(VOVWORLD) - The Presidents of Vietnam and the Philippines have agreed to enhance economic collaboration between the two countries to soon raise two-way trade to 10 billion USD.
 President Vo Van Thuong (R) hosts a welcome ceremony for his Philippine counterpart Ferdinand Romualdez Marcos Jr., Hanoi, January 30, 2024. |
During talks in Hanoi on Tuesday, President Vo Van Thuong and his Philippine counterpart Ferdinand Romualdez Marcos Jr. said that this target should be met by easing trade barriers, facilitating exports, optimizing trade agreements in the region, and encouraging businesses to invest in such sectors as processing, high-tech agriculture, infrastructure, and oil and gas.
They agreed to strengthen cooperation in politics and diplomacy through the exchange of visits and contacts at all levels, and work together to set out an action program to implement the strategic partnership for 2025-2030. Cooperation should be expanded to new, important fields like digital economy, green economy, digital transformation, circular economy, and renewable energy, they said.
The two sides consented to work together in responding to climate change, addressing pollution, reducing carbon emissions, treating plastic waste, among others.
President Marcos Jr. thanked Vietnam for its readiness to ensure stable and long-term rice supply to the Philippines, and highly valued the signing of a memorandum of understanding (MoU) on rice trade as part of his trip, which he believed will contribute to ensuring food security and forging solidarity between the two countries.
 President Vo Van Thuong and President Ferdinand Romualdez Marcos Jr. hold talks. |
The leaders agreed to strengthen collaboration in national defense and security, and shared the view on the importance of maritime cooperation. They also agreed to expand cooperation in other important spheres like education, culture, and tourism, and people-to-people exchange.
The Philippine President affirmed his support for Vietnam’s hosting of the Asia-Pacific Economic Cooperation (APEC) Forum in 2027.
The leaders were committed to maintaining and promoting peace, security, stability, safety and freedom of navigation and overflights in the East Sea.
They called on parties to exercise self-restraint, not to use force or threaten to use force, fully respect diplomatic and legal processes, and address disputes by peaceful measures in line with the basic principles of international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).