Creating a breakthrough in financial cooperation between Vietnam and New Zealand

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The Memorandum of Understanding on financial cooperation is signed in the presence of the Prime Ministers of the two countries.

Earlier, Deputy Minister Bui Van Khang had a bilateral talk with Ms. Caralee McLeish.

The two sides discussed in-depth financial cooperation, especially evaluating and orienting priorities and solutions to deepen Vietnam-New Zealand financial cooperation in the new period, aiming to summarizing five years of the 2021-2024 Action Program of strategic partnership and celebrating 50th anniversary of establishing diplomatic ties between Vietnam and New Zealand.

At the meeting, Deputy Minister Bui Van Khang and CEO Caralee McLeish both appreciated the efforts and results of comprehensive cooperation that the Ministry of Finance of Vietnam and the Ministry of Treasury of New Zealand have achieved, including: implementing the Memorandum of Understanding on financial cooperation for the 2021-2023 period, seriously and effectively implementing financial integration commitments in free trade agreements (AANZFTA, RCEP, CPTPP) and multilateral frameworks (APEC, IPEF,...), tax, customs, treasury. Accordingly, the two sides shared views and continued to promoting, creating breakthroughs in financial cooperation between Vietnam and New Zealand.

Ms. Caralee McLeish affirmed that the negotiation and signing of the MoU on financial cooperation at the ministerial level for the 2024 - 2026 period demonstrates the efforts of the two countries' finance sectors in concretizing and identifying major directions and potential for cooperation in the new period, realizing the goal of enhancing dialogue and technical cooperation in management and planning of financial - budget - fiscal policies. The New Zealand Ministry of Treasury strongly agrees with the cooperation areas signed by the two sides in the MoU

Deputy Minister Bui Van Khang also expects the New Zealand Ministry of Treasury to focus on supporting and improving cooperation with Vietnam in areas such as: strategic planning, forecasting and macroeconomic modeling; budget management and financial policy including annual budget process, impact and results-based budgeting, public debt management; tax policy, especially when Vietnam's Ministry of Finance is in the process of researching and comprehensively amending tax laws, which will impact the investment environment;

The Deputy Minister affirmed that the Ministry of Finance of Vietnam is committed to continuing to strengthen cooperative relations, strive to create breakthroughs, and effectively deploy bilateral cooperation frameworks in the financial sector with the New Zealand Ministry of Treasury.