The agreement was reached during the talks in Hanoi on October 17 between Deputy Prime Minister Nguyen Thien Nhan and Malaysian Deputy Prime Minister and Minister of Education Tan Sri Muhyiddin Yassin.

Nhan said he hopes the visit made by his counterpart at a time when the two countries are celebrating the 40th anniversary of diplomatic ties will contribute to deepening mutual understanding, trust and the growing cooperation between the two nations.

He congratulated Malaysia on its recent achievements and expressed his belief that Malaysia will be successful in its new economic model and 2020 vision to earn an increasingly important position in the region and wider world.

The Malaysian Deputy PM said he is impressed by the positive changes Vietnam has made after nearly 30 years of carrying out the Doi Moi (renewal) process, particularly the achievements in human resources development and poverty reduction.

Host and guest praised closer political ties shown through the exchange of high-level visits and meetings, and agreed to direct relevant ministries and agencies to soon convene the fifth session of the joint committee.

They showed their satisfaction with the effective cooperation in economics, trade and investment. Bilateral trade has posted year-on-year increases, reaching nearly US$8 billion in 2012.

Malaysia should intensify investment in Vietnam focussing on the construction of hotels and new urban areas, the manufacturing of electronic equipment and electrical appliances, and seafood processing, Nhan said.

The Malaysian Deputy PM said he supports the continued imports of Vietnamese rice, which will be done through a to-be-signed agricultural cooperation agreement. He agreed to deploy high-level deals reached in the fields of security-defence, labour, oil and gas, education-training, agriculture, aquaculture, and sea issues.

Both sides had high appreciation for education and training cooperation, considering it a potential field that will deliver practical benefits to the two countries when they are keen to develop high-quality human resources to serve their socio-economic development strategies from now to 2020.

After the talks, Minister of Education and Training Pham Vu Luan and the Malaysian guest signed a memorandum of understanding (MoU) on tertiary education cooperation to create a legal foundation for boosting bilateral cooperation.

VOV