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Bilateral trade turnover between Vietnam and Malaysia expected to reach $18 billion

Vietnam and Malaysia pledged to double efforts to soon raise bilateral trade turnover to $18 billion in a balanced manner and promptly sign a cooperation agreement in the field of Halal food in the coming time, the Government News has reported.

The pledge was made at a meeting between National Assembly (NA) Vice Chairman Nguyen Khac Dinh and Malaysian Deputy Prime Minister Haji Fadillah bin Haji Yusof in Kuala Lumpur on August 7, during the former’s working visit to Malaysia from August 6-9.

NA Vice Chairman Dinh proposed the two sides finalize negotiations and sign other important agreements on defense, security, and education, thus creating a foundation and framework for broader cooperation between the two countries, towards further promoting and deepening the Vietnam-Malaysia Strategic Partnership.

He also suggested the two countries consolidate their understanding and solidarity by promoting cooperation programs on human resources training and development in the fields that the two sides have strength, and creating favorable conditions for citizens of each country.

Deputy PM Yusof, for his part, said that there remains abundant potential for the two countries to cooperate in the Halal food sector.

The host leader proposed Vietnam establish an agency for Halal food, which could refer to Malaysia's standards, models, and production processes of Halal food.

The Malaysian Deputy PM highly spoke of Vietnam's great potential for developing green energy, adding that the two countries can expand bilateral cooperation as well as partnership within ASEAN.

Vietnam is Malaysia's only strategic partner in ASEAN; while Malaysia is currently the second-largest trade partner of Vietnam in ASEAN and the 11th in the world.

The relationship between the two countries’ legislative bodies continues to be strengthened both bilaterally and multilaterally, contributing to promoting the bilateral relations.

Last year, the two countries jointly celebrated the 50th anniversary of their diplomatic ties.

Source: VnEconomy