Vietnam - Australia: Bringing Bilateral Relationship to New Heights

 

The declaration aims to build on previous successes, to deepen and expand the strong relations between Australia and Vietnam, to deliver on the principles outlined above that will benefit the region. It also provides a framework for enhancing the relationship across 5 key areas including bilateral cooperation; regional and international cooperation; economic growth, trade and industry development; development assistance; defence, law enforcement and security ties.

Australian Ambassador to Vietnam Mr Hugh Borrowman said that the declaration provides a high-level strategic framework for a deeper and broader relationship going forward. It has a new emphasis on economic diplomacy – supporting global prosperity through Australia’s diplomatic assets – and builds on key areas of strength in our bilateral relationship such as the education sector, and development cooperation. It also promotes newer areas of cooperation such as on legal, agricultural, and environmental and climate change issues. 

 

The declaration said Australia and Vietnam will continue to bring a greater strategic focus to the bilateral relationship and to promote high-level engagement. Both sides recognise the importance of high-level political dialogue in promoting bilateral cooperation, and continue to increase the exchange of high-level visits and working-level dialogue between the Communist Party, Government and National Assembly of Vietnam and the Parties, Government and Parliament of Australia. Australia and Vietnam highly value their bilateral relationship in the agricultural sector and will continue to explore opportunities to deepen this mutually beneficial cooperation in areas such as food standards and safety, quarantine and agricultural research. Australia and Vietnam recognise the importance of environmental protection and responding to climate change, and will continue to look for opportunities to cooperate in these areas. Australia and Vietnam agree to explore possibilities for bilateral cooperation in other fields such as finance, information and communication, natural resources and environment and consular matters.

 

Australia and Vietnam will seek to expand their mutually beneficial scientific collaboration including under the auspices of the bilateral Agreement on Scientific and Technological Cooperation. Australia and Vietnam will seek to expand their strong education and training partnership. Australia is the leading provider of government scholarships to Vietnam and the first-choice destination for Vietnamese students studying abroad. Both countries are committed to cooperating in the vocational education and training sector and strengthening educational linkages through partnerships between education institutions and, in particular, implementation of the New Colombo Plan.

 

Both countries continue to focus on collaboration based on mutual benefit, encourage greater private sector involvement in both countries’ economy, develop and promote bilateral trade and investment in key sectors such as infrastructure and urban development, housing, transport and logistics, mining and energy, manufacturing, mechanical engineering, water and sanitation, food and agricultural products processing, agriculture, aquaculture, fisheries, footwear, textiles, electronics, and financial, education, legal, telecommunications and other services.

 

Australia and Vietnam will encourage greater bilateral foreign direct investment. Both sides are committed to continuing the exchange of information on standards, regulations, technical requirements for exporting and importing products, and the removal of unnecessary duplication of controls which will propel the economic ties between the two countries. Both countries are committed to pursuing more open trade and investment, including through participation in the World Trade Organisation, APEC, Asia-Europe Meeting, and the Cairns Group and by implementation of the AANZFTA.

 

Australia and Vietnam are committed to enhancing cooperation and will continue efforts to reach a prompt conclusion to the TPP and RCEP negotiations. Both nations recognise the economic benefits of these regional economic integration initiatives and their importance in facilitating participation in global supply chains. Both countries also recognise the importance of, and opportunities presented by, the ASEAN Economic Community.

 

Both countries will work together to encourage greater private sector involvement in their respective economies, including by sharing experiences and knowledge on economic reform and policy issues. To this end, both countries recognise the importance of bilateral exchanges on issues such as structural reform, competition policy and market transparency, and the role these can play in promoting economic development.

 

Australia and Vietnam will work bilaterally and in regional fora to address skills gaps and enhance the mobility of students, professionals and workers.

 

Australia will continue to assist Vietnam to implement its Socio-Economic Development Strategy (2011-2020), including through the three breakthrough areas of promoting human resources and skills development; improving market institutions; and infrastructure development.

Australia will continue to assist Vietnam to take advantage of opportunities arising from integration into the regional and global economy. Australia will continue to help Vietnam progress towards achieving its development aspirations, and its stated goal of becoming a basically modern oriented-industrialised country by 2020.

 

Australian assistance will continue to help build Vietnam’s economic growth and resilience, and improve capacity to participate competitively in global trade. Australia will also support Vietnam’s efforts to ensure that ongoing growth benefits the whole population, including women, children, the poor and the disadvantaged. Australia will support Vietnam in implementing economic diplomacy through sharing experiences and capacity building activities.

 

Australia and Vietnam will maintain regular ongoing dialogue on development assistance, to agree on priorities for assistance and review the progress and performance of our development cooperation.

 

Later this year, Vietnam and Australia will also sign a revised plan of action which outlines the practical steps towards our new and refocused priority areas of cooperation.