeting hailed



At the Vietnam-Brunei Joint Commission for Bilateral Cooperation's meeting 


Deputy Minister of Industry and Trade Do Thang Hai lauded the outcomes of the first meeting of the Vietnam-Brunei Joint Commission for Bilateral Cooperation during a meeting in Hanoi on February 27 with Brunei Minister at Prime Minister’s Office and Second Minister of Foreign Affairs and Trade Lim Jock Seng. 

Lim is in Vietnam to co-chair the meeting with Deputy Prime Minister and Foreign Minister Pham Binh Minh which was held the same day on the occasion of the 25th anniversary of bilateral diplomatic ties. 

Reviewing bilateral economic and trade ties over the past years, they said two-way trade hit 97.7 million USD last year, up 32.6 year-on-year, and discussed the possibility of enhancing links in trade and oil and gas, among others. 

Hai suggested facilitating all-level visits, especially those by businesses and working closely together to realise a Memorandum of Understanding (MoU) on trade and industry cooperation signed by Minister of Industry and Trade Tran Tuan Anh and Minister Lim Jock Seng last August. 

Both sides need to hold trade and investment promotion activities, he said, asking Brunei to provide support for the two countries’ oil and gas firms to enhance partnership, including the Vietnam National Oil and Gas Group (PetroVietnam) and the Brunei National Petroleum Company (Petroleum Brunei) in oil and gas projects in each country and the third country. 

The host requested Brunei to assist Vietnam in personnel training and improve the capacity of Halal certification and management agencies, and businesses in the country. 

The Vietnamese Ministry of Industry and Trade and the Brunei Ministry of Foreign Affairs and Trade must exert more efforts to achieve the goal of 500 million USD in two-way trade by 2025 as set by leaders, he said. 

Lim also agreed with the host’s proposals. 

Discussing the role of the ASEAN Economic Community in each country’s economy and trade, both sides agreed to strengthen internal trade and tap the potential of major economies in the bloc to ease reliance on outside partners.  

Both sides also discussed bilateral ties within the Asia-Pacific Economic Cooperation (APEC) framework. Lim congratulated Vietnam on hosting APEC 2017, saying that Brunei will offer all possible support to Vietnam during the process.

VNA

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