Australian Trade Mission to Visit Vietnam Next April
Exporters from the Australian Capital Territory (ACT) is set to survey Vietnamese market next April to seek more partners as they have considered Vietnam as potential export market, Vietnam News Agency reported.
This is part of its 10-day tour to the two Asian countries of Malaysia and Vietnam to promote trade cooperation.
The visit aims to seek new business opportunities in Vietnam and promote existing relationships with Malaysia, said the ACT Chief Minister Jon Stanhope.
The delegation will also be keen on education and other service industries like defense and information technology.
Currently, Australia is Vietnam’s seventh biggest trade partner and fourth largest importer of Vietnamese exports. Bilateral trade soared to US$4.56 billion last year, up from US$32.3 million in 1990.
In the first seven months this year, the bilateral trade volume reached US$3.6 billion, accounting for 80 per cent of 2007’s trade value. Australia has recently recognized the market economy of Vietnam. This year the bilateral trade is forecast to hit US$8 billion.
Australia has invested into 174 projects with registered capital totaling US$1.01 billion and financed US$500 million, ranking the 17th among 81 countries and territories investing into Vietnam. (VNA, VOV)
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