Diverse events promote Vietnam - Malaysia economic links
VOV.VN - The National Trade Promotion Agency of Malaysia (MATRADE) has unveiled that it plans to organise a series of events in multiple fields throughout the year in order to further promote economic ties between Vietnam and Malaysia.
One of the outstanding events includes the 24th Southeast Asian Healthcare and Pharma Show (SEACare) which is due to run from April 17 to April 19 and the SEMICON South East Asia 2024 expo scheduled for May 28- May 30 to promote technologies in the semiconductor components industry.
Another outstanding event will be the Malaysia International Halal Showcase (MIHAS 2024) which is slated to take place from September 16 to September 20, providing an ideal platform for businesses as they strive to enhance trade connectivity and share expertise on the latest trends and developments in the Halal industry.
Furthermore, there are also online events related to the fields of construction, building materials, professional services, green technology, ecological products and solutions, chemicals, and information technology, as well as transport and logistics.
Rosmizah Mat Jusoh, trade commissioner of MATRADE in Ho Chi Minh City, emphasized that the nation currently represents Malaysia's fourth largest trade partner in the ASEAN region, while Malaysia is also considered to be the third biggest Vietnamese trade partner in the bloc.
By the end of 2023, bilateral trade hit US$11.3 billion, with Malaysia’s top export items to the Vietnamese market including electrical and electronic products at 47.2%, petroleum products at 15.5%, chemical products at 8.9%, metals at 4.4%, and palm oil products at 3.8%.
Meanwhile, major Vietnamese export items to Malaysia are electrical and electronic products at 35.8%; chemical products at 13.2%; iron and steel products at 10.1%; garments, textiles, and footwear at 7.7%; and other agricultural products at 7.3%.
Through trade facilitation under the ASEAN Trade in Goods Agreement (ATIGA), both countries can complement each other and work to increase bilateral trade towards fulfilling the goal of US$18 billion over the coming years.
Promising fields for co-operation among both sides include the Halal industry (Food &Beverage, personal care, cosmetic products), renewable energy, information technology, chemicals, and professional services.
