Vietnam further strengthen all-around ties with Australia

During the meeting with Australian Minister for Trade and Tourism Don Farrell in Adelaide, the Vietnamese diplomat applauded Australian efforts to boost and diversify its economic relations with partners in Southeast Asia, as well as with Vietnam in particular, by implementing various practical initiatives and projects under Australia’s Southeast Asia Economic Strategy towards 2040.

He used the occasion to urge Minister Farrell to continue supporting Australian businesses’ investment in the Vietnamese market, especially in areas where Australia has strengths and the nation boasts potential.

Deputy PM Son also suggested the two sides intensify people-to-people exchanges and open more direct flights between the two nations.

For his part, Minister Farrell said that there remains plenty of room and potential for Vietnam and his country to further expand their economic, trade, and investment relations. He underlined the need for the two sides to effectively carry out the Joint Statement on upgrading their relationship to that of a Comprehensive strategic partnership, especially the "economic connectivity" pillar, with an aim to become each other’s top 10 trade partners, as well as doubling two-way investment capital as set in the Enhanced Economic Engagement Strategy (EEES).

The Australian business community is becoming increasingly interested in the Vietnamese market, he said, adding that the Vietnamese community in Australia has been making significant contributions to the socio-economic development of the Oceanian nation, as well as serving as an important bridge for bilateral co-operation.

According to the Australian Minister, his side will continue supporting the nation in terms of high-quality infrastructure, digital infrastructure, climate-resilient infrastructure, agriculture, and minerals; as well as developing small- and medium-sized enterprises (SMEs) and human resources. It will also ramp up collaboration with the country at multilateral trade mechanisms such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).

After the meeting with the Australian official, the Vietnamese diplomat attended and delivered a speech during a workshop hosted by the Australia - Vietnam Policy Institute (AVPI).

He hailed the AVPI's role in advising the leadership of the two sides to identify a "new mindset, new vision, and new actions" for joint relations in the future, saying that the institute’s activities have contributed to boosting ties and exchanges, as well as further deepening mutual understanding between the two nations.

Deputy PM Son affirmed that mutual relations are at their best stage, offering inspiring stories and standing at a new starting point, which further opens up vast opportunities for stronger collaboration.

He therefore voiced his hope that the two countries will continue to open their markets to maximise the benefits of the co-operation frameworks and new-generation FTAs that both are members.

The Vietnamese Deputy PM highlighted the AVPI's role in advising the leadership of the two sides to identify a "new mindset, new vision, and new actions" for future relations, saying that the institute’s activities have contributed to promoting linkages and exchanges, as well as enhancing mutual understanding between the two countries.

He affirmed that ties are at their best stage, offering inspiring stories and standing at a new starting point, which further opens up vast opportunities for stronger co-operation efforts.

He expressed his hope that the two countries will continue to open their markets to maximise the benefits of the established frameworks and new-generation FTAs that both are members.

He used the occasion to urge Australian businesses to continue investing in the Vietnamese market in a quality and sustainable manner, particularly in the green economy, the digital economy, the circular economy, innovation, semiconductor manufacturing, new energy, essential minerals, green finance, biotechnology, health care, high-tech agriculture, and in training high-quality human resources.

In his address, Minister Farrell emphasized that Australia considers ASEAN to be an important economic partner of Australia, with Vietnam being one of their priority focuses in the region.

Australia established a US$1.3 billion fund to boost two-way trade and investment with Southeast Asia, he said, adding that it will continue to support the clean energy transition and infrastructure development occurring in the region.

Meanwhile, Vietnamese Minister of Planning and Investment Nguyen Chi Dung affirmed that expanding collaboration with Australia is not only a choice but also an important strategy in Vietnam's development process.

The two countries have many complementary advantages, with their co-operation contributing to creating a solid foundation for sustainable growth in the future.

As a means of further promoting the two countries’ Comprehensive strategic partnership and fully tapping into the potential for co-operation, the Minister proposed key orientations in the joint relationship, including collaboration in clean and sustainable energy, technology and innovation, high-tech agriculture, education, and development ties.

Earlier on the same day, the Deputy PM and FM Bui Thanh Son visited the University of Adelaide in South Australia, one of the eight most prestigious universities in Australia.

At the meeting with the university's managers, lecturers, and outstanding Vietnamese students, FM Son stressed that education has served as a bridge between the two sides since the establishment of diplomatic relations. Now, it is one of the most important areas within the framework of the Comprehensive strategic partnership between the two countries.

He stated that the joint statement on upgrading the two countries’ relations to that of a Comprehensive strategic partnership in March has opened up many opportunities for them to strengthen co-operation, especially in the field of education.

FM Son hoped that moving forward, the University of Adelaide will consider increasing the number of scholarships for Vietnamese students, thereby supporting human resource training and capacity building for Vietnamese students. This is along with expanding partnerships and establishing links with Vietnamese partners, including public and private universities, not only in education and training programmes, but also in research and innovation, especially in areas where the school has strengths such as science, programming, health and medicine, environment, and climate change response.

He also stated his hope that the university will consider establishing Vietnamese study centres and its branches or research institutes in Vietnam as part of efforts to ramp up bilateral co-operation in science and technology, especially in emerging technologies such as artificial intelligence (AI), semiconductors, and sustainable and green energy.