Vietnam and Malaysia have taken a significant step in strengthening their trade relationship by agreeing to lower trade barriers. The two countries’ leaders expressed their satisfaction with the progress of their bilateral ties, particularly since they upgraded their relationship to a strategic partnership in 2015, according to Xinhua news agency.
During discussions, the Prime Ministers of both nations affirmed their commitment to enhancing delegation exchanges and high-level contacts through various channels, including party, state, government, and National Assembly interactions.
Additionally, Vietnam and Malaysia decided to explore the possibility of establishing a mechanism for their Prime Ministers to hold regular or periodic meetings and exchanges in flexible formats at multilateral forums.
Malaysia is a crucial trading partner for Vietnam in the ASEAN region, ranking second, and it holds the ninth position among Vietnam’s trading partners worldwide. Moreover, Malaysia is one of the top 10 countries with the largest investments in Vietnam, as reported by the Vietnam News Agency.
This progress in trade relations comes amidst a two-day visit by the Malaysian Prime Minister, Anwar, to Vietnam. This visit marks his first official trip to the Southeast Asian country since he assumed office in 2022.
The efforts to lower trade barriers and foster closer ties between Vietnam and Malaysia are expected to have positive implications for economic cooperation and growth between the two nations.
