Vietnam, Malaysia enjoy thriving relations
Petronas Twin Tower in Kuala Lumpur, Malaysia (Photo: Xinhua/VNA)
In his writing to look back on 45 years of the bilateral diplomatic relations, Quynh stressed that the relations between the two countries become more special after both sides lifted the relations to strategic partnership in 2015.
Regarding politics, regular exchanges at all levels have been promoted while cooperative mechanisms prioritised and maintained through generations of leaders.
Malaysia’s new government and Prime Minister Mahathir Mohamad attach much importance to the relations with Vietnam, and the Malaysian Government leader will pay an official visit to Vietnam and attend the World Economic Forum on ASEAN (WEF ASEAN) in September, the diplomat said.
Both countries have seen robust signs in trade and investment relations as well as found huge potential for further cooperation. Malaysia is currently the 8th largest trade partner of Vietnam, and Vietnam is the 12th largest trade partner of Malaysia.
Two-way trade in 2017 topped US$10 billion, a year-on-year increase of 19.06 percent, of which Vietnam exported US$4.2 billion worth of products to Malaysia and imported goods worth over US$5.8 billion from Malaysian. Both sides are striving to increase trade value to US$15 billion by 2020 under the Vietnam-Malaysia Action Plan in 2017-2019.
Malaysia ranks 7th out of 125 countries and territories investing in Vietnam. By the end of December 2017, the country had 568 projects with a total registered capital of US$12.18 billion in Vietnam.
The two countries have been interested in bolstering collaboration in security and defence. Particularly, 2018 marks the 10th anniversary of the signing of the Memorandum of Understanding on defence cooperation.
They continue enhancing information exchange, working to prevent piracy, as well as promoting search and rescue efforts, and assisting Vietnamese vessels in distress.
Also, fruitful cooperation has been recorded in labour, education and tourism, with the effective implementation of the labour cooperation deal inked in 2015, and various student exchange events.
There are more and more tourists travelling between the two nations. Malaysia has been in the top 10 Asian tourism markets of Vietnam, with some 400,000 arrivals in 2017, accounting for 3.48 percent of total foreigners spending holidays in the country in the year.
In the multilateral aspect, both nations have built confidence and strong bonds as they are active members of such organisations as the Association of Southeast Asian Nations (ASEAN), the Asian-Pacific Economic Cooperation Forum (APEC), the United Nations (UN), the Regional Comprehensive Economic Partnership (RCEP), and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
They 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 finalisation of the Code of Conduct in the East Sea (COC).
Ambassdor Quynh reaffirmed that the bilateral ties have always been nurtured by generations of leaders of both sides, bringing benefits to the two peoples for the sake of regional and global peace and stability.
Related News
Ho Chi Minh City: Enterprises overcome difficulties, exports lead the country
14:58 | 10/05/2024 Import-Export
What to do to develop Vietnam's creative economy?
10:06 | 11/05/2024 Headlines
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Wood exports started well
13:26 | 20/04/2024 Import-Export
Latest News
Business conditions numerous and cumbersome: CIEM
14:46 | 14/05/2024 Headlines
Prime Minister chairs seminar with Chinese businesses
14:38 | 14/05/2024 Headlines
Vietnam charts vision for sustainable, modern fisheries
19:26 | 13/05/2024 Headlines
Vietnam becomes fastest growing digital economy in ASEAN: HSBC
17:02 | 13/05/2024 Headlines
More News
Maintain fiscal policy to "open the way" for the economy in 2024
13:31 | 13/05/2024 Headlines
Key economic pillars show positive growth
17:54 | 12/05/2024 Headlines
Human resources training takes centre stage to develop e-commerce
17:52 | 12/05/2024 Headlines
High-quality human resources: "Hold the gold, don't let it fall"
08:18 | 12/05/2024 Headlines
Vietnam needs drastic reforms for economic growth: experts
17:49 | 11/05/2024 Headlines
Key economic pillars show positive growth
17:48 | 11/05/2024 Headlines
Vietnam, UK deepen strategic partnership
17:46 | 11/05/2024 Headlines
US Department of Commerce holds hearing on designating VN as a market economy
14:53 | 10/05/2024 Headlines
Vietnam eyes contingent of competent entrepreneurs
14:50 | 10/05/2024 Headlines
Your care
Business conditions numerous and cumbersome: CIEM
14:46 | 14/05/2024 Headlines
Prime Minister chairs seminar with Chinese businesses
14:38 | 14/05/2024 Headlines
Vietnam charts vision for sustainable, modern fisheries
19:26 | 13/05/2024 Headlines
Vietnam becomes fastest growing digital economy in ASEAN: HSBC
17:02 | 13/05/2024 Headlines
Maintain fiscal policy to "open the way" for the economy in 2024
13:31 | 13/05/2024 Headlines