Malaysia, Vietnam promote cooperation in trade

A memorandum of understanding to supply oil for producing electric equipment was signed between Vietnam’s Dong Anh Electric Equipment Manufacture Joint Stock Company (EEMC) and Malaysia’s oil company, Hyrax Oil Sdn Bhd in Hanoi on Apr. 23.

Under the MoU, over the next three years, Hyrax Oil Sdn Bhd will provide EEMC with at least 5.1 million litres of oil at a total cost of 7 million USD.

The signing took place in the presence of the Malaysian Ministry of International Trade and Industry’s Trade Commission.

In the recent past, the Malaysian Trade Commission has actively promoted trade between the two countries, especially cooperation between businesses from both countries.

Many Malaysian and Vietnamese business delegations have visited each other’s country and participated in major trade expos, as well as trade exchange programmes.

The Malaysian Trade Commission plans to arrange for Malaysian business delegations to join two large trade fairs in Vietnam, the International Trade Fair in HCM City and the medical services and equipment fair. It will also invite Vietnamese businesses to visit Malaysia’s Mihas exhibition, a food exhibition for Muslims, in May and the Intrade fair in November.

Many Malaysian businesses showed their interest in getting involved in construction projects, water treatment plants and infrastructure facilities including power plants, sea ports, expressways and airports in Vietnam.

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