Vietnam-NZ Trade to Reach US$190Mln this Year

Annual trade between Vietnam and New Zealand is likely to reach US$190 million this year and will exceed US$200 million in 2006, according to the first meeting of the Vietnam-New Zealand Economic and Trade Joint Committee recently held in Wellington.

 

The two sides are workings towards signing an agreement on avoidance of double taxation, expanding scientific and technological cooperation and speeding up the negotiation over Vietnam’s entry to the WTO.

 

New Zealand authorities have also pledged to continue to provide ODA to Vietnam and consider Vietnam as one of the two most important aid recipients in South East Asia. New Zealand’s ODA for Vietnam will increase from US$3.3 million in the fiscal year of 2004-05 to US$10 million in 2007-08.

 

Vietnam has so far attracted 11 investment projects from New Zealand with total registered capital of US$44.4 million. Of the capital, US$12.3 million has been put into operation.