Malaysia's Ambassador to Vietnam has urged both countries to capitalize on initiatives such as the Regional Comprehensive Economic Partnership (RCEP) agreement to boost bilateral trade.

The RCEP, signed at the 37th ASEAN Summit hosted by Vietnam in 2020, positions the Asia-Pacific region as the new center of global trade, with total trade expected to reach almost US$42 billion (RM189.2 billion).

As the world's largest free trade agreement, covering 15 countries and 2.2 billion people, member countries can benefit from the absence of about 90% of tariffs among themselves. There’s an optimism that the relations between Malaysia and Vietnam would continue to grow, especially within the framework of ASEAN, highlighting Vietnam as one of the most attractive destinations for foreign investors.

Bilateral trade between Malaysia and Vietnam has been on an upward trajectory, with total trade reaching US$19.44 billion in 2022.

Malaysia established diplomatic ties with Vietnam in 1973, and in commemoration of the 50th anniversary of their diplomatic relations.