Vietnam, Malaysia should lift bilateral trade to 20 billion USD by 2025: President

Update: 13:08 | 21/01/2022

President Nguyen Xuan Phuc said he wants Vietnam and Malaysia to lift bilateral trade to 20 billion USD by 2025 during a reception for outgoing Ambassador of Malaysia to Vietnam Dato Sharifah Norhana Syed Mustaffa on January 20 afternoon.

Phuc highly regarded the Malaysian diplomat for her outstanding contributions to promoting the strategic partnership between the two countries during her mission in Vietnam. Vietnam and Malaysia have boasted effective partnership at regional and global forums thanks to her efforts to strengthen information exchange between the two sides, he said.

Vietnam, Malaysia, lift bilateral trade, 20 billion USD, President Nguyen Xuan Phuc, Malaysian diplomat, outstanding contributions

President Nguyen Xuan Phuc and outgoing Malaysian Ambassador Dato Sharifah Norhana Syed Mustaffa.

He highlighted that the bilateral ties have grown constantly in various fields despite Covid-19 challenges, with two-way trade reaching 12.5 billion USD in 2021, up 25.5 percent from the previous year.

There is plenty of room for bilateral trade and investment to thrive, the President noted.

He expected Malaysia to facilitate imports of Vietnamese goods, especially agricultural and Halal products as well as cooperation in education, tourism and labour, and mutual recognition of each other’s vaccine passport; and recover post-pandemic cooperation outlined in the Action Plan for the 2021-2025 period.

Phuc also asked the two sides to coordinate more closely so they can work together with other ASEAN member states to promote the bloc’s unity, common voice and centrality in ensuring peace, security and stability in the East Sea, promote the implementation of the Declaration on the Conduct of Parties in the East Sea/South China Sea (DOC) and negotiate for an effective and practical Code of Conduct for the East Sea/South China Sea (COC) in line with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).

For her part, Ambassador Dato Sharifah Norhana Syed Mustaffa described Vietnam as a fast-growing economy and one of the most successful emerging markets. She hoped that Vietnam and Malaysia will advance their relations to a new height, particularly in trade and investment.

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Source: NDO/VNA

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