VN-Malaysia trade value aims US$15 bln by 2020

The statement was made in the article of Vietnamese Ambassador to Malaysia Le Quy Quynh on the occasion of the 45^th anniversary of diplomatic ties (1973-2018). 

Since 1973, the two nations’ relations have been strengthened and upgraded into Strategic Partnership in 2015.  

Malaysia is currently the eighth largest trade partner of Viet Nam, and Viet Nam is the 12th largest trade partner of Malaysia. 

The two-way trade value in 2017 reached US$10 billion, a year-on-year increase of 19.06%, of which Viet Nam exported US$4.2 billion to Malaysia and imported US$5.8 billion from Malaysia. 

Malaysia ranks seventh out of 125 countries and territories investing in Viet Nam. By the end of December 2017, Malaysia had 568 projects with a total registered capital of US$12.18 billion in Viet Nam.

Regarding cooperation in security and defense, 2018 marks the 10th anniversary of the signing of the Memorandum of Understanding on defense cooperation. 

The labor cooperation deal inked in 2015 has been launched effectively, and various student exchange events have been organized. 

Malaysia has been listed among top ten Asian tourism markets of Viet Nam, with some 400,000 arrivals in 2017, accounting for 3.48% of total foreigners travelling to Viet Nam in 2017.

In the multilateral aspect, both nations have built confidence and strong bonds as they are active members of such organizations as well as share a common viewpoint on various issues, such as the ASEAN’s central role in the regional security structure, the full and effective implementation of the Declaration on the Conduct of the Parties in the East Sea (DOC) as well as the early finalization of the Code of Conduct in the East Sea (COC).

The two nations’ relations have been nurtured by their high-ranking leaders more intensively, bringing benefits and prosperity for their people and for the international and regional peace and stability. 

By Hoang Ha