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Vietnam seeks to beef up trade, investment ties with Australia

Christian Fernsby |
Vietnamese Ambassador to Australia Nguyen Tat Thanh paid a working visit to Victoria State to conduct activities to promote trade and investment cooperation between Vietnam and Australia.

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The ambassador met with leaders of the Melbourne Chamber of Commerce, Australian Trade and Investment Commission (Austrade), RMIT University, LinFox Group, rhe Vietnamese Entrepreneurs’ Association in Australia, and Vietnamese community in Victoria.

Working with Australian partners, Ambassador Thanh underlined that the Vietnamese economy has a high level of openness, especially when new generation free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has become operational and the Regional Comprehensive Economic Partnership (RCEP) is to take effect.

Trade between Vietnam and Australia reached a record of 10 billion USD in the first half of 2021, representing 50 percent rise year on year.

The ambassador held that the results revealed that Australian consumers prefer Vietnamese products.

Australian partners agreed that the Vietnamese and Australian economies can supplement each other. Vietnam is a promising destination for Australian firms, they noted, stressing that Australia welcomes Vietnamese investors. â–