(VOVWORLD) - Philippine President Ferdinand Romualdez Marcos Jr. and his wife paid a State visit to Vietnam on Monday and Tuesday at the invitation of President Vo Van Thuong. The visit reaffirms the importance of the bilateral strategic partnership, promotes political trust at the highest level, and serves as a driving force to promote comprehensive cooperation between Vietnam and the Philippines in the coming time.
This is President Marcos’s first visit to Vietnam since taking office in June 2022. The visit takes place with the two countries anticipating the 10th anniversary of the strategic partnership they established in 2015 and the 50th anniversary of the diplomatic relations they established in 1976.
Strong development of bilateral ties
Since the establishment of diplomatic relations on July 12, 1976, relations between Vietnam and the Philippines have developed steadily through maintaining high-level political contacts.
Bilateral trade grew from 2.5 billion USD in 2010 to 5.3 billion USD in 2020. Even during the COVID-19 pandemic trade turnover continued to increase, reaching 6.7 billion USD in 2021 and 7.8 billion USD in 2022. In 2023, the figure remained the same as in 2022.
Vietnamese Ambassador to the Philippines Lai Thai Binh said: "The increase in trade reflects the two countries’ efforts to maintain trade exchanges in a difficult context. The two economies continue to complement each other very closely. In addition to cooperation in cultural exchange and tourism, people-to-people exchanges continue to increase."
The Philippines is currently Vietnam's 6th largest trading partner in ASEAN and 16th in the world and Vietnam's largest rice importer. Vietnam's rice exports to the Philippines contribute to the Philippine government's efforts to ensure food security. As Vietnam is the leading agricultural exporter in the region and the Philippines is the second most populous country in ASEAN, agricultural cooperation between the two countries has a great potential to grow further.
The two sides are accelerating an Action Program to implement their Strategic Partnership for the 2019-2024 period, aiming to raise bilateral trade to 10 billion USD. They are also expanding cooperation in culture, education, and tourism. The volume of tourists has recovered strongly since the pandemic. The two countries have worked closely at international forums and organizations like the UN and ASEAN.
Cooperation priorities
Vietnam and the Philippines share similarities in geography, population size, and level of development as well as many similarities in history, culture, and people. These are an extremely favorable foundation for expanding areas of cooperation.
Ambassador Lai Thai Binh said: "President Marcos's visit to Vietnam is of great importance, affirming the coordination between the two ASEAN members and promoting ASEAN’s central role. The visit will bolster bilateral ties in multiple fields, contributing to the interests of the two peoples and to peace, stability, and development cooperation in the region and the world. This is extremely important with the world undergoing complex developments."
On the foundation of 50 years of good relations, the Philippine President’s visit to Vietnam will strengthen the Vietnam-Philippines Strategic Partnership and the relationship between the two countries’ senior leaders and expand bilateral cooperation in all areas.