Strengthening Cooperation with New Zealand in Agriculture

In recent years, agricultural products are an important part of trade between New Zealand and Vietnam. New Zealand exports to Vietnam mainly dairy products (52 percent), and wood products (11 percent). The food items and beverages, including nuts, fish and coffee, are the main products that Vietnam exports to New Zealand.

New Zealand and Vietnam have effective cooperation in the fields of agriculture and trade. The two countries are participating in the Free Trade Agreement ASEAN - Australia - New Zealand, and are currently involved in negotiations for the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership.

 

Through the aid programme, New Zealand has helped Vietnam agriculture with projects focused on developing value chains in agriculture and animal husbandry in order to bring benefits to farmers, and build capacity for small and medium enterprises, based on the experiences and expertise of New Zealand.

 

H.E Haike Manning, New Zealand Ambassador to Vietnam, said, "This is the very first visit of New Zealand Special Envoy to Vietnam, which reflects the growing importance New Zealand places on its relationship with Vietnam in agriculture and agricultural trade. Next year, New Zealand and Vietnam will celebrate 40 years of diplomatic relations, an opportunity to celebrate the friendship and strengthen ties further, especially in agriculture sector where both Vietnam and New Zealand have strengths and potential for further growth bilateral trade.”

 

During a visit to Vietnam, HE Mike Petersen met with the Minister of Agriculture and Rural Development Cao Duc Phat, Minister of Planning and Investment Bui Quang Vinh, to discuss the process of restructuring the agricultural sector of Vietnam and the development of the dairy industry. He also visited some traditional markets and supermarkets in Hanoi and Ho Chi Minh city to learn about the distribution channels for agricultural products in Vietnam.

 

In recent years, two-way trade turnover between Vietnam and New Zealand has developed continuously with remarkable results. According to statistics, in the past five years, two-way trade turnover increased from US$300 million in 2009 to US$750 million in 2013, with a growth rate of 20 percent per year. By the end of September 2014, merchandise trade between the two countries reached US$590 million, up 14 percent compared to the same period in 2013, in which exports from Vietnam to New Zealand reached US$310 million, up 20 percent and imports of Vietnam from New Zealand reached US$280 million, up 7.8 percent. As of November 2014, New Zealand has 25 valid investment projects in Vietnam with total registered capital of US$81.96 million with implemented capital of US$44.23, ranking 42/101 countries and territories investing in Vietnam, while Vietnam's investment in New Zealand reached US$87 million.

 

Earlier, in mid-November 2014 in the capital of Wellington, New Zealand, the Ministry of Foreign Affairs of New Zealand and the Ministry of Industry and Trade of Vietnam has organised the 5th meeting of the Joint Committee on Economics and Trade between the two countries. At the meeting, the two sides discussed priority areas and measures to promote cooperation through agreements, memorandums of understanding and bilateral agreements, and agreed to cooperate closely through the trade promotion agencies to work together to find new ways to promote the activities of the enterprises of the two countries, striving to bring two-way trade in goods and services between the two countries to US$1 billion by the end of 2015.