VIETNAM, PHILIPPINES EYE US$10 BILLION IN TWO-TRADE

Party General Secretary To Lam meets with Philippine Ambassador Meynardo Los Banos Montealegre (L) in Hanoi - PHOTO: VNA

HCMC – Vietnam and the Philippines should work together to boost annual two-way trade to US$10 billion, Party General Secretary To Lam told Philippine Ambassador to Vietnam Meynardo Los Banos Montealegre during their meeting in Hanoi today, April 24.

Bilateral trade between the two Southeast Asian nations in January-November last year exceeded US$8 billion, showed data from the Import-Export Department at the Vietnamese Ministry of Industry and Trade. Vietnamese news reports said late last year that the Vietnam Trade Office in the Philippines forecast the total in all of 2024 at US$8.5 billion.

At the meeting, Party General Secretary To Lam spoke highly of the ambassador’s efforts in fostering closer cooperation between the two nations and emphasized the significance of 2025, which marks the 10th anniversary of the Vietnam-Philippines Strategic Partnership.

Lam called for greater focus on economic connectivity and proposed the two nations work together to soon achieve US$10 billion in two-way trade. He urged stronger cooperation in economic connectivity, defense, maritime affairs, education, climate change, and disaster response and expressed support for the Philippines’ upcoming ASEAN chairmanship in 2026.

Ambassador Montealegre extended congratulations to the Vietnamese people on the upcoming 50th anniversary of the liberation of the south and the reunification of the nation and the 80th anniversaries of the August Revolution and National Day.

Montealegre said that the Philippine Embassy would continue to coordinate closely with Vietnamese agencies to organize meaningful activities in celebration of the 10th anniversary of the Strategic Partnership in 2025 and the 50th anniversary of diplomatic relations in 2026.

Source: The Saigon Times