PM expects Vietnam, Malaysia to lift bilateral trade to US$15 billion

Prime Minister Nguyen Xuan Phuc welcomes Malaysian Deputy Prime Minister Wan Azizah Wan Ismail (L).

The Vietnamese government leader made the suggestion at a reception in Hanoi on October 25 for Malaysian Deputy Prime Minister Wan Azizah Wan Ismail, currently on an official visit to Vietnam for the third ASEAN Ministerial Meeting on Women (AMMW) and related meetings.

PM Phuc stated that Vietnam always places high importance on its relations with Malaysia and showed his elation at the sound political ties based on mutual trust and shared interests.

Vietnam desires to establish close ties with the new government, as well as the new ruling party and parliament of Malaysia, he said, while calling on both countries to strengthen high-level delegation exchange and hoping to welcome Prime Minister Mahathir Mohamad’s official visit to Vietnam soon.

With regard to considerable progress in the two countries’ relations after 45 years of diplomatic ties, PM Phuc highlighted Malaysia as one of the most effective economic partners of Vietnam in ASEAN with fruitful cooperation in maritime issues, labour, tourism, and education-training.

He said with confidence that Deputy PM and Foreign Minister Pham Binh Minh and Wan Azizah Wan Ismail, during their talks on October 26, will scrutinize practical measures to boost bilateral relations in the time ahead towards extensive Vietnam-Malaysia strategic partnership.

Vietnam wishes to maintain steady exports of rice, farm produce and seafood to Malaysia, he said, and asked the Malaysian Government to support Vietnamese businesses in how to meet Halal food standards and requirements for Muslims.

The country also encourages Malaysian investment projects on high-quality infrastructure, energy, port, logistics, high-tech agriculture, wood and food processing and smart city development.

Cooperation in oil and gas exploration and exploitation is seen as a bright spot in the two countries' relations over the past years, in which Malaysia's Petronas and PetroVietnam's effective cooperation has delivered both economic and strategic benefits to both sides, Phuc added.

The cabinet leader voiced hope that the Malaysian Government will direct relevant authorities to offer favourable conditions for the Vietnamese community in the country, to lead a stable life with ensured legal status and salary.

As both countries share common interests in the region, they need to augment closer cooperation in building an ASEAN Community of solidarity, resilience and development that plays a central role in the regional architecture. In the context of complicated developments in the East Sea, Vietnam, Malaysia and other ASEAN member states should further promote their coordination to adopt a common stance, he emphasized.

Phuc told his guest that the National Assembly of Vietnam is expected to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at its ongoing sixth session and expects Malaysia to work out a plan to pass the trade deal soon.

In reply, the Malaysian Deputy PM said that her nation always sticks importance to the policy of fostering friendship and cooperation with Vietnam and agreed upon both sides' desire to intensify high-level delegation exchange as a contribution to the development of the two countries' strategic partnership.

Regarding the promotion of bilateral economic, trade and investment cooperation, Wan Azizah Wan Ismail expressed her confidence that bilateral trade will be on the upswing in the coming time.

She said that Malaysia is keen to enhance trade links with Vietnam, who holds a highly important role in the region and thanked the Vietnamese Government for facilitating Malaysian businesses’ operations in the country.

As Malaysian PETRONAS Group has made its presence in Vietnam for a long time, she expected that the group will continue receiving support from the Vietnamese Government for its operations as well as for other Malaysia-invested energy projects.

She also proposed both sides should step up maritime and fishery cooperation, noting that her country wants to ensure maritime security, safety, peace and stability in the East Sea.

The Malaysian Government always pays heed to dealing with issues relating to Vietnamese workers in the country, she said.

Concerning the CPTPP ratification, the Deputy PM said immediately after returning home, she will soon report the issue to the Malaysian Prime Minister of Malaysia. She noted with hope that the two countries' relations will grow and flourish in the future.