Malaysia explores cooperation, investments with Vietnam, Peru at APEC summit

DATUK Seri Anwar Ibrahim today engaged the leaders of Vietnam and Peru, aiming to bolster bilateral cooperation and trade ties during the ongoing Asia Pacific Economic Cooperation (APEC) summit in San Francisco this week.

The Malaysian prime minister’s meetings with Vietnamese President Vo Van Thuong and Peruvian leader Dina Ercilia Boluarte Zegarra at the Moscone Centre delved into various areas of collaboration.

In his meeting with Vo, Anwar concurred on fully adhering to the Declaration of Conduct on the South China Sea and the call for the effective code of conduct of the waters.

Malaysia and Vietnam have enjoyed 50 years of diplomatic ties.

Both leaders agreed to increase cooperation to address illegal fishing in Malaysian waters and reaffirmed their unity within the Association of Southeast Asian Nations (Asean), as well as supporting Laos’ chairmanship of regional grouping in 2024.

Anwar had also sought continuous cooperation and commitment from Vietnam in combating illegal fishing in Malaysian waters, where over 1,000 vessels and 10,000 crews have been recorded operating illegally since 2006.

Vietnam meanwhile requested Malaysia to facilitate halal products from the country, including cooperation on halal certification.

Vo also proposed sister-city cooperation with Malaysia.

Anwar also noted Vietnam’s support for the Jordan-led United Nations General Assembly resolution on Palestine last month.

“Vietnam has taken quite a balanced approach on the conflict (Gaza),” Anwar commented.

Vo conveyed his gratitude to Anwar in the training of 1,500 Vietnamese officials under the Malaysian Defence Cooperation Programme.

The two leaders also expressed their readiness to finalise pending six memoranda – on international prisoner transfer, maritime law enforcement, eradication of human trafficking, defence, new air services agreements, and training of diplomats.

Both leaders also expressed their concerns on the Myanmar crisis and called for the implementation of the Asean’s five-point consensus.

The crisis in Myanmar stems from the military coup on February 1, 2021, leading to the overthrow of the democratically elected government and widespread protests.

More than 3,000 people have been killed since the coup and 200,000 Myanmar nationals have sought refuge in Malaysia.

Meanwhile, Anwar extended an invitation for Vo to visit Malaysia

Bilateral trade between Malaysia and Vietnam stands at US$19.4 billion (RM90.65 billion).

Malaysia is Vietnam’s ninth largest investor, with US$13 billion (RM60.4 billion), involving 701 projects, ranging from real estate, industrial processing, utilities.

Malaysia a gateway for Peru into Asean

During his meeting with Zegarra, Anwar expressed support for Peru’s request to establish a Development Partnership status with Asean. He offered Malaysia as Peru’s gateway to the region.

Both leaders have identified digital economy, renewable energy, palm oil, medical devices, and halal products as potential areas to be explored.

“I look forward to visiting Peru in 2024 for the Apec summit. Malaysia is pleased to host the 4th Malaysia-Peru Bilateral Consultation next year,” said Anwar in noting that Peru will be the host for the summit next year.

Bilateral trade between Malaysia and Peru is presently valued at US$318 million (RM1.4 billion).

Peru’s sole investment in Malaysia is in Asian Oils and Derivatives Sdn Bhd valued at US$1.6 million, producing calcium soap, animal feed supplement and others.

Malaysian investments in Peru meanwhile range from food and beverages and palm oil plantations.

Anwar welcomed increased investments from Peru in the areas of food and beverage and tech start-ups. – The Vibes, November 17, 2023