Vietnam, Philippines elevate ties to enhanced strategic partnership, target over $10bn in trade

The upgrade was announced in a joint statement issued following talks between Vietnamese Party General Secretary and State President To Lam and Philippine President Ferdinand Romualdez Marcos Jr. in Manila on Monday during the Vietnamese leader’s state visit to the Philippines from May 31 to June 1.

The 22-point statement outlined cooperation across key areas, including politics, economic ties, maritime affairs, security and defense, people-to-people and cultural exchanges, and regional and international engagement, as agreed during the leaders’ talks.

In the political sphere, the two sides agreed to maintain regular high-level engagements and establish new cooperation mechanisms between legislative bodies and local governments through regular exchanges, information sharing, and sharing of best practices.

On economic cooperation, the leaders noted that Vietnam and the Philippines are among the world’s fastest-growing economies and stressed the need for deeper economic ties to strengthen resilience and competitiveness.

They expressed a shared ambition to raise bilateral trade past $10 billion in the near future by expanding market access, boosting two-way trade, and reducing trade and investment barriers.

This target is well above the $7.7 billion recorded in 2025.

Vietnam is currently the Philippines’ 11th-largest trading partner, while the Philippines ranks as Vietnam’s 6th-largest trading partner within ASEAN and its 16th-largest globally, according to Dien Dan Doanh Nghiep (Business Forum) magazine.

The two sides encouraged stronger public-private partnerships and collaboration in emerging fields such as science and technology, innovation, digital transformation, advanced technologies, energy, manufacturing, creative economy, and green economy.

Both countries reaffirmed their commitment to advancing regional economic integration within ASEAN and building an inclusive, resilient, and sustainable ASEAN Economic Community.

On the agricultural front, the two sides pledged to promote joint research, technology transfer, and expert exchanges, while strengthening food security, improving food-processing capacity, and enhancing supply chains to better withstand global challenges.

The two leaders called for closer cooperation in combating illegal, unreported, and unregulated (IUU) fishing through information sharing, capacity building, fisheries management, and law enforcement coordination.

They were committed to promoting sustainable and inclusive tourism while expanding bilateral tourism ties.

In maritime affairs, the leaders agreed to strengthen existing mechanisms and explore collaboration in marine scientific research, hydrography, maritime connectivity, and the conservation of international waters.

Relevant agencies were tasked with reviewing and improving visa policies for seafarers to facilitate travel between the two countries in line with domestic laws and ASEAN frameworks.

On security and defense cooperation, both sides agreed to maintain high-level exchanges between defense and security agencies, deepen strategic dialogue, enhance information sharing, and increase ship visits and joint activities to address maritime security challenges.

The two countries will also expand cooperation in defense industries, military medicine, logistics, defense trade, search and rescue, humanitarian assistance and disaster relief, maritime and aviation security, counterterrorism, and peacekeeping operations.

They further pledged to strengthen coordination in promoting and upholding international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS).

The two sides agreed to strengthen law enforcement cooperation and step up efforts to combat transnational crime, including illegal migration, human trafficking, online fraud, cybersecurity threats, and cybercrime.

Both countries reaffirmed their commitment to implementing the 2024-29 Cultural Cooperation Program, covering areas such as copyright protection, libraries, archives, literature, cultural heritage preservation, museums, creative industries, and the performing arts.

They pledged to facilitate favorable conditions for Vietnamese citizens in the Philippines and Filipinos in Vietnam to live, work, and study, while strengthening labor cooperation to protect the rights and welfare of migrant workers.

At the regional level, the leaders reaffirmed their support for ASEAN Community-building efforts, particularly as the Philippines prepares to assume the ASEAN chairmanship in 2026.

They welcomed the upcoming ASEAN Future Forum 2026 in Hanoi as a platform contributing to regional dialogue and cooperation during the Philippines’ ASEAN chairmanship.

They also commended the signing and adoption of an ASEAN leaders’ declaration on maritime cooperation at the 48th ASEAN Summit in Cebu, the Philippines.

The two sides underlined ASEAN's consistent position on the East Vietnam Sea, stressing the importance of maintaining peace, stability, security, and freedom of navigation and overflight, resolving disputes peacefully, and respecting international law, particularly UNCLOS.

They maintained their respective positions on the 2016 ruling of the Arbitral Tribunal on the East Vietnam Sea, stressing the need for all parties to exercise self-restraint and avoid activities that could escalate tensions and affect peace and stability in the sea area.

Both sides insisted on the full and effective implementation of the Declaration on the Conduct of Parties in the East Vietnam Sea and supported efforts to achieve an early conclusion of a substantive and effective Code of Conduct in line with international law, particularly UNCLOS.