Prime Minister Pham Minh Chinh (R) receives Malaysian Minister of Investment, Trade, and Industry Zafrul Abdul Aziz in Hanoi. (photo: VOV)

Mr. Chinh said that Malaysia is the third largest trading partner of Vietnam in the Association of Southeast Asian Nations (ASEAN) and the 10th largest in the world. With a total registered capital of over 13 billion USD, Malaysia is also the third biggest ASEAN investor in Vietnam.

As the goal of achieving 20 billion USD in two-way trade in the coming years is reachable, PM Chinh suggested both nations continue to leverage their complementary strengths, explore breakthrough solutions to boost economic, trade, and investment cooperation, and join global value and supply chains.

He also proposed Malaysia facilitate the entry of Vietnamese goods into its market, particularly processed farm produce, seafood, and food products; assist Vietnam in developing the Halal industry and encouraging Malaysian investments in Vietnam in this field, as well as in digital transformation, green transition, clean energy and wind power export. Furthermore, he called for bolstering joint work in emerging fields such as innovation, artificial intelligence and cybersecurity.

Mr Chinh said that Vietnam and Malaysia need to continue supporting each other at multilateral forums. Together with other ASEAN member states, they should maintain the bloc's central role, strengthen unity in diversity within ASEAN, and maintain an environment of peace, stability, cooperation and development. He underscored the importance of maintaining peace, stability, security and safety of navigation and aviation in the East Sea, and settling disputes peacefully in line with international law, especially the United Nations Charter and the 1982 UN Convention on the Law of the Sea (UNCLOS).