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December 20, 2023

China Encourages More Investment in Brunei

Brunei
December 20, 2023

In a recent meeting between Chinese President Xi Jinping and Brunei’s Sultan Hassanal Bolkiah in San Francisco, both nations expressed their commitment to fostering greater economic relations. President Xi proposed increasing imports from Brunei and encouraging Chinese enterprises to invest in the Southeast Asian country. Areas of cooperation include food security, with both sides pledging to work together on joint maritime development to ensure peace and stability in the South China Sea.

China's proposal to purchase more goods from Brunei aligns with the longstanding economic relationship between the two countries. Despite Brunei having a claim in the South China Sea, it has prioritized economic collaboration over territorial disputes, strategically focusing on expanding the Sultanate's trade ties with China.

In a notable development, Brunei inaugurated its first container shipping link to China, connecting its sole deepwater port, Muara, to Qinzhou in China’s Guangxi Zhuang autonomous region. The service is expected to facilitate the shipping of Bruneian seafood and fruit to Qinzhou, with the transshipment of fruit and vegetables from Guangxi Zhuang in Muara. The seven-day transit time for cargo marks an improvement in trade logistics.

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