Encouraging trade between the two nations was focus of Malaysian and Vietnamese businessmen at a seminar held jointly by Malaysian External Trade Development Corporation(MATRADE), Malaysian Consulate and Vietnam Chamber of Commerce and Industry in Ho Chi Minh City.
Inaugurating the seminar, Ngo Van Thoan, the Director General of Vietnam Trade Promotion Agency (VIETRADE) said that trade between the two nations had gone up 22 percent from US $1.8 billion to 2.2 billion in 2005 compared to 2004.
Significantly, tax cut on 237 Vietnamese commodities by Malaysia under the ASEAN System of Integrated Preferences has boosted the overall trade between two nations.
On the other hand, Malaysia's export to Vietnam in 2005 was valued at 1.6 billion that included commodities like textiles, clothing, chemicals etc.
Among ASEAN members, Vietnam is turning as an important investment zone for Malaysian companies as Malaysia is the ninth highest investor in Vietnam with projects worth 1.9 billion coming in 2005.
Vietnam's imminent entry in World Trade Organisation is further going to enhance the level of trade between the two nations.
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