The newswire quoted Luxon’s speech ahead of his departure, saying he expressed optimism about his February 25-28 visit by emphasizing the importance of Vietnam’s economy to New Zealand exporters.

He noted that Vietnam presents a significant opportunity for New Zealand and is the fastest-growing economy in Southeast Asia.

Bilateral trade between the two countries currently stands at approximately US$2.6 billion per year, and he aims to increase this figure to US$3 billion by next year, as Vietnam’s economy is projected to grow by 6.5% in both 2025 and 2026.

Luxon said the two countries have had more than 50 years of strong, diplomatic relations but the New Zealand Government wants to lift its level of engagement with Vietnam.

“A real focus for us is growing the economy,” he said, adding that when one in four NZ jobs is tied to trade, it makes sense to focus on building better relations with countries like Vietnam.

According to The New Zealand Herald, to attract Vietnamese businesses, Luxon brought along a 20-member business delegation to sign several agreements. The delegation includes key representatives from the University of Auckland, AUT, Fonterra, Orion Health Group, Silver Fern Farms, and Zespri.

During his visit, Luxon is not only meeting with Vietnamese business executives but also holding talks with Prime Minister Pham Minh Chinh and engaging with other senior Party and State leaders.

The New Zealand Herald noted that Vietnam’s public and private sectors are closely interconnected. Past visits, such as former Prime Minister Jacinda Ardern’s trip in 2022, have opened investment opportunities for Vietnam in New Zealand businesses.

Last year, at the Asia-Pacific Economic Cooperation (APEC) Summit in Peru, Luxon announced a strategic focus on Asia.

“A big focus for us this year [2024] has been Australia, the Pacific Southeast Asia, and Northeast Asia.

“[In 2026], we’ll focus on India, China and Southeast Asia and we will continue some of the same rhythm as we’ve seen this year.”

Luxon affirmed that he has followed through on this commitment. So far, he has visited Malaysia, the Philippines, Thailand, Singapore, and now Vietnam, with plans to visit Indonesia next.

The New Zealand PM also expressed interest in visiting China this year, with reports indicating that he is expected to travel to Beijing later in the year.

More room to foster New Zealand - Vietnam cooperation, says former Ambassador

VOV.VN - Former New Zealand Ambassador to Vietnam James Kember has emphasized that while Vietnam - New Zealand relations have achieved significant milestones, there is still considerable room to deepen bilateral cooperation.