During talks after Mr Dung’s arrival in Brunei on August 15, the two leaders expressed their delight at the positive developments of the time-honoured friendship and multifaceted cooperation between the two countries in recent times. They agreed to promote the exchange of high-level visits by ministries and sectors and accelerate the organisation of the first session of the Vietnam-Brunei Joint Committee. However, host and guest said that two-way trade value of US$4.5 million recorded in 2005 was incommensurate with both countries’ potential and fine political relations. Therefore, it is imperative to strengthen bilateral cooperation in economics, trade and investment by intensifying trade promotion activities, organising fairs and seminars to introduce economic potential of each respective country.

They agreed that bilateral cooperation in the oil and gas field is promising as it is one of Brunei’s strengths.

For its part, Vietnam will create favarouable conditions for Brunei businesses to invest effectively in infrastructure construction, industrial parks, hotels and tourism. Mr Dung said the two sides should promote labour cooperation to make effective use of Vietnamese abundant workforce while meeting Brunei’s great demand for guest workers, Mr Dung added.

The two leaders expressed their pleasure at the signing of an agreement on double tax avoidance, a Memorandum of Understanding on cooperation in sports and youth and a Memorandum of Understanding on oil and gas cooperation with the aim of creating a favourable legal foundation for the promotion of bilateral cooperation in trade, oil and gas and sports and physical training.

During talks, they compared notes on a number of regional and international issues of common concern and appreciated the effective cooperation between the two countries within the frameworks of the United Nations, ASEAN, the ASEAN Regional Forum (ARF), the East-Asia Region, the Asia-Pacific Cooperation Forum (APEC) and the Asia-Europe Meeting (ASEM).

On this occasion, PM Dung conveyed an invitation to visit Vietnam from State President Nguyen to Brunei’s Sultan, Sultana and other royal members. His invitation was accepted with pleasure.