Vietnam, Australia post record high in two-way trade

Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.
Vietnam, Australia post record high in two-way trade ảnh 1Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD. (Source: VNA)

Sydney (VNA) – Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.

Head of the office Nguyen Phu Hoa said that in the first six months of this year, Vietnam exported 2.78 billion USD worth of goods to Australia, 691.35 million USD higher than the same period last year.

The impressive rise was driven by coffee, seafood, steel and electronic accessories, while fruit and vegetable exports increased in the double digits.

At the same time, imports from Australia in the January-June period exceeded 5.23 billion USD, up 41.5% year on year.

With high potential for trade between the two countries, Hoa held that import-export between Vietnam and Australia will continue to rise and may exceed the forecast figure of 15 billion USD in 2022, marking a new record.

The Vietnam Trade Office in Australia will continue to implement trade promotion programmes, while focusing on strengthening digitalisation, especially in the trade of agricultural products, he said.

Hoa underlined that many new Vietnamese products have shown growth potential in the Oceania market, such as frozen fruits, including jackfruits, passion fruits, durian and some spices. The office is studying the economic development programme of the new government of Australia, thus promptly promoting bilateral cooperation in areas of Vietnam's strengths, he added./.

VNA

See more

At the meeting of permanent Government members in Hanoi on May 24. (Photo: VNA)

Reciprocal trade negotiations with US must ensure Vietnam's core interests: PM

The future tasks must ensure Vietnam's core interests while helping consolidate and strengthen the Vietnam-US Comprehensive Strategic Partnership, bringing benefits to both countries and their consumers, and contributing to peace, stability, cooperation, and development in the region and the world, PM Chinh said.

Vietnam and the US hold the second negotiation session of the bilateral agreement on reciprocal trade in Washington D.C from May 19 to 22. - Illustrative image (Photo: VNA)

Vietnam, US look to boost bilateral economic, trade cooperation

Dien stated that Vietnam has a strong and stable demand for US products, equipment, and services, especially in hi-tech and energy sectors. He affirmed Vietnam’s commitment to fostering a transparent and healthy trade environment, noting that Vietnam stands ready to boost coordination with the US side in combating trade fraud, origin fraud, and illegal transshipment.

Ba Son bridge connects downtown Ho Chi Minh City with Thu Thiem urban area (Photo: VNA)

New development momentum for Vietnam’s economic locomotive

For over five decades, the Southeast region has been recognised as Vietnam’s economic and growth engine. At its core is HCM City, flanked by Binh Duong and Ba Ria – Vung Tau, together forming key growth poles not only for the Southeast but for the entire country.