Vietnam, Australia Look to Enhance Trade, Tourism and Investment Ties

Minister for Trade, Tourism and Investment of Australia Dan Tehan visited Vietnam from July 13 to 14 to seek to improve economic ties between the two countries.

During the visit, Minister Tehan met with State President Nguyen Xuan Phuc, Deputy Prime Minister Pham Binh Minh and Chair of the Central Economic Commission Tran Tuan Anh. Minister Tehan also held talks with his counterparts, Trade and Industry Minister Nguyen Hong Dien, and Planning and Investment Minister Nguyen Chi Dung.

“Australia’s trade relationship with Vietnam is one of our fastest growing partnerships, expanding an average 8.6% a year for the last 20 years,” Minister Tehan said. “To add further momentum, we’re developing a joint Enhanced Economic Engagement Strategy, which together we will make every effort to conclude in early October. The strategy will help exporters on both sides find new markets and customers, assisting our economic recovery from COVID-19.”

Minister Tehan also met with leading Australian investors in agribusiness, financial services, mining, manufacturing and education, and a number of Vietnamese companies looking to enter the Australian market or expand business links with Australian firms. He oversaw the signing of an MOU between the Vietnam Chamber of Commerce and Industry (VCCI) and the Australian Chamber of Commerce in Vietnam (AusCham) to establish a new Business Council of leading investors from both sides to promote business cooperation.

Minister Tehan also highlighted Australia’s commitment to share 1.5 million COVID-19 vaccine doses with Vietnam by the end of 2021. These doses complement Australia’s $40 million package of support for Vietnam’s vaccine rollout and will make an important contribution to Vietnam’s recovery from COVID-19.

By Giang Tu, Vietnam Business Forum