I know we'll be friends for a long time.
Meaning: This sentence means that the speaker is confident that their friendship with their new friend will last for a long time.
Choice of Words: Know means to be aware of or understand something. We'll is a contraction of the words "we will". Friends means people who know and like each other and who enjoy each other's company. Long means having a great extent of space or time. Time means a period during which something happens or exists.
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Related Expressions