Malaysia-Vietnam trade committee’s third meeting convened

The third meeting of the Vietnam-Malaysia trade joint committee took place in Kuala Lumpur on Saturday, outlining measures to intensify economic and trade cooperation. The two sides agreed that economic policies are key to increasing bilateral trade. They also discussed the signing of a memorandum of understanding for the pharmaceutical sector, and ways to boost collaboration between the Malaysia External Trade Development Corporation and the Vietnam Trade Promotion Agency - in particular exchanges between trade delegations and participation in fairs and exhibitions. Vietnam was Malaysia’s 14th biggest trade partner, globally, and its fourth biggest within the ASEAN bloc during 2014. At the event, the two countries agreed to bring the trade to US$15 billion or more by 2020.