Deputy Minister Nguy​en Th​e Ph​uong (right) and First Assistant Secretary Philip Green sign a record of the transcript of the meeting​ (Photo courtesy Australian Embassy in H​anoi)
Canberra (VNA) - The Vietnamese and Australia governments on March 31 held their High-Level Consultations on Development Co-operation to discuss results of their long-term development co-operation and the importance of its transformation into an economic partnership.

 

The biennial High Level Consultations were led by Philip Green, First Assistant Secretary, South East Asia Mainland and Regional Division, Department of Foreign Affairs and Trade (Australia), and Vietnamese Deputy Minister of Planning and Investment Nguyen The Phuong.

Accordingly, the two countries gained key achievements for the 2015-17 development co-operation, including due completion of the Cao Lanh Bridge late this year, encouraging progress in developing three new initiatives - Aus4Reform, Aus4Transport and Aus4Water - to develop a strong and competitive private sector in Vietnam.

They also noted the effective commencement of the new Aus4Skills initiative in 2016, which will continue to deliver the prestigious Australia Awards Scholarships as well as a new range of flexible human resource development support packages and support for women’s economic empowerment, including preparation for the new Aus4Equality and Investing in Women initiatives.

“Vietnam has been an important partner of Australia in the region for a long time, and our commitment to development cooperation with Vietnam is ongoing,” Green said.

Given Vietnam’s tremendous achievements in socio-economic development, it is now time to transform the relationship into an economic partnership, based on mutual benefit and shared challenges,” he added.

The economic partnership is expected to be built on the principles of commitment to pursuing shared economic interests as outlined in the Plan of Action 2016-2019, encouraging a dynamic private sector, fostering greater business and market access opportunities, empowering women in the economy and promoting environmentally sustainable growth.-VNA