Malaysia, Asean to benefit from robust trade relations
KUALA LUMPUR: With the creation of the Asean Economic Community (AEC), the Regional Comprehensive Economic Partnership (RCEP) and the negotiation of the Trans-Pacific Partnership Agreement (TPPA), Malaysia, Vietnam and Asean are well set to deepen economic relations.
Asean Business Club highlighted this following a special dialogue session with Vietnam’s Prime Minister Nguyen Tan Dung, held during the weekend at Putrajaya.
The ABC hosted a special dialogue with the prime minister of Vietnam in conjunction with his official two-day visit to Malaysia.
Aimed at strengthening trade relations between Vietnam and Malaysia, the exclusive dialogue was held in partnership with the CIMB Group, Embassy of the SR of Vietnam in Malaysia, Ministry of Planning and Investment of Vietnam, Ministry of International Trade and Industry of Malaysia and Matrade.
“We are honoured to play host to the visiting Prime Minister of Vi-
We are honoured to play host to the visiting Prime Minister of Vietnam and his accompanying delegation. Vietnam was the second most attractive investment destination in AsiaPacific in 2014.
etnam and his accompanying delegation. Vietnam was the second most attractive investment destination in Asia-Pacific in 2014.
“With the creation of the Asean Economic Community (AEC), the RCEP (Regional Comprehensive Economic Partnership) and the negotiation of the TPPA (TransPacific Partnership Agreement), Vietnam and Asean are well set to deepen economic relations,” said ABC president, Tan Sri Dr Munir Majid.
In a press statement, Vietnam hopes the official visit of our Prime Minister Nguyen Tan Dung will push the bilateral relations between Malaysia and Vietnam to new heights.
“In terms of Investment, Malaysia ranked 8th among the 103 countries and territories invested in Vietnam with approximately 500 projects with total registered capital of 11 billion US dollars.
“We highly appreciate the significant contribution of the Malaysian investors to the socio-economic development of the country, in promoting the economic reform, transferring the professional management skills and labour training as well,” said Bui Quang Vinh, Minister Of Planning and Investment Of The Socialist Republic Of Vietnam.
His counterpart, Datuk Seri Mustapa Mohamed, Minister of International Trade and Industry (Miti) of Malaysia, urged the private sector in Malaysia and Vietnam to take full advantage of government facilitation efforts in trade and investment.
“Among the efforts to further our commitment is the opening of a Miti Office in Hanoi to augment the efforts of the existing Matrade office there.
“I believe that with the support of the private sector, the trade volume between our two nations can be easily raised to US$20 billion in the next few years. This target is well within reach, especially with the formal establishment of the ASEAN Economic Community by the end of this year”, he said.
Over 100 participants from both countries including 15 cabinet ministers from Vietnam held a closed-door discussion focused on investment incentives and regulations of six strategic sectors such as finance & banking, oil & gas, infrastructure - real estate - industry zone, manufacturing – processing, trading - import, export, and education.
The main sponsor for the event was CIMB Group which received an Approval in Principle to offer full banking services in Vietnam.
Tan Sri Dr Munir Majid, ABC president