Vietnam and Malaysia Aim for $20 Billion Trade Target by 2026

Vietnam and Malaysia are intensifying efforts to reach a bilateral trade target of $20 billion by 2026. As of the end of the third quarter of 2026, the total trade volume between the two nations had already reached $17.4 billion, surpassing the total for the entire year of 2025, according to the Vietnamese Ministry of Industry and Trade. The total trade volume for 2026 is expected to exceed the initial forecast of around $18 billion.

This growth reflects a significant increase in both exports and imports. Vietnam's exports to Malaysia amounted to approximately $5.675 billion, marking a 46.4% increase compared to the same period in 2025. Meanwhile, imports from Malaysia reached $11.720 billion, a rise of 43.2% year-on-year.

“The total trade volume between Vietnam and Malaysia has already reached $17.4 billion, surpassing the total for the entire year of 2025.”Vietnamese Ministry of Industry and Trade

The two countries have a history of strong economic ties, with average annual trade growth of 8.52% from 2015 to 2025. In 2025, trade between Vietnam and Malaysia was valued at $16.33 billion, setting a foundation for the current ambitious target. The ongoing discussions between leaders of both nations, including a recent call between Vietnam's Prime Minister Pham Minh Chinh and Malaysia's Prime Minister Anwar Ibrahim, emphasize the importance of enhancing bilateral cooperation.

In addition to trade, the two countries are expanding collaboration in sectors such as oil and gas, agriculture, education, digital transformation, renewable energy, and science and technology. The Comprehensive Strategic Partnership between Vietnam and Malaysia underlines their commitment to deepening economic ties and addressing mutual challenges.

As part of their strategy, both nations are also enhancing maritime cooperation, which includes improving port connectivity and logistics services, as well as sustainable management of marine resources.

“The Comprehensive Action Program for 2026-2030 aims to provide a new impetus for bilateral cooperation.”Dato' Tan Yang Thai, Malaysian Ambassador to Vietnam

Dato' Tan Yang Thai, Malaysia's Ambassador to Vietnam, highlighted the significance of the Comprehensive Action Program (POA) for 2026-2030, which aims to provide a new impetus for bilateral cooperation. The POA will focus on trade, investment, and people-to-people exchanges, further solidifying the strategic partnership between the two countries.

With these developments, Vietnam and Malaysia are poised to strengthen their economic relationship and achieve their trade goals, reflecting a broader trend of increasing regional integration within ASEAN.