PM calls for efforts to raise Vietnam–Australia trade to 20 billion USD
Hanoi (VNA) – Prime Minister Pham Minh Chinh suggested Vietnam and Australia discuss ways to boost two-way trade to the 20 billion USD target, especially via the opening of markets and facilitation of exports from both countries.
The leader made the suggestion at a reception in Hanoi on August 20 for Australian Minister for Foreign Affairs Penny Wong, who is in Vietnam to co-chair the 7th Vietnam - Australia Foreign Ministers’ Meeting.
PM Chinh commended Minister Wong for her contributions and effective cooperation between the two foreign ministries in advancing Vietnam - Australia relations.
He extended greetings to Australian leaders, and once again congratulated his Australian counterpart Anthony Albanese on the Labour Party’s victory in the May 2024 general election. He also expressed hope to host Albanese in Vietnam soon.
The host expressed pleasure at the rapid and substantive progress of the bilateral Comprehensive Strategic Partnership. The two sides have been rolling out joint projects and activities under their Action Plan on schedule. Two-way topped 14 billion USD in 2024, supported by reciprocal market openings for farm produce. Vietnam exported passion fruit to Australia for the first time, while Australian plums entered the Vietnamese market. Registered FDI from Australia has exceeded 3 billion USD, and Australia has raised its official development assistance for Vietnam to 96.6 million AUD.
Looking ahead, he said there remains vast potential for cooperation. He urged both sides to continue effectively carrying out the Action Plan, hold regular dialogues and consultations to fortify political trust.
The host suggested further expanding defence and security cooperation, particularly in cybersecurity, digital transformation and equipment support to enhance Vietnam’s capacity. Sharing Vietnam’s vision on sci-tech, innovation and digital transformation, he hoped to see breakthroughs in collaboration in these fields, especially in human resource training and biomedical technology.
Wong expressed her honour to visit Vietnam at a time when the country is preparing to celebrate the 80th anniversary of its founding, noting that this is an important moment for both nations to reflect on history and shape future cooperation.
She affirmed that the Australian Government attaches great importance to Vietnam’s role in the region as well as to bilateral relations, and wishes to discuss measures to further deepen the partnership, based on common views and visions on bilateral, regional, and international issues.
Wong pledged to make efforts to advance the sides’ Comprehensive Strategic Partnership, including strengthening defence and security ties, expanding collaboration in science and technology, digital transformation and innovation, education and training, and human resources development through ODA projects and investment funds.
She also committed to enhancing bilateral coordination to contribute to regional peace, stability, and cooperation, and upholding respect for international law, while underlining the importance of maintaining peace, stability, safety, and freedom of navigation and overflight, in line with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS)./.
