Vietnam promotes exports to Malaysia and Islamic countries

The Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) in coordination with the Malaysia External Trade Development Corporation (MATRADE) held a seminar on promoting exports to Malaysian and Islamic markets.

Delegates to the seminar
Delegates to the seminar

At the seminar, participants emphasised that Malaysia is one of the import markets with great potential for Vietnam in ASEAN. The Vietnam-Malaysia trade relationship has plenty of room to promote commercial cooperation in many fields such as machinery and equipment, food and drink, agricultural products, aquatic products and personal care products.

According to statistics from the General Department of Customs, import and export revenue in the first four months of 2022 between the two countries is estimated at nearly 5 billion USD, up 15% over the same period in 2021. Main products exported from Vietnam to Malaysia include machinery, equipment and spare parts,computers, electronics and components as well as steel.

Particularly, the export revenue of Ho Chi Minh City over the first three months of 2022 to Malaysia was estimated at 295 million USD, up 150% over the same period in 2021. As of the first quarter of this year, Malaysia had 295 investment projects in Ho Chi Minh City with a total capital of 4.7 trillion USD, ranking 6th out of 116 countries and territories investing in Ho Chi Minh City.

To expand exports to Malaysia and other Islamic countries, Vietnamese enterprises in general and Ho Chi Minh City, in particular, should have Halal certification, improve product quality, and build a system of trade distribution and product promotion.