Philippines, Vietnam vow to raise two-way trade to $10 bn by 2025

02 Feb '24

1 min read

Pic: Adobe Stock

Insights

During Philippine President Ferdinand Romualdez Marcos Jr.'s state visit to Vietnam recently, he and Prime Minister Pham Minh Chinh vowed to raise their two-way trade to $10 billion in value terms by 2025.
They emphasised the need to focus on digital transformation, green economic development, circular economy, climate change response and energy transition.

Philippine President Ferdinand Romualdez Marcos Jr. and Vietnamese Prime Minister Pham Minh Chinh recently vowed to raise their two-way trade to $10 billion in value terms by 2025.

Both met in Hanoi during the former’s official visit to Vietnam.

Marcos Jr. said the Philippines always attaches importance to and expects to lift the bilateral ties to a new height.

To further strengthen bilateral relations, they decided to raise delegation exchanges at all levels, utilise the existing bilateral cooperation mechanisms, comprehensively review the action plan to implement the strategic partnership for the 2019-2024 period and soon build a new action programme for future, a Vietnamese media outlet reported.

They emphasised the need to focus on digital transformation, green economic development, circular economy, climate change response and energy transition.

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