Vietnam, Australia eye to step up trade, investment cooperation

Vietnamese Ambassador to Australia Pham Hung Tam has had a meeting with Australian Minister for Trade and Tourism Don Farrell to discuss opportunities for promoting trade and investment cooperation between the two countries.

Farrell valued the positive developments in bilateral relations, especially the upgrade of relations to a comprehensive strategic partnership during Prime Minister Pham Minh Chinh’s official visit to Australia in March. He expressed his delight at the achievements in economic, trade, investment, and tourism cooperation between the two countries.

Vietnam, Australia eye to step up trade, investment cooperation
Vietnamese Ambassador to Australia Pham Hung Tam (R) and Australian Minister for Trade and Tourism Don Farrell (Photo: VNA)

The host welcomed the enhancement of people-to-people exchanges between the two countries and pledged to engage with relevant authorities to create favourable conditions for Vietnamese students to study in South Australia.

Ambassador Tam mentioned the potential for economic, trade, investment, and tourism cooperation between the two countries, saying that in 2024 many delegations of localities and enterprises will visit Australia to seek opportunities for trade and investment promotion.

According to the diplomat, as many as 97,500 Australian tourists visited Vietnam in the first two months of 2024, equal to 25% of the total in 2023. The two countries have operated additional direct flights, thus further boosting the number of two-way tourists.

He proposed specific initiatives to promote economic, trade, and tourism cooperation between the two countries, including opening up markets for Vietnamese agricultural products, enhancing cooperation between retail associations, and intensifying collaboration in developing green economy and renewable energy.

Source: VNA

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