(VOVworld)- Vietnam and Malaysia should work out specific, practical measures to achieve their trade target of 15 billion USD by 2020.

President ask for specific measures for trade target with Malaysia

At a meeting with visiting Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed in Hanoi on Thursday, President Tran Dai Quang 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.