4:22:23 PM | 30/6/2009
The government of Vietnam said on June 25 on its Website that Prime Minister Nguyen Tan Dung has ratified the Australia-ASEAN-New Zealand free trade agreement as part of its efforts to expand trade.
Under AANZFTA, the ASEAN bloc, Australia and New Zealand all pledged to remove 90 per cent of tariffs and agreed to set up a non-tariff measure mechanism.
Vietnam will have many chances to buy low-cost machinery and materials from Australia and New Zealand.
Last year, Vietnam’s trade with Australia was US$5.6 billion while its trade with New Zealand was US$300 million. (chinhphu.vn)
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