Vietnam - Australia Unlocking Opportunities in Agrifood and Education

2:18:52 PM | 4/5/2023

In 2022, the two-way trade between Vietnam and Australia reached AU$23.5 billion, an increase of 27% compared to 2021. Especially, the two-way trade in agriculture, fisheries and forestry products for the first-time surpassed AU$6 billion in 2022.

Vietnam’s seafood exports to Australia recorded impressive growth in 2022 

A roadshow series on Vietnam and Australia Unlocking Opportunities in Education and Agrifood was recently held in Hanoi, Hue and Da Nang on the 50th anniversary of diplomatic relations between Vietnam and Australia.

Expanding opportunities for agricultural trade cooperation

The opening event in Hanoi on March 27 was a conference session on agrifood, with the participation of more than 400 businesses, organizations, associations and agencies of Australia and Vietnam.

Ms. Tran Huong, Marketing Director of the Australian Trade and Investment Commission (Austrade), said that Vietnam and Australia had a strong and long-term relationship in education and agriculture, and would continue to expand in all areas.

Both countries are forging deeper links in agricultural trade and investment, education partnerships, agriculture technology, education technology and research.

“Vietnam has been one of Australia's fastest-growing trading partners in recent years, and the two-way trade between in 2022 increased by about 27% year-on-year, to around AU$23.5 billion. Australia has become Vietnam's 7th largest trading partner, and Vietnam is now Australia's 10th largest trading partner," said Ms. Tran Huong.

Bilateral trade in agriculture, fishery and forest products surpassed the AU$6 billion milestone for the first time in 2022, more than doubling in the past two years.

At the event, Australian and Vietnamese businesses explored opportunities for commercial growth. The Australian delegation of 19 businesses in the fields of meat, fruit, dairy and beverage was provided with a clearer picture of Vietnam's potential market. Vietnamese enterprises were able to learn about the capacity of the agriculture sector as well as quality products from Australia.

Australia's premium dairy, seafood, wine, fruit and meat exports provide the Vietnamese domestic market with greater diversity and help Vietnam become a famous culinary destination, further reinforcing Vietnam's attractiveness to international tourists.

Australia's Ambassador Andrew Goledzinowski stated that this program would strengthen cohesion and expand opportunities for Australian and Vietnamese partners in agriculture and education. This program is expected to make a significant impact on trade between Vietnam and Australia, by opening up new opportunities in education and agriculture. The series of seminars would create partnerships that would benefit both countries.

300 training programs

Referring to the series of educational seminars organized by Austrade in Vietnam, Ms. Tran Huong said that education cooperation between Vietnam and Australia had developed rapidly and deeply in recent decades, starting with the scholarship program.

This is reflected in the large number of Vietnamese students studying in Australia and an increasing number of Australian educational institutions offering programs and research cooperation with educational institutions in Vietnam.

There are 300 training programs, which include articulation and joint training programs between Australian and Vietnamese institutions.

More than 80,000 Vietnamese alumni who graduated from Australian education institutions are currently working in Vietnam. Vietnam is the fifth largest market in the field of international education in Australia, with 27,000 students studying in Australia and more than 8,000 Vietnamese studying for Australian degrees in Vietnam.

Austrade will organize seminars in six provinces and cities in Vietnam including Hanoi, Hue, Da Nang and Ho Chi Minh City, Nha Trang and Can Tho in 2023. This series of seminars will create many opportunities for businesses and organizations of the two countries.

Source: Vietnam Business Forum