Vietnam malaysia trade

Vietnamese Ambassador to Malaysia Le Quy Quynh speaks at the conference (Source: VNA) Kuala Lumpur (VNA) - Vietnam and Malaysia have signed an agreement on five-year action programme, aiming to lift bilateral trade turnover to 15 billion USD in 2020. The agreement was inked at a conference in Kuala Lumpur on July 29 to connect Vietnamese and Malaysian enterprises and those from other countries. Jointly held by the Vietnamese Embassy in Malaysia and the Vietnam Businesses’ Association in Malaysia, the event attracted representatives from over 200 firms of Vietnam, Malaysia and Cambodia and Thailand. The two sides are drafting another five-year action prorgramme for 2020-2025 to raise two-way trade to 25 billion USD by 2025. The agreement on the programme is scheduled to be signed during Malaysian Prime Minister Mahathir Mohamad’s official visit to Vietnam in August this year. On the occasion, Vietnamese Ambassador to Malaysia Le Quy Quynh hailed the Vietnamese … [Read more...] about Vietnam, Malaysia seek to expand trade ties

Illustrative image (Source: VNA) Kuala Lumpur (VNA) – Trade revenue between Vietnam and Malaysia reached 5.48 billion USD in the first half of 2019, down 6.2 percent year on year, according to Vietnam’s Trade Office in Malaysia. Notably, Vietnam’s export earnings in the market dropped 2.6 percent to 1.95 billion USD, while its imports experienced an 8.1 percent drop to 3.5 billion USD, reported the office. The sharpest plunge was seen in imports of petrol at 41.6 percent, followed by machineries and spare parts at 20 percent, animal and vegetable oil at 14 percent, material plastics at 11.2 percent. Household electrical appliances and accessories were the only group that saw increase in import revenue in the market in the first half of this year at 8.7 percent. Meanwhile, exports of many major products were also down in the period, including computers, electronic products and accessories (25.3 percent), telephones (30.2 percent), crystal and crystal products … [Read more...] about Vietnam, Malaysia see trade drop in H1

At the signing ceremony (Photo: VNA)   Kuala Lumpur (VNA) – The Vietnam Malaysia Business Association (VMBIZ) and the Malaysia-Vietnam Commerce Chamber (MVCC) signed a memorandum of understanding in Kuala Lumpur on November 14, which is expected to create a new impulse for business partnership and economic-trade ties between the two countries. Addressing the signing event, Vietnamese Ambassador to Malaysia Le Quy Quynh said, VMBIZ and MVCC, though established in 2017, have actively provided information and supported activities of the two countries’ businesses. Vietnam and Malaysia traded nearly 9 billion USD in the past nine months, an expansion of 17 percent from the same period last year. Malaysia is the seventh biggest investor in Vietnam, having involved in 500 projects capitalized at 12 billion USD, Quynh said. Potential for bilateral cooperation remains vastly untapped, the diplomat said, expressing his hope that the MoU will serve as a new driving force for … [Read more...] about New impulse for Vietnam-Malaysia business cooperation