Vietnam & Malaysia target $18 bln in bilateral trade

Vietnam and Malaysia have committed to strive to raise bilateral trade to $18 billion or higher, seeking balance and mutual benefit, in light of their Comprehensive Strategic Partnership, according to Party General Secretary To Lam.

Addressing a joint press conference after talks held with Malaysian Prime Minister Anwar Ibrahim in Putrajaya city on November 21 during his ongoing official visit to Malaysia, Party Chief Lam said the two countries have decided to upgrade bilateral relations to a Comprehensive Strategic Partnership.

They seek to promote links between the two economies through cooperation and mutual complement, exchange information on regulations and policies related to each country’s potential imports and exports, strengthen cooperation to develop the Halal industry, and encourage businesses in one country to expand investment in the other country’s market.

The two sides pledged to deepen cooperation in new areas, such as the green economy, innovation, science and technology, digital transformation, and green energy, and to strengthen their close ties in other important areas, including cooperation in education, training, human resources development, labor, culture, sports, tourism, and people-to-people links, to realize the goal of sustainable development.

Prime Minister Ibrahim said many Malaysian businesses have operated successfully in Vietnam, and proposed that Vietnam continue creating conditions for Malaysian enterprises to invest in the country.