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Malaysia, Vietnam set target of achieving bilateral trade of US$18 bln by 2025

Malaysia, Vietnam set target of achieving bilateral trade of US$18 bln by 2025

15 Nov 2021

The 6th Joint Commission Meeting (6th JCM) held between Malaysia and Vietnam today adopted the Plan of Action (POA) 2021-2025 which, among others, set a target of achieving total bilateral trade of US$18 billion by 2025.

The virtual meeting, co-chaired by Malaysian Minister of Foreign Affairs Datuk Saifuddin Abdullah and his counterpart Bui Thanh Son, paved the way for the enhancement of bilateral cooperation and reinvigorate Malaysia-Vietnam ties affected by the COVID-19 pandemic.

“Towards achieving this target (US$18 billion by 2025), Malaysia and Vietnam looked forward to increasing two-way investments and encouraged expansive business-to-business ventures,” said the statement issued by the Malaysian Ministry of Foreign Affairs.

The statement said both leaders had a fruitful discussion and extensive exchange of views on a wide range of bilateral and international issues.

“Both sides reaffirmed their commitments to further strengthening bilateral cooperation, including among others post COVID-19 recovery, reopening of borders, vaccine development as well as the Halal industry,” it said, adding the meeting was held in a warm and cordial atmosphere, reflecting the longstanding close relations between the two countries.

Source: Bernama