Nguyen Tuan, Deputy Director for the Investment & Trade Promotion Centre of HCM City (ITPC) (Source: VNA)HCM City (VNA) – Malaysia is one of the exportmarkets in the Association of Southeast Asian Nations (ASEAN) holding the mostpotential for Vietnam, especially for agricultural products, seafood, foodstuff,and beverages, experts noted at a workshop in Ho Chi Minh City on May 22.
Nguyen Tuan, Deputy Director for the Investment& Trade Promotion Centre of HCM City (ITPC), said that economic and tradecooperation between Vietnam and Malaysia has posted growth in recent years.
Vietnam is the second biggest trade partner ofMalaysia, while Malaysia is the fourth largest trade partner of Vietnam inASEAN.
Two-way trade in 2018 reached nearly 11.5billion USD. Vietnam exported computers, electronic products and spare parts,mobile phones, iron and steel, glass products, transport vehicles,garment-textiles, and wood and timber products to Malaysia; while importingpetroleum, electronic components, plastics, chemicals, and textiles from themarket.
By the end of 2018, Malaysia had 586 validproducts and was the eighth biggest investor among countries and territoriesinvesting in Vietnam, with the total investment of nearly 12.5 billion USD.
Faizal Izany Mastor, Malaysian Trade Counsellorin HCM City, said Vietnam and Malaysia are important trade partners inASEAN.
He suggested the two countries enhance tradepromotion activities to realise the bilateral trade target of 15 billion USD in2020.
Zukarnine Shaz Zainal Abidin, a representativefrom Halal Internationl Selagor, said one of the fields that Vietnam andMalaysia could promote cooperation is developing the production of food andbeverages to meet Halal requirements.
It is expected that by 2030, the scale of the globalHalal industry will be worth up to 30.6 trillion USD, including 1.1 trillionUSD in the Asia-Pacific, of which Malaysia will hold some 228.5 billion USD.
Vietnamese farm produce and seafood products(excluding pork) are able to meet the Muslim food standards, he said, addingthat when Vietnamese products receive Halal certification, they could beexported to Malaysia, as well as the global Muslim market with populationprojected at 2.7 billion people in 2020.
He suggested Vietnamese firms carefully studythe Malaysian market and develop international marketing skills.
Dato’ Teng Chang Kim, member of the ExecutiveBoard of Selagor state, held that the cooperation opportunities betweenVietnamese and Malaysian small- and medium-sized enterprises are huge. WhileVietnam has good export ability, Malaysia has advantages to develop servicessupporting import-export, marketing, and distribution of products.
Vietnamese export firms could coordinate with Malaysian service companies topromote the distribution of goods to the regional market, he said. –VNA
VNA
