Huge potential for boosting ties with Brunei, Myanmar

The aim of his visits, made at the invitation of Hassanal, the Sultan of Brunei, and Myanmar President Thein Sein, is to tighten bilateral ties of friendship and cooperation with these two nations.

Vietnam-Brunei: 20 years of development cooperation

Since Vietnam and Brunei Darussalam established their diplomatic ties in February 1992, both sides have spared no effort to boost multifaceted cooperation, especially in economics, trade, and investment.

Two-way trade between Vietnam and Brunei hit US$204 million in 2011 and US$403 million in the first three quarters of 2012.

Brunei ranks 12 among 129 foreign investors in Vietnam with a total 129 projects worth US$4.9 billion while Vietnam currently has one project in Brunei worth US$650,000.

Regarding defence cooperation, Vietnam and Brunei signed a memorandum of understanding (MOU) on defence cooperation in 2005 and established their defence attaché offices in 2010. They have regularly exchanged military delegations ever since.

Both countries have closely cooperated at multilateral forums such as the ASEAN Regional Forum (ARF), Interpol, ASEANAPOL, the The Association of Southeast Asian Nations Chiefs of Police (ASEANAPOL) and the ASEAN Senior Officials Meeting On Transnational Crime (SOMTC).

There are now about 1,000 Vietnamese labourers working in Brunei. Both countries have signed various cooperation agreements in aviation, trade, and maritime and some MOUs on tourism, defence, and sports cooperations.

Brunei has recently agreed to grant Vietnamese students who wish to study there.

Vietnam-Myanmar: reliable partners in ASEAN

Vietnam and Myanmar set up their diplomatic ties in May 1975 and have regularly exchanged high-ranking delegations ever since.

In the ASEAN bloc, Vietnam-Myanmar relations have paid off well has enjoyed fruitful cooperation with two-way trade reaching US$167 million in 2011 and US$157.4 million in the first nine months of 2012. Vietnam’s total investment in Myanmar hit US$500 million in 2011.

Vietnam’s national flag carrier has opened air routes to Yangon and set up a representative office in the city. Other Vietnamese giant businesses including the Bank for Investment and Development of Vietnam (BIDV), the Viettel Telecom Group, and the Vietnam Oil and Gas Group also have their representative offices in Myanmar.

In 2011, fairs were held in Vietnam and Myanmar to promote trade exchange between the two markets.

A joint statement signed by the two countries in 2010 identified 12 priority areas of cooperation, namely agriculture, industrial production, seafood, banking and finance, aviation, and telecommunications.

Following Prime Minister Nguyen Tan Dung’s visit to Myanmar in December 2011, both countries sign a MOU on cooperation in agriculture and rural development and another one on a BIDV’s non-refundable aid worth US$250,000 for Myanmar’s Ministry of Agriculture.

Sang’s upcoming visits to Brunei and Myanmar will reaffirm Vietnam’s consistent policy of treasuring multifaceted cooperation with the two countries.