Australia and Việt Nam set to deepen economic ties

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VIETNAM, December 21 –

Australian Ambassador to Việt Nam Robyn Mudie and Deputy Minister of Planning and Investment Trần Quốc Phương presented the strategy for enhanced economic engagement of Australia and Vietnam at the meeting. – Photo courtesy of the Australian Embassy

HÀ NỘI – The governments of Australia and Việt Nam on Tuesday released a strategy to unlock significant opportunities for businesses in both countries.

The Australia-Vietnam Enhanced Economic Engagement Strategy sets out a roadmap for increasing trade and investment opportunities, forging closer ties between the two countries. The strategy is unique, the first of its kind for Việt Nam and Australia, and reflects the mutual interests of the two countries.

During a meeting in Hà Nội with the Deputy Minister of Planning and Investment, Trần Quốc Phương, Ambassador of Australia to Việt Nam Robyn Mudie, said: “We are proud to have made this strategy public. in partnership with Việt Nam. our confidence in our common economic future. With this strategy, we can revive our economies and prosper together. “

“Our economies are very complementary. Australia is a reliable supplier of the services and raw materials that Vietnamese exporters need, and our consumers appreciate Vit Nam’s high quality products at home and in the workplace. There is enormous potential to take this relationship even further. as we come out of COVID-19.

“The Strategy will help guide our two countries on a path of inclusive and sustainable growth.”

During the meeting, Deputy Minister Phương said: “The economic potential between Australia and Việt Nam is great. This strategy will be essential to realize this potential.

“This demonstrates our commitment to promote economic, trade and investment ties in key sectors and will help support economic recovery from the COVID-19 pandemic.”

In their prefaces to the strategy, Vietnamese Prime Minister Phạm Minh Chính and Australian Prime Minister Scott Morrison endorsed the plan as an important step in achieving the two countries’ common goal of becoming the top ten trading partners and doubling bilateral investments.

Australian Prime Minister Scott Morrison said: “Together Australia and Việt Nam are doing great things. We share a strong, optimistic and forward-looking agenda.

“This strategy is a clear recognition of what is possible when we work together. I am delighted to recommend this strategy to the government, businesses, investors and innovation communities of Australia and Việt Nam, and to all who will work together to advance its goals. “

Prime Minister Chính said: “Since the official establishment of bilateral diplomatic relations in 1973, the friendship and cooperative relations between Việt Nam and Australia have developed strongly. The Australia-Vietnam Enhanced Economic Engagement Strategy demonstrates the ambition and aspirations of the governments of our two countries. and people. “

To support Australian and Vietnamese businesses, the strategy outlines a series of practical and mutually beneficial initiatives to deepen trade and investment linkages in key sectors, including agriculture, education, energy, services and the digital economy.

The strategy also stresses the importance of strengthening the rules-based global trading system as the basis for open international trade and of working together to address economic challenges and coercive economic practices. —VNS


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