Prime Minister suggests Viet Nam, Australia promote trade in more balanced manner

10:54:27 AM | 4/19/2023

Prime Minister Pham Minh Chinh urged Australia to increase import of Vietnamese goods in a bid to promote balanced trade between the two countries during his reception for Australian Minister for Trade and Tourism Don Farrell in Ha Noi on Monday.

Prime Minister Pham Minh Chinh (R) hosts a reception for Australian Minister for Trade and Tourism Don Farrell, Ha Noi, April 17, 2023 - Photo: VGP

He asked the Minister work closely with Vietnamese agencies to effectively carry out the outcomes of the third Viet Nam-Australia Economic Partnership Meeting and the Viet Nam-Australia Enhanced Economic Engagement Strategy (EEES) announced in December 2021.

The bilateral trade value hit US$15.7 billion in 2022, up nearly 27 percent against the previous year. Viet Nam is now Australia's 10th biggest trading partner and Australia is Viet Nam's 7th largest trading partner. 

He called on Australia to make it easier for Viet Nam's exports such as electronics, garments, footwear and farm produce to enter the Australian market. 

It is necessary to foster collaboration in all spheres of education-training, digital economy, innovation, renewable energy, labor, tourism, people-to-people exchanges and high-tech agriculture, suggested Pham. 

The host expressed his wish that Australia will share experience to help Viet Nam build an independent, self-reliant economy in association with extensive and effective international integration.

Viet Nam holds a crucial role in Australia's trade expansion and diversification strategy, noted Don Farrell, pledging to coordinate with the Vietnamese relevant agencies to realize directions of the PM. 

He hoped that Viet Nam will play a bridging role in enhancing relationship between Australia and ASEAN and strengthen collaboration with Australia in multi-lateral mechanisms such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Source: VGP