The visit, which reciprocates the Prince’s visit to Vietnam in March 2006, aims to affirm Vietnam’s policy of developing friendly and multifaceted cooperation with neighbouring countries, including Brunei. During the visit, the two sides will discuss measures to boost bilateral cooperation, particularly in economics, trade and investment.
Relations between Vietnam and Brunei have developed well, especially in politics, since the two countries established their diplomatic ties in 1992 and particularly since Vietnam joined the Association of Southeast Asian Nations (ASEAN) in 1995.
However, bilateral trade value remains modest, fetching around US$4-5 million annually. By February 2007, Brunei had 28 operational projects in Vietnam with a total registered capital of US$90.8 million.
The two countries have established a mechanism for meetings of their Joint Committee to boost cooperation in economics, trade and investment, and are actively carrying out other projects in the fields of labour, education, culture, tourism and sports.
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