Brunei-China inaugurate milestone maritime trade route

10 Jul '23

1 min read

Pic: Shutterstock/hkhtt hj

Insights

Brunei launched its first shipping route with China, linking the deep-water Muara Port with China's Beibu Gulf Port.
The new route aims to spur economic growth and catalyse trade within the BIMP-EAGA region.
The initiative, a step forward in China-BIMP-EAGA cooperation, also enhances the construction of the New International Land-Sea Trade Corridor.

Brunei has inaugurated a container shipping route between its deep-water port, Muara, and China’s Beibu Gulf Port in the Guangxi Zhuang Autonomous Region. This marks the first shipping route of its kind between the Southeast Asian nation and China.

Haji Mohd Amin Liew, Brunei’s minister of finance and economy, expressed during the ceremony that this new maritime line is key to the economic growth of Brunei. The route is expected to catalyse trade within the Brunei Darussalam-Indonesia-Malaysia-Philippines East Association of Southeast Asian Nations (ASEAN) Growth Area (BIMP-EAGA) by simplifying imports and exports, as well as opening fresh markets.

“In February 2017, Guangxi Beibu Gulf International Port Group Company Ltd and Brunei’s Darussalam Assets formed a joint venture company to operate the Muara Port container terminal, injecting new vitality into the port,” Xiao Jianguo, Chinese ambassador to Brunei, was quoted as saying by Chinese media reports.

Cai Lixin, the visiting vice governor of Guangxi, remarked that this development is a pivotal step towards enhancing cooperation between China and the BIMP-EAGA region. It also furthers the construction of the New International Land-Sea Trade Corridor.

The establishment of the new route is viewed as significant for trade and economic collaboration between Brunei and China.

ALCHEMPro News Desk (NB)

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