Việt Nam, Australia forge economic ties, towards sustainable recovery post pandemic

Head of the Party Central Committee’s Economic Commission Trần Tuấn Anh (right) received Australian Minister of Trade, Tourism and Investment Dan Tehan on Tuesday. — VNA/VNS Photo Phương Hoa

Việt Nam and Australia should work to soon finalise and sign their Enhanced Economic Engagement Strategy this year, to aid a sustainable post pandemic economic recovery, Trần Tuấn Anh, head of the Party Central Committee’s Economic Commission has said.

He made the suggestion during a meeting with Australian Minister of Trade, Tourism and Investment, Dan Tehan, in Hà Nội on Tuesday.

The two countries should aim to become among the top ten trading partners of each other, he said.

Two-way trade between Việt Nam and Australia rocketed by more than 40 per cent year-on-year in the first half of 2021.

Anh said he hopes that Australia will continue to contribute to strengthening the bilateral economic, trade and investment ties between the two countries.

He proposed the two sides capitalise on the opportunities and benefits generated by multilateral free trade agreements to which both Việt Nam and Australia are signatories. For example, ASEAN-Australia-New Zealand Free Trade Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

The Vietnamese Party and State have always attached importance to enhancing the strategic partnership with Australia, extensively and pragmatically, he affirmed, adding that bilateral cooperation is thriving between the two nations.

Anh used the occasion to thank the Australian Government for its supply of 1.5 million COVID-19 vaccine doses to Việt Nam, and called on the Australian side to prioritise Việt Nam as a recipient of the AstraZeneca vaccines manufactured in Australia as soon as possible.

Minister Tehan, for his part, said he was impressed by Việt Nam’s vision and outcomes in economic development and pandemic containment.

Australia will continue to coordinate closely with Việt Nam to promote bilateral cooperation in trade and investment moving forward and to push ahead with the implementation of the 2021-25 Australia-Việt Nam Enhanced Economic Engagement Strategy.

Earlier in his meeting with Tehan, Deputy Prime Minister Phạm Bình Minh suggested Australia could import Vietnamese shrimp balls and passion fruit and showed an interest from Việt Nam in importing ore, coal, iron, steel, and rare earths from the country.

He asked the Government of Việt Nam to back the Australia-Việt Nam Enhanced Economic Engagement Strategy (EEES) and to continue fostering the bilateral trade and investment relationship, with a focus placed on food security, water resources and high-tech industry.

Tehan is on his first visit to Việt Nam, one destination in a two-week tour of five countries, also including Singapore, the Republic of Korea, Japan and the US. These are Australia’s most important trading partners, accounting for around one quarter of its goods and services export turnover. — VNS