The Philippines and Vietnam have since 1976 forged robust trade relations, with total trade amounting to US$6.18 billion in 2022
At the outset, let’s get clear on definitions.
A strategic partnership builds a relationship between nations or organizations such as militaries, but they are less formal than alliances and can be short-term and do not involve a treaty.
The North Atlantic Treaty Organization is an alliance between the U.S. and 28 other countries. Closer to home, we have the Mutual Defense Treaty with the U.S. that binds us to come to each other’s aid in the event of an armed attack.
The recent two-day state visit of President Marcos Jr. to Vietnam was perhaps too brief, but it managed to enhance nearly five decades of bilateral ties toward a strategic partnership encompassing a broad range of cooperation on mutual interests and concerns.
President Marcos held meetings with key Vietnamese leaders.
He discussed with President Vo Van Thoung how they could expand cooperation in such the fields of defense, maritime security, trade and investment, tourism, education and culture.
They also witnessed the exchange of agreements between the two countries on rice, agriculture, culture and maritime cooperation.
The leaders of the two countries also signed a memorandum of agreement on maritime cooperation amid their territorial disputes with Beijing over parts of the South China Sea.
The memorandum of understanding on maritime cooperation between the coast guards of the Philippines and Vietnam seeks “to strengthen understanding, mutual trust and confidence of cooperation… towards the promotion, preservation, and protection of their mutual interests in the Southeast Asian region.”
This agreement would allow both countries to better manage conflicts in the contested waters and conduct activities “in accordance with principles of international law, the national laws of each party, and international conventions to which both Vietnam and Philippines are parties.”
The maritime deal aims to establish a comprehensive partnership between the two nations’ coast guards on capacity building, training, and personnel and ship exchanges, all to improve their ability to operate together.
Marcos also held separate meetings with Vietnam Prime Minster Pham Minh Chinh and National Assembly Chairman Vuong Dinh Hue, where they discussed expanded people-to-people exchanges and parliamentary cooperation.
In his meeting with Vietnamese business leaders, the President said the group expressed their interest in expanding their businesses in the Philippines as well as exploring cooperation with our business sector in various traditional and non-traditional economic activities. The Philippines and Vietnam signed an agreement that would allow private Vietnamese traders to supply Filipino counterparts with up to 2 million metric tons of rice annually for five years at fair prices.
The President’s dialogue with the VinGroup Company opened up possible collaboration to explore in the fields of artificial intelligence, medical courses and scholarships for Filipino students. Other topics they discussed included active participation in the electric vehicle and battery supply chains.
At the same time, Marcos said he successfully safeguarded the interest of Filipino businesses operating in Vietnam by providing them with the platform to voice their experiences, plans, and challenges at the very highest level.
He assured them that the Philippine government stands ready to support in their endeavors in competing foreign markets.
The chief executive also met with the Filipino community in Vietnam, and expressed appreciation for their good work in projecting a very positive image of the Philippines in Vietnam and for contributing to the socio-economic development of the two countries.
There are an estimated 7,003 Filipinos in Vietnam. In 2022, overseas Filipino workers’ (OFW) remittances amounted to US$13.7 million.
Also signed during the visit was another MOU on a five-year cultural cooperation program between the Philippines’ National Commission for Culture and the Arts of the Republic and Vietnam’s Ministry of Culture, Sports and Tourism.
The program expands the exchanges established under a similar accord signed in 1998.
Formal diplomatic relations between the Philippines and Vietnam span 47 years since its formal establishment on July 12, 1976, with the two countries elevating their relations to a strategic partnership in 2015.
The Philippines and Vietnam have since 1976 forged robust trade relations, with total trade amounting to US$6.18 billion in 2022.
Exports between the two countries were valued at US$1.72 billion, while imports amount to US$4.46 billion.
With Vietnam, the Philippines has established a strategic partnership that’s likely to grow even stronger in the years ahead for our mutual benefit.
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