Vietnam – Australia cooperate to promote market opening

The 4th meeting of the Working Group on Trade under the framework of the Vietnam – Australia Economic Partnership Ministerial Meeting was held online. Photo: Ministry of Industry and Trade

In order to further promote bilateral trade relations, Vietnam and Australia will continue to cooperate in promoting the process of market opening and facilitating the export of agricultural products and foods with each other’s strengths.

On the morning of March 30, the 4th meeting of the Working Group on Trade under the framework of the Vietnam – Australia Economic Partnership Ministerial Meeting was held online at the headquarters of the Ministry of Industry and Trade.

The meeting was co-chaired by Mr. Tran Quang Huy, Director of the Asia-Africa Market Department, Ministry of Industry and Trade, and Ms. Robyn Mudie, First Assistant, Australian Department of Foreign Affairs and Trade.

At the meeting, the two sides reviewed the implementation of agreed cooperation contents; discussed issues on trade in goods and services, regional and multilateral cooperation, supply chain cooperation and implementation of important cooperation contents in the Strategy to strengthen economic cooperation between Vietnam and Australia EEES).

The two-way turnover between the two countries in 2022 will reach US$15.7 billion, making Australia the 7th largest trading partner of Vietnam.

In order to further promote the bilateral trade relationship, commensurate with the strategic partnership and at the same time move the trade relationship towards a balanced and sustainable direction, the two sides agreed to promote the implementation of a number of cooperation contents. important.

The first is to continue promoting the process of opening the market, creating favorable conditions for the export of agricultural products and foods with each other’s strengths such as passion fruit, pomelo, fresh cut flowers of Vietnam; honey, animal gut shells, Australian kangaroo and venison.

Strengthen trade and investment cooperation in the field of mining and processing coal, liquefied natural gas and minerals; technical cooperation and investment in the field of agriculture.

Cooperation and experience sharing on trade promotion and supply chain; transportation (such as the Aus4Transport program), promoting the signing of the Protocol amending and supplementing the Vietnam – Australia Aviation Agreement.

For multilateral and regional cooperation, the two sides exchanged and shared issues of mutual concern such as effective implementation of RCEP, CPTPP, RCEP; upgrade AANZFTA in 2023; the process of joining CPTPP of some economies; cooperation within the framework of cooperation IPEP, WTO…

The contents of the exchanges and proposals are aimed at bringing practical benefits to the business community, contributing to the consolidation and development of regional and global value chains, and supporting economic recovery in the post-war period. Covid-19, ensuring supply chains, strengthening the rules-based multilateral trading system, promoting regional economic integration.

Regarding cooperation within the framework of the EEES Strategy, the two sides highly appreciated the efforts of the relevant agencies of the two countries, especially the periodical implementation of the Dialogue on Trade Remedies; actively negotiate and develop 2 Memorandums of Understanding on the establishment of a ministerial-level dialogue mechanism on trade, energy and minerals; research and propose to sign a Memorandum of Understanding on digital commerce.

It is expected that the signing of the above 2 Memorandum of Understanding in 2023 will create an important exchange channel for government agencies and the business community to further promote cooperation in the fields of trade and energy. , mineral.

Ms. Robyn Mudie highly appreciated the importance of the 4th Meeting of the Trade Working Group in promoting bilateral economic and trade cooperation and thanked the active coordination of the Vietnamese side.

The contents discussed and agreed at the meeting will be reported to the Vietnam – Australia Economic Partnership Ministerial Conference scheduled to be held in mid-April 2023.

In the first two months of 2023, Vietnam’s total import and export turnover with Australia reached 2 billion USD. In which, Vietnam’s export turnover reached 769.4 million USD, Vietnam’s import turnover from Australia reached 1.2 billion USD.