Australia and Vietnam deepen economic cooperation

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Prime Minister Anthony Albanese and Party General Secretary and State President To Lam issued a Joint Statement on Deepening the Comprehensive Strategic Partnership between Australia and Vietnam on priorities including economic engagement, climate, energy and science.

The two leaders also issued a Joint Statement on Economic Resilience Cooperation and a Joint Statement on Science, Research and Innovation.

The agreements announced on August 11 will strengthen economic ties and create new opportunities for businesses in both countries.

Ministers of Trade signed an agreement to deepen cooperation in the digital economy, including supporting cross-border trade to promote e-commerce and create opportunities for Australian businesses in digital health and banking services.

The visit also saw Vietjet announce direct flights between Ho Chi Minh City and Western Sydney International Airport. Flights will begin in January 2027, operating twice a week, before increasing to three services a week from March.

Australia and Vietnam also agreed to continue to strengthen existing cooperation on agriculture and sustainable development, including biosecurity, food safety and aquaculture.

Australia secured agreement for the recommencement of market access for Australian game meat, including kangaroo meat.

Both countries are working towards closer health cooperation, which will see Australia supporting medical research, pandemic preparedness, and rural and remote healthcare in Vietnam.

Education remains one of the strongest links between Australia and Vietnam.

A new MoU on vocational education and training will support Australian providers to deliver industry-focused training in Vietnam.

Australia also welcomed Vietnam's approval of an investment licence for RMIT University, allowing it to establish a new campus in Hanoi.

PM Albanese, said, "Vietnam is one of Australia's closest partners in our region and our relationship continues to go from strength to strength.Today's agreements will make it easier to do business, create new opportunities for trade and investment, strengthen education and research links, and bring our countries even closer together. More flights, more trade and stronger education links are good for Australian jobs, Australian businesses and our economy."

Minister for Foreign Affairs Penny Wong, said, "Our economic partnership with Vietnam contributes not only to the prosperity of our two countries, but to a stronger and more resilient region. By deepening trade and investment links, we are helping build shared prosperity in an increasingly uncertain world."

Australia seeks market access for kangaroo meat and lychees in Vietnam Australia is seeking market access for kangaroo meat and lychees in Vietnam, with Australian Ambassador to Vietnam Gillian Bird calling on the Ministry of Agriculture and Environment to complete its assessment process.

Vietnam seeks stronger Australian investment to support growth target Vietnam's Minister of Finance Ngo Van Tuan has called on Australia to accelerate investment and bilateral cooperation programmes, particularly those supporting private sector development, as Vietnam pursues annual economic growth.

HSBC and EFA support Nutifood with VND800bn bridge HSBC Vietnam on May 18 announced a five-year VND800 billion ($31 million) financing facility for Nutifood Nutrition Food JSC to fund construction of a pedestrian bridge across the Saigon River in Ho Chi Minh City, backed by a 90 per cent guarantee from Export Finance Australia (EFA).