BANGKOK, March 16 — Malaysia and Vietnam should take advantage of all initiatives including the Regional Comprehensive Economic Partnership (RCEP) agreement to increase bilateral...
BANGKOK, March 16 — Malaysia and Vietnam should take advantage of all initiatives including the Regional Comprehensive Economic Partnership agreement to increase bilateral trade, said Malaysian Ambassador to Vietnam, Datuk Tan Yang Thai.The establishment of RCEP places the Asia-Pacific region as the new centre of gravity of global trade, with total trade expected to increase to nearly US$42 billion .
As the world’s largest free trade agreement - with a market covering 15 countries and 2.2 billion of the world’s population - member countries participate in the global trade and investment ecosystem and benefit from the absence of approximately 90 per cent of tariffs among member countries. Tan is optimistic that bilateral and multilateral relations between Malaysia and Vietnam will continue to grow, especially within the framework of ASEAN.“Vietnam remains one of the most attractive destinations for foreign investors, especially investors from Malaysia. With a thriving economy, the amount of foreign direct investment inflows to Vietnam has been steadily increasing over the last couple of years.
“Investors from Malaysia are also interested in cooperating with Vietnam in high-potential areas such as agriculture, aquaculture products, halal products, processed food, and electronic products and components,” he said in an interview with Radio Suara Vietnam in conjunction with the 50th anniversary celebration of Malaysia-Vietnam bilateral relations.Bilateral trade between Malaysia and Vietnam has seen a significant increase in recent years.
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