Vietnam exported USD 978.7 million worth of goods to Malaysia, up 49.6 percent, and imported USD 1.29 billion from the market, up 33 percent against the same period last year.
In January-March, Vietnam exported numerous high value commodities to Malaysia such as computers, electronic products and spare parts (USD 367.2 million), and mobile phones and components (USD 112.6 million).
Other staples include iron and steel (USD 58.63 million), machines and equipment (USD 43.07 million), glass and glass products (USD 41.36 million), vehicles and spare parts (USD 35.74 million), crude oil (USD 20.03 million), rubber (USD 19.94 million), and seafood (USD 19.2 million).
The total investment of Malaysian businesses in Vietnam is estimated at more than USD 12 billion, focusing on oil and gas, real estate, trade and tourism.
At a recent reception for Malaysia’s Minister of Trade and Industry Datuk Seri Mustapa Mohamed on the occasion of his visit to Vietnam, President Tran Dai Quang said Vietnam attaches great importance to developing relations with Malaysia, particularly in economics, trade and investment.
The President lauded the efficiency of Malaysian projects that benefit the two countries’ businesses and contribute to Vietnam’s socio-economic development.
Malaysia is the second biggest investor in Vietnam in ASEAN, with two-way trade hitting USD 8 billion in 2015.
The President urged the two nations to restart meetings between the joint committee on bilateral cooperation soon to plan for the implementation of the Vietnam – Malaysia Action Program in 2017-2019.
The two countries need to map out measures to realise the bilateral trade target of USD 15 billion by 2020, he added.