Collins said the visit provides an ideal platform for both nations to pursue shared goals, aiming to maintain regional peace and stability while ensuring economic resilience and fostering new growth through strategic economic and trade development.
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Collins Chong Yew Keat, an expert on foreign affairs and security at the University of Malaya |
It also carries significance in sustaining and enhancing Vietnam-Malaysia relations, and sends a strong message of shared values and a unified agenda based on broader collaboration in policies and approaches aimed at fostering stable, peaceful and prosperous development for ASEAN and the wider region.
Under the Action Plan to deploy the bilateral strategic partnership in the 2021-2025 period, Vietnam-Malaysia ties are set to grow stronger. This promises to yield wider-reaching impacts, from deep economic ties to stronger people-to-people connections and national defense and security. The increased exchanges at various levels will contribute to building greater strategic trust between the two nations.
The expert underlined Vietnam’s critical role in shaping and leading regional frameworks to ensure stability, freedom and openness in Southeast Asia and the Indo-Pacific.
Vietnam continues to demonstrate its exemplary leadership, leveraging its experience and achievements to promote regional peace and stability. This is reflected in Vietnam’s "four no’s" defense policy. These include no military alliances, no siding with one country against another, no foreign military bases or using Vietnamese territory to oppose other countries, and no use of force or threatening to use force in international relations.
On the economic front, Collins noted that both Vietnam and Malaysia are working to expand two-way trade, targeting 18 billion USD by 2025 and 25 billion USD by 2030, particularly in emerging industries. Trade remains one of the strongest pillars, with Malaysia ranking among Vietnam’s top 10 trading partners. In recent years, two-way trade has shown steady growth, surpassing 15 billion USD in 2023, a 35% increase from 11.1 billion USD in 2021.
Traditional cooperation areas such as tourism, people-to-people exchanges and education continue to thrive, while emerging sectors like sustainable agriculture, climate management, green and carbon-neutral agendas, disaster response, renewable energy, food security, supply chain resilience, and hi-tech manufacturing hold strategic significance.
As both countries navigate their economic transitions, they are positioning themselves as key global investment hubs, particularly in hi-tech manufacturing. Their collaboration extends to digital economy, the energy sector, and technology-driven initiatives.
Collins believed that Vietnam and Malaysia are set to strengthen economic and technological cooperation in mutually beneficial key industries, particularly those critical to global and regional geo-strategic and geo-economic concerns.
Both nations are actively improving supply chain resilience and reliability, food security, defense capabilities, and the development of future-critical technologies, including semiconductors, green energy, and digital economy.
Collins also underscored Vietnam’s significant rise in economic prestige and leadership in the region since joining ASEAN in 1995. Now one of the world’s largest emerging economies, Vietnam plays a leading role in regional supply chains and markets.
Vietnam’s unique position and influence are evident in addressing critical regional issues such as the Myanmar crisis and potential conflicts in the East Sea. These strengths underpin Vietnam’s capacity to assert itself within ASEAN and collaborate effectively with global partners in shaping a prosperous future for the region, he said.
Source: VNA