adminHANOI: Vietnam-Malaysia trade is on track to surpass US$18 billion by 2026, bringing the US$20 billion target closer to being achieved as both sides work to open up new export opportunities, particularly in the halal market, the Vietnam News Agency (VNA) reported .
Bilateral trade more than doubled from US$7.4 billion in 2015 to US$16.33 billion in 2025.
In the first half of 2026, the amount reached US$10.8 billion, comprising Vietnamese exports worth US$3.4 billion and imports worth US$7.4 billion.
Vietnamese Trade Counsellor in Malaysia Phung Van Thanh said Malaysia remains one of Vietnam’s major trading partners in ASEAN and globally.
However, Vietnam’s exports lagged behind imports, causing the country to record a trade deficit of US$5.67 billion with Malaysia in 2025 and almost US$4 billion in the first six months of 2026.
Vietnam’s exports to Malaysia grew at an average annual rate of 3.89 percent between 2015 and 2025, reaching US$5.33 billion last year. Main products include machinery, electrical equipment, mechanical products and production materials. No Vietnamese export product to Malaysia has yet recorded an annual trade value of US$1 billion.
On the other hand, imports from Malaysia grew at an average of 11.48 percent per year over the same period, reaching US$11 billion in 2025, mainly involving machinery, equipment, petroleum products, computers, electronic goods and components.
Thanh identified halal certification as one of the main challenges, but at the same time offering great opportunities for Vietnamese exporters.
Malaysia, with a population of approximately 34.2 million people, 60.4 percent of whom are Muslim, is a major market for halal food and among the five largest importers of halal food among members of the Organisation of Islamic Cooperation (OIC), with annual imports exceeding US$20 billion.
Malaysia’s domestic halal food market is estimated to be worth US$50 billion, while the Halal Industry Master Plan targets domestic halal consumption worth US$113 billion by 2030 and seeks to position the country as a global Islamic economic hub.
Vietnam has great potential to explore this market as the country is among the world’s top 10 exporters of important agricultural products such as rice, coffee, cashew nuts, pepper and medicinal herbs.
More than 80 percent of Vietnam’s plant-based agricultural products naturally meet basic halal requirements.
Thanh said the development of products that comply with halal standards could help Vietnamese companies overcome export barriers and contribute to achieving the US$20 billion bilateral trade target, with US$25 billion per year as the long-term target.
However, companies still face challenges in obtaining certification due to limited experience, lack of specialized consulting services and differing requirements between Islamic markets.
In Malaysia, the Malaysian Islamic Development Department (JAKIM) implements strict certification procedures, including document reviews, on-site inspections of production facilities and supply chains, provision of dedicated staff to ensure halal compliance, and employee training.
Foreign companies also have to bear the travel and accommodation costs of the inspection team, thus increasing the cost of certification.
In this regard, strengthening halal certification capabilities and efforts to help Vietnamese companies meet international standards can be a key factor in bridging the trade gap and opening up greater export potential in the Malaysian market.
— BERNAMA-VNA
