President suggests Vietnam, Malaysia take advantage of FTAs

President Nguyen Xuan Phuc (R) and visiting Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob. (Photo: VNA)

Hanoi – President Nguyen Xuan Phuc has recommended Vietnam and Malaysia capitalise on free trade agreements of which both are members, particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

He made the recommendation in Hanoi on March 21 while hosting visiting Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob, who informed him of key outcomes of talks with his Vietnamese counterpart Pham Minh Chinh. Accordingly, the two PMs agreed to boost cooperation in all fields, particularly economy, trade, investment, and labour; effectively implement the action plan to realise the nations’ strategic partnership for 2021-2025; and co-organise activities to mark 50 years of the Vietnam-Malaysia diplomatic relations.

Phuc said he appreciates the results of the substantive talks and the documents signed by the two sides on this occasion, helping to create more legal basis for bilateral cooperation.

The President commended the fact that the two sides have agreed in principle to recognise each other's vaccine certificates, creating favourable conditions for travel and trade between the countries.

The State leader suggested Vietnam and Malaysia step up cooperation in building the circular economy within the framework of the ASEAN Economic Community for mutual recovery and development.

Phuc wished that the two sides continued to support and cooperate actively at the United Nations, APEC, ASEAN and regional and international forums. Joining other ASEAN member states to strengthen the bloc’s solidarity, promote its centrality, and build a prosperous and strong ASEAN Community is also necessary, he noted.

On the basis of the great cooperation potential between the two countries, both host and guest agreed to seek new areas of cooperation, striving to further increase two-way trade turnover; and to strengthen join works in tourism, culture, science and technology, and people-to-people exchange.

On the occasion, Phuc sent his best wishes to and invited the Malaysian King to visit Vietnam in an appropriate time in the future. Meanwhile, the Malaysian PM conveyed the king’s invitation to the Vietnamese leader to soon make a State-level visit to Malaysia.