VN posts $849m trade surplus with Malaysia

Saturday, Feb 15, 2014 11:30

Rice is one of product exported to Malaysia. — Photo La Anh Tuan

HA NOI (Biz Hub)— Viet Nam saw a trade surplus of US$849 million with Malaysia last year, marking the second consecutive year this has happened in the last 20 years.

This announcement was made by the Trade Office of the Vietnamese Embassy in Malaysia.

Bilateral trade rose 15.3 per cent year-on-year to approximately $9.12 billion, with Vietnamese exports generating over $4.98 billion, while its imports hit $4.13 billion.

Among Vietnamese exports to Malaysia, computers, electronics and their components posted the highest turnover at $1.18 billion. These were followed by crude oil, with $916.2 million; mobile phones and their parts, $655 million; rubber, $518 million; and rice, $232 million. Steel and iron saw turnover worth $198 million.

Meanwhile, Viet Nam mainly imported oil and fat, petroleum products, plastic materials and electronics and their components from Malaysia.

In terms of investment, Malaysia has, to date, invested in 451 projects in Viet Nam, with capital amounting to $10.33 billion, ranking eighth amongst foreign investors and second among ASEAN backers in the country.

By March 2013, Viet Nam supported nine investment projects in Malaysia, worth a total registered capital of $413 million.

Experts said the two countries have signed a total of 13 bilateral agreements, creating plenty of opportunity for an increase in bilateral co-operation in investment, trade, banking, and education.

Tourism, labour, sports and security and national defence will also see increased co-operation. — VNS

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