Australia pledges AUD105 million support for Vietnam

Talks were held between Prime Minister Pham Minh Chinh and his Australian counterpart Anthony Albanese in Hanoi on June 4 following a welcome ceremony for the Australian Government leader held on the same day.

At the talks,  the Vietnamese Government chief highlighted the great significance of Anthony Albanese's first official visit to Vietnam in his capacity as Prime Minister of Australia in the context both nations celebrating the 50th anniversary of their diplomatic relations, and the 5th anniversary of the strategic partnership, thus creating a new impetus for the two countries' relations moving forward.

PM Chinh also congratulated Australia on its socio-economic development achievements, and thanked Australia for always accompanying and supporting Vietnam in the cause of national construction and development. He emphasized that Vietnam always attaches importance to and wishes to strengthen its friendship and cooperation with Australia.

For his part, PM Anthony Albanese congratulated Vietnam on its tremendous achievements in socio-economic recovery and development, thereby enabling Vietnam to become one of the 40 largest economies in the world and have an increasingly important role and position in the international arena.

Australia attaches great importance to the strategic partnership relationship with Vietnam and identifies Vietnam as the center in the process of building Australia's relationship strategy for Southeast Asia, Albanese told his host.

The two PMs showed their elation to see that the two countries' relations are growing steadily and effectively across a variety of fields. Notably, the Action Program aimed at implementing the Strategic Partnership for the 2020-2023 period has achieved many specific results.

Trade cooperation is viewed as a bright spot, with last year's two-way turnover reaching nearly US$16 billion, up 30% on-year and the two countries have become one of the top 10 trading partners of each other.

Security and defence cooperation is increasingly effective and substantive, especially in training and supporting UN peacekeeping operations, combating transnational crimes and cybercrimes, while cooperation in agriculture, education-training, labor and people-to-people exchanges has greatly progressed.

The two sides agreed to strengthen the exchange of delegations and high-level meetings on the Party, National Assembly and Government channels, intensify people-to-people exchanges, and carrying out the Action Program in the new period.

This is addition to continuing to promote economic, trade and investment cooperation, thereby effectively implementing the plan for  Enhanced Economic Engagement Strategy (EEES) for the 2021-2025 period.

Both sides consented to enhance the connection between the two economies, and step up cooperation in defence, security, justice and other important fields such as ODA, education and training, science and technology, labor, transportation, tourism, climate change response and digital transition.

In that spirit, the two sides concur to accelerate the upgrading of relations to a comprehensive strategic partnership at an appropriate time.

The Vietnamese cabinet leader affirmed that Vietnam will create favorable conditions for Australian businesses to invest in Vietnam in infrastructure development, telecommunications, finance-banking, education, and hi-tech agriculture, green transformation, digital transformation, and the building of population data system.

He asked Australia to offer optimal conditions for Vietnamese businesses to invest in Australia in the fields of mining, agriculture, e-commerce, aviation and tourism.

Chinh also asked Australia to facilitate market expansion for Vietnamese exports, highly appreciated Australia's increase of 2.5% ODA to Vietnam in the 2023-2024 fiscal year and suggested that ODA cooperation be an important element in the comprehensive strategic partnership in the future.

In response, PM Anthony Albanese stated his nation's desire to continue expanding security and defence cooperation with Vietnam, while affirming continued maintenance of ODA cooperation with the Southeast Asian nation. He agreed to promote two-way investment cooperation, continue to increase scholarships for Vietnamese students, and to review the 1995 Aviation Agreement to increase the number of flights between the two countries in the time ahead.

He consented to actively materialize cooperation in digital economy, and digital transformation, and announced an aid package of AUD105 million (US$69.4 million) for cooperation with Vietnam in infrastructure development, climate change response and energy transition.

The two government leaders concurred to continue boosting cooperation and close coordination at multilateral forums, especially the UN, the Association of Southeast Asian Nations (ASEAN), and the Asia-Pacific Economic Cooperation (APEC).
PM Anthony Albanese affirmed that Australia greatly values the Australia-ASEAN Comprehensive Strategic Partnership and always supports ASEAN's central role, adding that his nation will help put Vietnam at the center of its Southeast Asia Economic Strategy to 2040 that the Australian side is developing as well as continue to augment cooperation in the Mekong sub-region.

PM Chinh emphasized Vietnam's support for Australia to organize the 50th ASEAN-Australia Summit in Australia with effective and practical content, while the Australian PM voiced his support for Vietnam in hosting the APEC 2027 year.

Regarding the situation in the East Sea, the two leaders underscored the importance of maintaining and promoting peace, security, stability, safety and freedom of navigation and aviation in the East Sea, enhancing dialogue and trust, and settling disputes by peaceful means, in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

On the occasion, PM Anthony Albanese cordially invited his Vietnamese counterpart Pham Minh Chinh to pay an official visit to Australia at an appropriate time in 2023 and his invitation was graciously accepted.

The same day, Prime Minister Pham Minh Chinh and his Australian counterpart Anthony Albanese witnessed the signing of cooperation documents and co-chaired a press briefing on the outcomes of their talks.

The Vietnamese cabinet leader said the talks were a success with both sides acknowledging the sound and effective development of both nations’ relations. The two countries also shared a common vision on a peaceful, stable, open and inclusive Indo-Pacific region and the central role of ASEAN, he went on to say.

The two PMs reached agreement on directions to step up bilateral cooperation, and accelerate the implementation of the Vietnam-Australia Enhanced Economic Engagement Strategy (EEES) towards the goal of raising bilateral trade value to US$20 billion and doubling two-way investment.

They also consented to bolster cooperation between educational establishment of the two countries, and hold discussions towards a tourism cooperation agreement.

Host and guest reached a consensus on expanding collaboration in climate change response, digital transformation, green transition and circular economy development.  

Vietnam and Australia will continue to coordinate and offer mutual support at multilateral forums, especially the UN, ASEAN and ASEAN-led mechanisms, Chinh said, adding that  Australia defines that Vietnam plays a central role in ASEAN.

The two sides also reiterated the importance of ensuring peace, stability, security, safety and freedom of navigation and aviation on the East Sea, and of settling disputes by peaceful measures in conformity with international law, particularly the 1982 UN Convention on the Law of the Sea (UNCLOS 1982), Chinh said.

PM Albanese stated that both sides will ramp up cooperation across the fields, especially in addressing challenges in security and climate change. He said Australia will assist Vietnam in energy transition, and provide Vietnam with AUD105 million to devise plans for sustainable development and development of clean energy and mining. Australia will also expand its support programme for Vietnam in agriculture.

Albanese said he is glad to witness the exchange of cooperation deals, and noted that the community of over 300,000 Vietnamese in Australia have contributed to Australia’s economic development and ties between the two countries.

Earlier, the two PMs witnessed the exchange of cooperation documents, including an MoU between Vietnam’s Ministry of Science and Technology and Australia’s Department of Foreign Affairs and Trade (DFAT) on cooperation in science, technology and innovation; an MoU between Vietnam’s Ministry of Industry and Trade and the DFAT on establishing a ministerial-level dialogue on trade; an MoU between the State Bank of Vietnam and the Australian Transaction Reports and Analysis Centre (AUSTRAC) on exchanging information on money laundering and terrorism financing; an MoU between the University of Economics Ho Chi Minh City (UEH) and the Western Sydney University (UWS) on the latter’s provision of 70 scholarships for Vietnamese students and a learning area at UWS’s Vietnam campus.

Also on the occasion, Vietnam Airlines received a licence and announced the launch of the Hanoi – Melbourne route, and Vietjet Air received a licence and announced the launch of its service between Ho Chi Minh City and Brisbane.

The two PMs also spent time browsing a photo display on Vietnam, Australia and bilateral cooperation held by the Vietnam News Agency in coordination with the Government Office.