Malaysia Exterior Commerce Improvement Company (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman. VNA Photograph
KUALA LUMPUR – Việt Nam – Malaysia commerce has recorded optimistic indicators regardless of difficulties and challenges brought on by the COVID-19 pandemic, probably attaining a two-way turnover of US$18 billion in 2025, in line with Malaysia Exterior Commerce Improvement Company (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman.
Speaking to the Việt Nam Information Company on the event of the upcoming official go to to Việt Nam by Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob on March 20-21, Raja Badrulnizam stated Việt Nam was the eleventh greatest commerce accomplice and the seventh largest export market of Malaysia.
In keeping with the Division of Statistics Malaysia (DOSM), the bilateral commerce reached US$16.71 billion final 12 months, up 41.6 per cent in comparison with 2020.
The figures present a optimistic improvement because the two international locations established diplomatic relations in 1973 and upgraded their ties to a strategic partnership in 2015.
The 2 international locations are striving to grasp a two-way commerce goal of US$25 billion by 2030.
Raja Badrulnizam revealed that his nation’s commerce had improved exponentially with a outstanding mark on commerce, export and import.
He affirmed that the Regional Complete Financial Partnership (RCEP) which entered into pressure in early 2022, wherein each Malaysia and Việt Nam accomplished their ratification course of, would contribute to boosting the bilateral commerce.
To advertise the Malaysia – Việt Nam commerce, particularly to extend Malaysia’s exports to the Vietnamese market specifically and regional international locations typically, MATRADE had set out three agendas together with creating beneficial circumstances for Malaysian companies to take a position and export overseas, he added.
The agendas deal with constructing a sustainable enterprise setting, digitising commerce actions, and implementing particular initiatives on the idea of Malaysia’s nationwide commerce grasp plan.
The official invited Vietnamese companies to take part within the 18th Malaysia Worldwide Halal Showcase (MIHAS) 2022 which can happen from September 7-10.
Because the world’s largest Halal exhibition centre, MIHAS could be the perfect alternative for Vietnamese firms to increase their Halal market, he famous.
Strategic partnership
The official go to to Việt Nam by Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob on March 20 – 21 is anticipated to assist intensify the 2 international locations’ strategic partnership in a extra substantive method.
The journey, to be made on the invitation of Prime Minister Phạm Minh Chính, would be the first tour of Việt Nam by the Malaysian chief since he took workplace in August 2021.
The 2 international locations established diplomatic ties on March 30, 1973, and elevated their relations to a strategic partnership in August 2015.
Over the previous years, they’ve regularly organised mutual visits and high-level conferences, together with the visits to Việt Nam by Sultan Muhammad V in March 2009 and September 2013, PM Najib Tun Razak in April 2014, and PM Mahathir Mohamad in August 2019; together with the journeys to Malaysia by President Trương Tấn Sang in September 2011 and PM Nguyễn Tấn Dũng in August 2015.
Excessive-level conferences have been held in versatile varieties comparable to talks over the telephone and by way of videoconference since 2020 regardless of the COVID-19 pandemic.
Some bilateral cooperation mechanisms have been carried out successfully, together with the joint committee for financial, scientific, and technical cooperation, the defence cooperation committee, the joint commerce committee, and the scientific and technological cooperation committee.
Defence ties have been maintained by means of all-level delegation exchanges, personnel coaching, and expertise sharing. In the meantime, safety cooperation has frequently been enhanced as seen in elevated sharing of details about terrorism, cybercrime, and transnational crime, together with an settlement on cooperation in transnational crime prevention and management signed in 2015.
In 2021, Malaysia ranked second in ASEAN and ninth on the planet among the many commerce companions of Việt Nam, which in flip was the third largest commerce accomplice of the previous. Bilateral commerce reached US$12.5 billion final 12 months, up 25.3 per cent from 2020. Việt Nam exports primarily telephones and elements, crude oil, rice espresso, and seafood to Malaysia whereas importing largely computer systems, digital merchandise, equipment, gear, petrol, family home equipment and elements, and chemical substances. Their commerce worth was roughly US$2.2 billion within the first two months of 2022, up 20 per cent 12 months on 12 months.
When it comes to funding, Malaysia at present ranks second among the many ASEAN nations and tenth among the many 140 international locations and territories investing in Việt Nam, with 668 legitimate initiatives price US$13 billion. Việt Nam has 21 legitimate initiatives with registered capital totalling US$853 million in Malaysia, making the latter the ninth greatest among the many 78 abroad funding locations of Việt Nam.
There are greater than 1,000 Vietnamese college students in Malaysia at current. The 2 sides signed a memorandum of understanding on instructional cooperation on March 6, 2019, and an settlement on tourism partnership in 1994. Since visa exemption was utilized to peculiar passport holders of the 2 international locations in September 2001, the variety of Malaysian vacationers to Việt Nam has grown quick, topping 605,000 arrivals in 2019, rising 12.2 per cent from the earlier 12 months.
About 29,000 Vietnamese persons are residing in Malaysia, most of them handbook employees.
Over the past couple of years, dealing with the COVID-19 outbreak, the 2 sides made joint efforts to deal with the pandemic. Việt Nam donated 6,500 units of non-public protecting gear price US$50,000 and 20,000 medical face masks to Malaysia.
Neermal Shunmugam, Chargé d’ affaires of the Malaysia Embassy in Việt Nam, stated the go to by PM Dato’ Sri Ismail Sabri bin Yaakob aimed to additional improve post-pandemic cooperation and would additionally present an opportunity for either side to discover new elements of bilateral ties, focus on regional and worldwide problems with frequent concern, and promote bilateral commerce and funding. VNA/VNS
