Minister Cuong highlighted the important role of agriculture in both countries’ economy and job generation for farmers.
At present, agriculture contributes 11 percent to the gross domestic product (GDP) of Malaysia, and creates jobs for 16 percent of the workforce.
Meanwhile, the sector accounts for 18 percent of Vietnam’s GDP and 70 percent of Vietnamese population are living in rural areas.
Both sides at the talks. Photo: baocongthuong.com.vn
The Vietnamese minister proposed that the two sides work together to enhance the value of products that they both produce.
Minister Datuk Seri Mah Siew Keong said his country has strength in exporting palm oil, rubber, pepper and deep processing products.
Malaysia is importing rubber from Vietnam to produce medical gloves, he said, adding that many Malaysian rubber and pepper businesses are eyeing the Vietnamese market.
He invited Vietnam to attend the upcoming International Rubber Tripartite Conference in Kuala Lumpur.
Regarding pepper products, the minister said Vietnam now produces five times as much pepper than Malaysia, recalling that many delegations of Vietnam visited Malaysia 10 years ago to study pepper production farms.
Vietnam is the biggest pepper manufacturer in the world while Malaysia is leading in processed pepper products, Datuk said, adding that Malaysian businesses are ready to come to Vietnam to cooperate in processing pepper products.
Cuong said he hope the agricultural trade between Vietnam and Malaysia will increase by USD 1 billion by 2020, contributing to realizing the goal of USD 15 billion in bilateral trade value in 2020.
Source: VNA