MANILA -- President Ferdinand R. Marcos Jr. said on Tuesday that he sees a bright future in the Philippines-Viet Nam relations despite many multilateral issues confronting the region and the global community because of their amicable relations spanning almost 50 years.

In his toast remarks during the state banquet hosted by Vietnamese President Võ Văn Thưởng, Marcos said the common desire to ensure a resilient and responsive global supply chain through increased bilateral trade in the post-pandemic world becomes more pronounced.

The ties the Philippines share with Viet Nam attest to the boundless possibilities that await the two nations when they cooperate to build a resilient world, Marcos said, thanking the Vietnamese leader for giving him the opportunity to reaffirm and advance bilateral relations.

Rekindling the Philippine-Viet Nam ties, the President said it was during the presidency of his father, president Ferdinand E. Marcos, Sr., when the Philippines established diplomatic relations with the Socialist Republic of Viet Nam, and with the former First Lady Imelda Romualdez Marcos laying the groundwork in 1975.

The Philippines-Viet Nam formal diplomatic relations 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 Viet Nam also have strong trade relations, with a 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.

There are an estimated 7,003 Filipinos in Viet Nam. In 2022, Overseas Filipino Workers’ (OFW) Remittances amounted to US$13,683,000. (PND)