Politics

Australia actively implements enhanced economic engagement strategy with Vietnam

The Australia – Vietnam Enhanced Economic Engagement Strategy is helping realise the economic potential exiting between the two nations, the spokesperson for the Australian Department of Foreign Affairs and Trade (DFAT) said on July 22 in response to a question from a Vietnam News Agency correspondent in Sydney.
Australia actively implements enhanced economic engagement strategy with Vietnam ảnh 1President Nguyen Xuan Phuc receives Australian Minister of Foreign Affairs Penny Wong. (Photo: VNA)
Sydney (VNA) – The Australia – Vietnam EnhancedEconomic Engagement Strategy is helping realise the economic potential exiting betweenthe two nations, the spokesperson for the Australian Department of Foreign Affairsand Trade (DFAT) said on July 22 in response to a question from a Vietnam NewsAgency correspondent in Sydney.

According to the spokesperson, the Australian Government isworking with industries to implement activities in support of the strategy’sobjectives to double two-way investment and become each other's top ten trading partners.

The spokesperson said Australia and Vietnam sharea commitment to reaching net zero by 2050, citing Australian Minister forForeign Affairs Penny Wong’s statement that the transition to cleaner,affordable energy is an economic opportunity that both countries are eager toseize.

"Australia is doubling its commitment to climate finance fordeveloping countries in the Indo-Pacific to 2 billion USD over the 2020-2025period. In addition to this, we are supporting farmers in Southeast Asia withdrought- and flood-resistant rice varieties that increase their harvests, andhelping farmers trial approaches that reduce the greenhouse gas emissions fromtheir rice fields," the spokesperson said.

The Australian government has confirmed publicly that it respectsthe Agriculture Visa agreement already signed with Vietnam and is in discussionwith the Vietnamese Government on how to deliver on this commitment./.
VNA
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