PM Pham Minh Chinh (L) meets with his Australian counterpart Scott Morrison on the sidelines of COP26. (Photo: VNA) According to a media release issued on November 3, Australian Prime Minister Scott Morrison announced that he and his Vietnamese counterpart Pham Minh Chinh had a discussion on the sidelines of the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow, Scotland, the UK.
They announced the Australia-Vietnam Enhanced Economic Engagement Strategy, which supports Australia and Vietnam’s shared goal to double investment and become top ten trade partners.
The strategy will help both countries take advantage of emerging market opportunities, including in agriculture, energy, services and the digital economy, as the two economies recover from the impacts of the COVID-19 pandemic.
The development of the strategy represents close collaboration and considerable work by both countries, including economic analysis, cross government consultation and recommendations put forward by business stakeholders.
It highlights key sectors in which Vietnam and Australia are uniquely matched to deepen trade - education, skills and training; resources and energy; agriculture, forestry and fisheries; manufacturing; tourism; science, technology and innovation; digital economy; and other services.
An Implementation Plan for the Strategy has been agreed by both governments, providing a roadmap for practical initiatives to deepen trade and investment links in key sectors, over an initial period of 2021-2025./.
VNA
