Peresident Tran Dai Quang meets with Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed. (Photo: VNA)
 
Hanoi (VNA) – Vietnam and Malaysia should work out specific, practical measures to achieve their trade target of 15 billion USD by 2020, President Tran Dai Quang has said.

That view was agreed by visiting Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed during his meeting with the President in Hanoi on December 8.

The President hailed the roundtable talks of 100 Vietnamese and Malaysian businesses held earlier on the day, stating that Vietnam pays heed to fostering the relations with the regional country, especially in economy, trade and investment.

He affirmed that Malaysia-invested projects have contributed significantly to Vietnam’s socio-economic development.

Malaysia ranked second among ASEAN member countries investing in Vietnam with 12 billion USD mostly in oil and gas, real estate, trade and service. Trade between Malaysia and Vietnam hit 8 billion USD in 2015. Last August, Malaysia’s CIMB bank was licensed to establish a Vietnam unit.

President Tran Dai Quang and Minister Mustapa Mohamed discussed and agreed on measures to step up the two countries’ strategic partnership.

The President suggested re-organizing the meeting of the Vietnam-Malaysia Joint Committee as soon as possible and outlining a plan to implement the Vietnam-Malaysia Action Plan in 2017-2019.

He stressed that the strategic partnership allowed the two countries to make progress in their political, economic, trade, investment, defence, security, oil and gas, education, tourism, and people-to-people ties.

He expressed his hope for Malaysia’s support for Vietnam’s successful hosting of APEC 2017 and the two countries’ increased consultation and backing at multilateral forums and regional and global cooperative mechanisms.

Minister Mustapa Mohamed stated that Malaysia wants to develop cooperation with Vietnam to the next level, especially trade, and expects to draw more Vietnamese investors and businesses.

He affirmed that Malaysia highly values Vietnam’s role and position in regional and global cooperative mechanisms and wants to work together with Vietnam in ASEAN and other forums.

Malaysia will support Vietnam’s organization of the APEC Year 2017, he said.-VNA