Manila, Feb. 18 (CNA) Bilateral trade between Taiwan and Brunei in 2011 reached a new high of US$80 million, according to a reportpublished by the Taipei Economic Cultural Office in Brunei recently.

Trade between the two countries grew by 117 percent in 2011 compared with the same period in 2010, the report stated.

Brunei enjoyed a trade surplus last year, with exports to Taiwan reaching US$41 million and imports from Taiwan amounting to US$39 million, the report added.

In the report, Taiwan's representative in Brunei, Terry Ting, attributed the surging trade to increased trust between the two countries.

Brunei's good infrastructure, stable politics and geographical location make it ideal for foreign investors, Ting said, adding that Taiwan businesses are even considering to invest in the country's downstream industries, such as liquified natural gas and agriculture.

Taiwan mainly imports methanol from Brunei and exports high technology products, agricultural machinery, car components, solar panels, and LCD or LED panels to the country, according to the report. (By Emerson Lin and C.J. Lin)