The MoU signing ceremony. — VNA/VNS Photo Ha Ngoc

The Viet Nam Trade Office in Malaysia and the Viet Nam Malaysia Business Association (VMBIZ) on Wednesday signed a memorandum of understanding (MOU) on enhancing cooperation to boost trade and investment between the two countries’ businesses.

Speaking at the signing ceremony, Vietnamese Commercial Counsellor in Malaysia Pham Quoc Anh said trade between the two countries slumped by 15 per cent annually in the first eight months of this year due to the COVID-19 pandemic.

Via the MoU, the Office hopes to help VMBIZ improve its capacity and expand ties with Vietnamese and Malaysian business associations and entrepreneurs, he said.

VMBIZ Chairman Ngo Sy Tuyen wished that the Office would provide VMBIZ with information about demand for exports-imports of the two nations’ firms. VMBIZ pledges to help the Office carry out trade promotion activities, seek partners, and develop markets.

Vietnamese Ambassador to Malaysia Le Quy Quynh suggested that both sides should soon establish specialised units to coordinate common activities, including bringing Vietnamese goods to Malaysia and sharing experience with Malaysian associations and businesses.

Following the signing ceremony, a number of Vietnamese and Malaysian firms also met to seek cooperation opportunities. — VNS