By Nur Ashikin Abdul Aziz
KUALA LUMPUR, Aug 23 (NNN-BERNAMA) — Prime Minister Dr Mahathir Mohamad’s planned visit to Vietnam next week will strengthen the existing strategic partnerships between the two Southeast Asian nations, said Vietnam’s Ambassador to Malaysia Le Quy Quynh.
Le said the visit would also put on track both countries’ target to achieve US$15 billion two-way trade by 2020 as outlined under the Vietnam-Malaysia Action Plan (2017-2019).
“This is a very important visit. This visit can help develop the relations between the two countries. I believe that the target for US$15 billion will be achievable in 2020.
“In 2015, we upgraded our relations to strategic partnership and now we have very good relations in all areas from political to defence, security, trade and education,” he told Bernama at a reception here Thursday night to mark the country’s 74th National Day, which will be observed on Sept 2.
The ambassador said both countries have enjoyed great relations since they established bilateral ties in 1973, but there are still various opportunities in trade and investments that can be explored by the businesses of both countries.
“In terms of investment, Vietnam can invest in agriculture and processing in Malaysia, while Malaysia can invest in real estate and electronic factories,” he said.
Currently, Vietnam’s main exports to Malaysia are rice, coffee and electronics, while Malaysia mainly exports oil and gas, and electronic products to Vietnam.
Le said Vietnam-Malaysia bilateral trade in 2018 was valued at US$13.5 billion, second behind Singapore among Asean countries, and sixth overall.
Meanwhile, Malaysia is the top investor in Vietnam among Asean countries, and eighth overall, with a value of about US$13 billion, he added.
Commenting on Vietnamese fishermen’s encroachment into Malaysian waters, Le said the Vietnamese government and authorities are against the activity and are trying to prevent such actions.
The ambassador said Vietnam has also proposed to Malaysia during previous meetings to introduce a licence that would allow Vietnamese vessels to fish in Malaysian waters legally, for a fee, but the matter has yet to receive the green light from Malaysian authorities.
“This is to avoid them from fishing illegally. We are still having consultations with the Malaysian side,” he said.
–NNN-BERNAMA