Trade cooperation has become a crucial pillar in the relations between Vietnam and Australia, a Vietnamese diplomat stated at a regular meeting of the Australia Vietnam Business Council (AVBC) in Sydney on December 4.

Vietnamese Ambassador to Australia Luong Thanh Nghi hailed the Australian business community for taking part in boosting two-way trade between the two countries with Australia now being Vietnam’s 7 th largest exporter and 12 th largest importer.

The number of Vietnamese businesses interested in establishing partnerships in Australia is growing, the diplomat told the AVBC members, confirming that Australian entrepreneurs are encouraged to expand their operations in Vietnam.

In the meantime, the two nations are working closely to introduce a new action plan for 2015-2017 with a view to promoting the bilateral economic collaboration in line with Australia’s economic diplomacy policy, Nghi underscored.

He highlighted that Vietnam hails Australia’s new Colombo Plan in which Australian students will be supported to live, study and work in Vietnam from 2015.

For his part, AVBC President Laurence Stranov expressed his pleasure to see the developing partnership between Vietnam and Australia, especially in education.

He stressed that Australia’s groups and enterprises should promote their business in other key sectors in Vietnam to meet economic potential and two-way trade needs.

AVBC is a forum to connect Vietnamese and Australian enterprises to the goal of broadening investments and trade between two countries.-VNA