The Australian Government is unlocking more opportunities for Australians to do more business in Vietnam’s $340 billion economy.
The Australia-Vietnam Enhanced Economic Engagement Strategy, published today, sets out a roadmap to boost our trade and investment ties with Vietnam.
Minister for Trade, Tourism and Investment, Dan Tehan welcomed the Strategy as the foundation for Australia and Vietnam’s effort to double investment and become top ten trading partners.
“Whether on the streets of Ho Chi Minh City or on the farms of western Victoria, the Australia-Vietnam economic relationship will provide opportunities for investment and trade,” Mr Tehan said.
“Australia and Vietnam have complementary economies – we are partners more than competitors. Our supply chains are becoming more closely entwined, meaning together we are exporting to markets around the world.”
“The implementation of the Economic Engagement Strategy will unlock mutually beneficial opportunities and boost our trade and investment relationship, especially in key areas such as education, resources, agriculture, manufacturing and digital economy.”
“As both our countries emerge from the pandemic and begin our economic recovery, the strategy presents tremendous opportunities for both our nations.”
In endorsing the Strategy, Vietnam’s Minister of Planning and Investment, H.E. Nguyen Chi Dung noted “success in achieving the common objectives of the Strategy will further enhance the economic position of Vietnam and Australia, contributing to the safety, security and shared prosperity of the Asia-Pacific region”.
The Strategy also highlights the importance of strengthening the rules-based global trading system as the basis for open international trade and working together to address economic challenges and coercive economic practices.
