Signing of Memorandum of Understanding on Trade Promotion between Vietnam and Malaysia

On the afternoon of November 21, the Trade Promotion Department and the Malaysian Trade Promotion Agency officially signed a Memorandum of Understanding on trade promotion activities.

Within the framework of the official visit of General Secretary To Lam to Malaysia, on November 21, 2024, under the witness of General Secretary To Lam and Malaysian Prime Minister Anwar Ibrahim, representatives of the Trade Promotion Agency ( Ministry of Industry and Trade of Vietnam) and the Malaysia Trade Promotion Agency (Ministry of Investment, Trade and Industry of Malaysia) signed and exchanged a Memorandum of Understanding to enhance cooperation in the field of trade promotion between the two countries.

The document handover ceremony was attended by senior leaders of central ministries and branches of Vietnam and Malaysia.

The signing of the Memorandum of Understanding between the trade promotion agencies of the two countries marks an important milestone in building a sustainable cooperation mechanism.

According to the agreement in the Memorandum of Understanding, the two sides committed to promoting professional trade promotion activities, while strengthening economic and trade relations between Vietnam and Malaysia to develop economic and trade relations between the two countries. This is considered a strategic step to realize the goal of increasing bilateral trade turnover in the coming time.

General Secretary To Lam and Malaysian Prime Minister witnessed the signing of a Memorandum of Understanding on enhancing cooperation in trade promotion between the Vietnam Trade Promotion Agency (Vietrade) and the Malaysian Trade Promotion Agency (Matrade). Photo: VNA

The Memorandum of Understanding sets out specific goals in enhancing information exchange and coordinating the organization of trade promotion events, helping businesses of the two countries expand their markets and seek strategic partners.

At the same time, the two sides pledged to promote cooperation in the Halal sector, especially increasing trade promotion activities for Halal products through participation in fairs, exhibitions and events organized by each side. With a long-term vision, the memorandum of understanding is expected to create new momentum for Vietnam - Malaysia trade relations, opening up opportunities for deeper cooperation, contributing to promoting comprehensive economic development for both sides.

Also on November 21, in addition to the document exchange ceremony between the two countries, General Secretary To Lam and Prime Minister Anwar Ibrahim co-chaired a press conference, officially announcing the upgrading of bilateral relations to a Comprehensive Strategic Partnership.

Representatives of the Vietnam Trade Promotion Agency (Ministry of Industry and Trade of Vietnam) and the Malaysia Trade Promotion Agency (Ministry of Investment, Trade and Industry of Malaysia). Photo: VNA

Speaking to the press, Malaysian Prime Minister Anwar Ibrahim said that General Secretary To Lam's official visit to Malaysia this time is of great significance as the two countries upgrade their relationship to a Comprehensive Strategic Partnership.

According to the Malaysian Prime Minister, there are currently many Malaysian enterprises investing and doing business effectively in Vietnam. Prime Minister Anwar Ibrahim expressed his gratitude and hoped that Vietnam would continue to create favorable conditions for Malaysian enterprises to invest in Vietnam. At the same time, he supported Malaysia to assume the role of ASEAN Chair in 2025.

Accordingly, the two sides pledged to support each other on the development path of each country; continue to consolidate and enhance friendly cooperation and political trust between the two countries on the basis of respect for international law, independence, sovereignty, territorial integrity and political institutions, in accordance with the socio-economic situation and laws and regulations of each country and the principle of non-interference in each other's internal affairs.

Speaking at the press conference, General Secretary To Lam emphasized the goal of raising bilateral trade turnover to 18 billion USD or higher, aiming for balance and mutual benefits for both countries. The General Secretary also affirmed his commitment to promoting cooperation in the Halal industry and encouraging businesses to actively expand investment in each other's markets.

Participating in the delegation accompanying General Secretary To Lam and his wife on an official visit to Malaysia, on the side of the Ministry of Industry and Trade, there were Minister Nguyen Hong Dien and representatives of the Asia - Africa Market Department, the Trade Promotion Agency, the Ministry Office...

Source: https://congthuong.vn/ky-ket-bien-ban-ghi-nho-ve-xuc-tien-thuong-mai-giua-viet-nam-va-malaysia-360228.html