Government leaders agree on US$20 billion trade target for Vietnam-Malaysia partnership

VOV.VN - Prime Minister Pham Minh Chinh and his Malaysian counterpart Anwar Ibrahim expressed their determination to raise bilateral trade to US$20 billion by 2030, in a more balanced and sustainable manner, during their talks held in Kuala Lumpur on May 25.

At the talks, Prime Minister Anwar Ibrahim extended his heartfelt condolences to the State and people of Vietnam over the passing of former President Tran Duc Luong.

For his part, PM Chinh affirmed that Vietnam always values and seeks to strengthen its traditional friendship and comprehensive cooperation with Malaysia.

He emphasized that the visit by the Malaysian PM adds fresh impetus to deepening the countries’ comprehensive strategic partnership, especially as both sides have just agreed to finalize the Action Program for the 2025–2030 period. The visit sends a strong message of the two nations’ shared determination to pursue resilient, sustainable development and make active contributions to peace, stability, and progress in the region.

The two PMs expressed satisfaction with the progress of bilateral ties in recent years, especially since the upgrade to a comprehensive strategic partnership in November 2024. Political and diplomatic relations have grown stronger, while economic, trade, and investment cooperation has emerged as a highlight of the relationship. Bilateral trade reached US$14.2 billion in 2024, and Malaysia remains among Vietnam’s top ten foreign investors, with total registered capital exceeding US$13 billion.

Both sides also noted positive developments in cooperation in defence and security, energy, education and training, science and technology, tourism, labor, and people-to-people exchanges. On this occasion, Vietnam National University, Hanoi and Vietnam National University, Ho Chi Minh City signed cooperation agreements with the National University of Malaysia.

Regarding future cooperation, the two sides agreed to continue intensifying delegation exchange and high-level as well as all-level contacts across all channels. They plan to establish a flexible annual dialogue mechanism between senior leaders of the two countries, further enhance the effectiveness of existing bilateral cooperation frameworks, and limit the use of trade barriers. Both sides committed to facilitating the import and export of potential and complementary goods, such as agricultural and aquatic products, food, electronic components, and building materials. Cooperation will also be expanded into new areas including the digital economy, circular economy, and green economy.

PM Chinh affirmed Vietnam’s readiness to provide Malaysia with a stable and long-term supply of rice, and proposed that Malaysia support Vietnam in developing its Halal industry and move toward the early signing of a cooperation document in this field.

They also consented to ramp up cooperation in national defence and security, and to speed up the signing of relevant agreements. They discussed boosting cooperation in defence industry and training, and establishing cooperation mechanisms between the two countries’ naval, air, and coast guard forces. Both sides pledged joint efforts in combating terrorism and transnational crimes, enhancing coordination against terrorist and reactionary organizations, and underscored that no individual or organization would be allowed to use one country’s territory to act against the other.

Host and guest stressed the importance of maritime cooperation and ocean affairs. They considered establishing a consultation mechanism on maritime issues and a hotline to combat illegal, unreported and unregulated (IUU) fishing, with Malaysia pledging to support Vietnam in lifting the European Commission’s yellow card on its fisheries sector.

The two PMs concurred to continue advancing cooperation in other areas. They will consider the early signing of new agreements on aviation and tourism, increase flight frequency, and enhance collaboration in education, training, labor, agriculture, culture, and sports.

PM Chinh expressed appreciation and called on Malaysia to continue facilitating stable and long-term living, working, and studying conditions for the Vietnamese community in the country. He also requested further support for the Malaysia–Vietnam Friendship Association to operate effectively and contribute to strengthening people-to-people ties between the two nations.

During the talks, both leaders also discussed ways to further strengthen the effectiveness of comprehensive cooperation between the two countries.

PM Chinh said that the visit by the Malaysian government leader carries great significance, not only as a continuation of close neighborly ties but also as a new milestone, opening up a new vision for the Vietnam–Malaysia comprehensive strategic partnership.

“The partnership has achieved many positive results. The visit by Party General Secretary To Lam and this official trip both reaffirm the strong commitment of both sides to resilient, sustainable cooperation that contributes to peace and stability in the region,” Chinh said.

The two leaders also consented to intensify exchanges, consultation, and experience sharing, and to expand cooperation in emerging areas such as the digital economy, green economy, just energy transition, science and technology, innovation, smart agriculture, e-government, and cybersecurity, as well as other promising sectors.

They agreed to beef up cooperation between educational institutions, including student exchanges, scholarships, and sharing of management experience, to enhance cross- cultural exchange.

Malaysia reaffirmed its continued support for the Vietnamese community living, studying, and working in the country, describing them as "people’s ambassadors" who play an active role in nurturing friendship and ties between the two peoples.

Both countries reiterated their consistent stance on upholding ASEAN unity and centrality, and maintaining peace, stability, security, safety, and freedom of navigation in the East Sea (internationally known as South China Sea), in line with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Vietnam and Malaysia pledged support for the latter’s 2025 ASEAN Chairmanship and joint efforts with other ASEAN members to promote a peaceful and sustainable solution to the situation in Myanmar. These are not only matters of principle but also signify a strong commitment to a united, resilient ASEAN that embraces diversity.

Following the talks, the two PMs witnessed the exchange of cooperation documents regarding diplomacy, information, and education, thereby laying the groundwork for translating joint commitments into concrete actions in the time ahead.

At the subsequent press conference, PM Anwar Ibrahim described Vietnam as a close and trusted friend. He noted that the two sides had reached several important agreements through various agencies and institutions, including a letter of intent on the ASEAN Power Grid with Malaysia’s national electricity authority. The cross-border connection, which will include a submarine cable from Vietnam to Malaysia, is expected to become a symbol of ASEAN success.

PM Chinh thanked the Malaysian government for its warm and respectful welcome and noted that the talks had been productive, marked by mutual understanding and a shared desire to elevate bilateral ties in conformity with the aspirations of both nations and their huge potential and comparative strengths.

The Vietnamese Government chief highlighted the growing ties between Vietnam and Malaysia, describing the relationship as a model of regional cooperation demonstrated by political stability, economic strength, cultural closeness, and a shared strategic outlook. He stressed the importance of long-term thinking and decisive action in advancing bilateral ties, and extended his best wishes to Malaysia for successfully hosting the 46th ASEAN Summit and contributing to regional peace and development.

He also expressed appreciation for Malaysia’s support for the Vietnamese community of around 40,000 people, saying that while modest in number, they serve as meaningful bridges between the two nations. He thanked Malaysia for recognizing the role of the Malaysia–Vietnam Friendship Association and acknowledged the country’s contributions to ASEAN unity and responsiveness amid growing global complexity.

Earlier in the day, PM Anwar Ibrahim hosted an official welcome ceremony for PM Pham Minh Chinh, his spouse, and the Vietnamese delegation, who are in Malaysia from May 24 to 28 for an official visit and attendance at the 46th ASEAN Summit and related high-level meetings in Kuala Lumpur.

 

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