President Ferdinand ‘Bongbong’ Marcos Jr. and Vietnamese Prime Minister Pham Minh Chinh have agreed to boost relationship in areas including defense, trade, investment, agriculture, and maritime security.
The two met in a bilateral meeting on the sidelines of the 40th and 41st Southeast Asian Nations (ASEAN) Summit in Phnom Penh, Cambodia on Thursday, Nov. 10.
“As we have observed, the Philippines and Vietnam since the beginning of our diplomatic relationship have had a burgeoning a growing relationship both in the political and security side and of course in terms of trade and in people-to-people exchanges,” Marcos said in a speech, as quoted by the Office of the Press Secretary (OPS).
He said he regarded Vietnam as an “important partner” in ensuring food security, citing that the country’s 90 percent of rice import comes from them.
Marcos also stated that the total trade between the two countries has risen by over USD 6 billion.
However, he noted a “significant trade imbalance'' which he hoped that Vietnam leaders would help address.
“In the past few years, we have seen the great success, the great economic success that Vietnam has enjoyed and with that even Filipino investors have started to go to Vietnam to be part of this development in your country and since then our trade has increased,” Marcos said.
In regards to maritime interests, the President said he wished for continued "intelligence and strategies exchanges" with Vietnam when dealing with maritime concerns.
Also during the meeting, Marcos pointed out the need for ASEAN leaders to “find common ground” in addressing matters such as tensions in Taiwan and the crisis in Myanmar.
