Prime Minister suggests Vietnam - Philippines soon increase trade turnover to 10 billion USD

Thanh Hà |

Prime Minister Pham Minh Chinh suggested that Vietnam and the Philippines facilitate trade, strive to soon increase two-way trade turnover to 10 billion USD.

Within the framework of his official visit to Malaysia and attending the 46th ASEAN Summit and other relevant Summits in Kuala Lumpur, Malaysia, on the afternoon of May 26, Politburo member and Prime Minister Pham Minh Chinh met with Philippine President Ferdinand Romualdez Marcos Jr.

According to the Ministry of Foreign Affairs, at the meeting, the President of the Philippines respectfully sent his deepest condolences to the State, Government and people of Vietnam for the passing of former President Tran Duc Luong.

President Marcos highly appreciated the good progress in relations between the Philippines and Vietnam - the Philippines' only strategic partner in ASEAN and hoped that the two sides would continue to promote comprehensive cooperation to elevate relations to new heights.

President Marcos said that the two sides have much room and potential for cooperation in the fields of economy, trade, security - defense, agriculture, rice import and export, and renewable energy.

Prime Minister Pham Minh Chinh respectfully thanked the President of the Philippines for his condolences; congratulated the Philippines for successfully organizing the mid-term election with the ruling coalition led by the Philippine Federal Party (PFP) winning a majority of seats in the House of Representatives.

The Prime Minister emphasized the important significance of 2025 - the two countries to celebrate the 10th anniversary of establishing a strategic partnership, towards the 50th anniversary of establishing diplomatic relations by 2026.

Based on the good foundation of the friendship between the two countries, the Prime Minister suggested that the two sides actively promote a number of cooperation focuses in the coming time, including giving high priority to high-level and all-level delegation exchanges; facilitating trade, striving to soon increase two-way trade turnover to 10 billion USD; strengthening cooperation in ensuring food security and combating climate change.

Discussing international and regional issues of mutual concern, the two leaders agreed to continue supporting each other at multilateral forums, actively working with ASEAN member countries and China to promote negotiations on a substantive and effective Code of Conduct in the East Sea (COC), in accordance with international law and the United Nations Convention on the Law of the Sea (UNCLOS 1982).

Thanh Hà
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