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| Malaysian Ambassador Dato Tan Yang Thai wrote in the guestbook at the Presidential Palace when he presented the Credentials on the occasion of receiving a new working term in Vietnam. (Photo: VNA) |
According to Ambassador Dato Tan Yang Thai, this closeness is reflected in both economic and social aspects. The two countries became strategic partners in August 2015. This was an important milestone in the relationship between the two sides.
The two countries also signed and implemented the Action Plan for the 2021-2025 period with the expectation of further consolidating bilateral relations and promoting sustainable development in all fields. In fact, this Action Plan is being successfully implemented, bringing great benefits to the two countries.
According to the Malaysian diplomat, in the field of trade, Vietnam and Malaysia have recorded positive achievements. Bilateral trade turnover continuously increases and reached over USD19.4 billion in 2022, an increase of more than 16% compared to 2021. In 2022, Vietnam was Malaysia's 12th largest trading partner on a global scale, and the 4th largest partner in ASEAN after Singapore, Indonesia and Thailand.
He said that in order to enhance trade exchanges, the two countries should take full advantage of trade agreements, such as the Regional Comprehensive Economic Partnership (RCEP), or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Accordingly, Malaysia has exempted 88% of applicable taxes with Vietnam, and this number will be 100% in 2033. This will be a lever to help increase bilateral trade in the coming time.
In the field of investment, Ambassador Dato Tan Yang Thai said that Vietnam remains one of the most attractive destinations for foreign investors, including Malaysian businesses. With a growing economy, the inflow of foreign direct investment into Vietnam has continuously increased in recent years. Malaysian investors are also eager for the prospect of collaborating with Vietnamese partners in potential fields such as agriculture, fisheries, halal food, processed food, and electronic products and components. According to the Ambassador, these are the areas that Malaysia will focus on promoting in the near future.
The good relationship between the two countries is also reflected in other areas, such as defense cooperation and cooperation within the ASEAN framework.
The Malaysian diplomat said he was pleased to see that cooperation between the two countries in the field of defense and security was progressing well. Malaysia hopes that this year, the Memorandum of Understanding on Defense Cooperation between the two countries, which expired in 2018, will continue to be signed, contributing to strengthening bilateral relations and contributing to security and stability in the region.
Within the ASEAN framework, the Ambassador commented that both Vietnam and Malaysia are active and responsible members of the bloc. The two countries are committed to consolidating peace and stability through active participation in ASEAN and other regional organizations.
Malaysia will assume the ASEAN Chair in 2025. As a member of ASEAN, Malaysia will strive to enhance regional stability and cooperation while pursuing its national interests, added the Ambassador.
Currently, Malaysia is supporting Vietnam and several other ASEAN countries in the field of engineering and regional integration through The Malaysian Technical Cooperation Program (MTCP).
Assessing the prospect of Vietnam-Malaysia relations, Ambassador Dato Tan Yang Thai confirmed that the relationship between Malaysia and Vietnam is growing stronger and stronger. “I am optimistic that this relationship will continue to grow in the coming time thanks to the efforts at both bilateral and regional levels that the two countries are showing”./.