Vietnam and Malaysia eye $15 billion trade by 2020

HANOI, Vietnam – Trade between Vietnam and Malaysia has increased three-fold over the last decade to $10.3 billion and the two countries have set the target of $15 billion by 2020.

Malaysian Foreign Minister Anifah Aman, speaking at a joint briefing with his Vietnamese counterpart Pham Binh Minh, says there are huge potentials for the countries to increase their trade and investment.

Aman travelled to Hanoi to chair a joint commission meeting on economic and technological co-operation, the first such meeting in 11 years.

Malaysia is Vietnam’s seventh largest trading partner.

Minh said Thursday the two countries agreed to expand co-operation on defence and security to include counterterrorism, fighting pirates and transnational crimes.