Sweet Chili Sauce

1 red bell pepper, finely chopped
1 shallot, minced
1 red jalapeno or other small red chili, seeded & minced
1 clove garlic, minced
1 c water
1/2 c honey
2 T soy sauce

Combine all ingredients in a saucepan; bring to a boil. Simmer over moderate heat, stirring occasionally, till the sauce is thickened slightly & syrupy, about 20 minutes. Serve at room temp. Sauce can be refrigerated and kept for up to 1 week. Makes 2 cups.