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Vietnam, Australia need to develop more balanced trade: PM

Vietnam and Australia need to develop bilateral trade in a more balanced way by promoting the export of Vietnamese products to the Southwest Pacific nation, Prime Minister Pham Minh Chinh said while receiving Australian Minister for Trade and Tourism Don Farrell in Hanoi on April 17.
Vietnam, Australia need to develop more balanced trade: PM ảnh 1Prime Minister Pham Minh Chinh (R) and Australian Minister for Trade and Tourism Don Farrell at their meeting in Hanoi on April 17. (Photo: VNA)
Hanoi (VNA) – Vietnam and Australia need to developbilateral trade in a more balanced way by promoting the export of Vietnameseproducts to the Southwest Pacific nation, Prime Minister Pham Minh Chinh saidwhile receiving Australian Minister for Trade and Tourism Don Farrell in Hanoion April 17.

Farrell is on a working visit in Vietnam toco-chair the third Vietnam-Australia Economic Partnership Meeting together withVietnamese Minister of Planning and Investment Nguyen Chi Dung, which tookplace on the same day.

Being informed by the guest on the sound outcomesof the meeting, PM Chinh recommended the minister to work closely withVietnamese competent agencies to effectively implement the results and theVietnam - Australia Enhanced Economic Engagement Strategy (EEES) announced inDecember 2021.

The host and guest reviewed and laudedachievements in the bilateral ties as this year marks the 50th foundinganniversary of their diplomatic relations, which was upgraded to a strategicpartnership in March 2018. In their meeting earlier this month, VietnamesePresident Vo Van Thuong and Australian Governor-General David Hurleyagreed to exchange views on the upgrade of the relationship to acomprehensive strategic partnership at an appropriate time in the future.

Last year, bilateral trade hit 15.7 billion USD,up nearly 27% year on year. Vietnam is now Australia’s 10th biggesttrading partner and Australia is Vietnam’s 7th largest trading partner. 

Vietnam is implementing three strategicbreakthroughs – institutional building, human resource and infrastructuredevelopment, PM Chinh said, noting that in the process, the country has alwaysreceived support from Australia.

He took this occasion to thank Australia forassisting Vietnam in COVID-19 prevention and control and socio-economicrecovery.

The PM proposed Australia make it easier forVietnamese electronic, footwear, textile, and agricultural products to accessits market and give a boost to a number of fields where both nations havestrength such as education-training, digital economy, innovation, renewableenergy, labour, tourism, people-to-people exchange, and high-tech farming.

Vietnam, Australia need to develop more balanced trade: PM ảnh 2At the meeting (Photo: VNA)
He hoped that Farrell, in his post, will makecontributions to fostering the bilateral trade and cooperation towardseffectiveness and practical outcomes, helping the two sides fully tap theirpotential.

PM Chinh expressed his wish that Australia willshare experience to help Vietnam build an independent, self-reliant economy inassociation with extensive and effective international integration,particularly in the fields of innovation, capital support, technology,personnel training, and management experience serving such areas as digitaleconomy, green economy, circular economy, energy transition, and climate change.

He asked the minister to convey his invitation to the Australian PM to visit Vietnam at an appropriate time.

Agreeing with the host's suggestions, Farrell saidhe will collaborate with Vietnamese ministries and agencies to realise the PM’swishes.

He affirmed that Australia wants Vietnam to play amore important role in the country’s trade partner diversification strategy andact as a bridge to promote its relationship with the Association of SoutheastAsian Nations (ASEAN)./.

VNA

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