Australian experts optimistic about prospects of cooperative relations with VN

This represents an optimistic assessment put forward by a number of Australian experts and scholars whilst talking to the media about the co-operative relationship between the two countries on the occasion of Prime Minister Pham Minh Chinh and his wife’s attendance at the ASEAN-Australia Special Summit to commemorate the 50th anniversary of ASEAN-Australia dialogue relations starting from March 5 at the invitation of Australian Prime Minister Anthony Albanese.

Professor Emeritus Hal Hill of the Crawford School of Public Policy under the Australian National University (ANU) assessed that both nations currently have a very close relationship, with a large Vietnamese community living, working, and studying in Australia.

Bilateral trade has seen strong development in recent times. According to the Professor, Australia views the Vietnamese side as an economic "star" of the Asian region which is of paramount importance.

From being one of the poorest countries in the world in the 1980s, after pursuing the Doi Moi (Renewal) process Vietnam has risen to become one of the fastest growing economies in Asia, with especially fast growth recorded in this century.

From a low-income country, Vietnam has now become a middle-income economy, attracting plenty of international investors.

Professor Hal Hill said that in the future the country will welcome more investors from all over the world.

Although there remain challenges ahead, Professor Hal Hill remains optimistic about the future of the Vietnamese economy, emphasising that for him Vietnam is one of the most impressive success stories.

Also appreciating Vietnamese developments and the Vietnam-Australia relationship, expert Greg Earl, former member of the Australia-ASEAN Council and former correspondent Southeast Asia for "The Australia Financial Review", commented that mutual relations have been one of the most prominent chapters in Australia's regional foreign policy over recent years.

The two countries have found more space for co-operation, both in the fields of security and economics, with the pace of co-operation being much faster than many people predicted. Vietnam has also become a stable and reliable diplomatic partner.

Moreover, the Vietnamese community in Australia has played a big role in promoting co-operative relations and creating stronger bonds between the two countries.

Earl believes that in order to maintain and further strengthen the current sound relationship, the two countries should ramp up bilateral ties, as well as within the framework of the ASEAN-Australia relationship to improve economic and security relations.

The two countries should also seek to intensify people-to-people exchanges in the fields of education and employment, he said, adding that based on the fields of both nations, two-way economic links need to be created, similar to those that Australia has long had with North Asian countries.