Brunei, China to strengthen trade cooperation

BANDAR SERI BEGAWAN -- Brunei-China Friendship Association (BCFA) signed here on Thursday a cooperation agreement with China Foreign Trade Center (CFTC) in light of the common interest on the part of both parties in developing mutually beneficial cooperation.

Signing for BCFA was its president Dr. Hj Kamaruddin, while Xu Bing, vice director general of CFTC signed on the other end.

Both parties will make contributions to strengthening ties between businesses in China and BCFA in their respective fields and also to strengthening cooperation between Chinese and BCFA business institutions, with public promotion, mutual visits, trade fair and exposition, business travel and consultancy as major instruments for achieving the above-mentioned purpose.

According to the agreement, BCFA agrees to, firstly, facilitate promotion for the China Import and Export Fair (CIEF or Canton Fair), with BCFA's relevant resources, that included its website and public relations resources.

Secondly, BCFA will require providing reports on a regular basis to CIEF on business information of local market, which includes but not is limited to local market situation, local buyer information, demand and feedback for the benefit of CIEF.

Thirdly, BCFA will encourage local enterprises and organize delegations to exhibit at CIEF or other fairs organized by CFTC according to the information provided by CFTC.

BCFA shall also offer assistance to the CFTC's visiting delegation in facilitating its promotional activities to attract prospective buyers and exhibitors, such as arranging business activities with local government and business institutions and arranging the venue, and associated cost will be borne by CFTC and assist in the marketing research and performance review by CIEF on the cooperative partners, and offer suggestions and advice for the cooperation.

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