Business

Vietnam-Australia trade forecast to set new record this year

Two-way trade between Vietnam and Australia is expected to surpass the projection of 15 billion USD and set a new record in 2022.
Vietnam-Australia trade forecast to set new record this year ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Two-way trade between Vietnam and Australia isexpected to surpass the projection of 15 billion USD and set a new record in2022.

National Assembly (NA) Chairman Vuong Dinh Hue’s ongoingofficial visit to Australia is also hoped to open up new opportunities forbilateral cooperation to turn the bilateral ties into a comprehensive strategicpartnership.

At present, Vietnam and Australia are both members of atleast three free trade agreements (FTAs), namely the ASEAN-Australia-NewZealand FTA (AANZFTA), the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) and most recently the Regional Comprehensive EconomicPartnership (RCEP).

Thanks to these deals, bilateral trade hit 12.4 billion USDin 2021, up nearly 50% against the previous year, and surpassed the 12 billion USDin the first nine months of the year, up 31.5% year-on-year.

According to the Vietnam Trade Office in Australia, thechance for Vietnamese goods to enter the Australian market is very favourable,as the tax rate levied on Vietnam's exports to Australia has been brought down to almost 0%.

Notably, at the end of 2021, Vietnam and Australia signed astrategy to strengthen economic ties with an aim to turn the two countries into the top 10 trading partners of each other and double bilateralinvestment. This is a premise to create favourable conditions for businesses ofthe two countries to expand cooperation.

Chu Thang Trung, Deputy Director of the Trade RemediesDepartment under the Ministry of Industry and Trade, said that expandingexports to the Australian market can help enterprises diversify markets andtake advantage of opportunities brought about by FTAs.

However, it is necessary to prepare solutions to deal withtrade remedy investigations from this market in order to ensure legitimateinterests of enterprises, he stressed, adding that Australia has to date conductednearly 20 trade remedy investigations against Vietnamese exports.

The ministry has promoted coordination among ministries, sectorsand Government agencies at central and local levels in handling trade remedycases, and guided Vietnamese firms to handle these cases more effectively and bettermeet the rules of origin to take advantage of the benefits of the signed FTAs./.
VNA
#Two-way trade #Vietnam #Australia #new record #Vietnamese goods #Vietnamplus #Vietnam News Agency Australia Vietnam
Follow VietnamPlus

Related News

NA Chairman's Australia, New Zealand visits to propel ties with strategic partners

NA Chairman's Australia, New Zealand visits to propel ties with strategic partners

A high-ranking delegation of the Vietnamese National Assembly, led by its Chairman Vuong Dinh Hue, will pay official visits to Australia and New Zealand from November 30 to December 7 at the invitations of Speaker of the Australian House of Representatives Milton Dick, President of the Australian Senate Sue Lines and Speaker of the New Zealand House of Representatives Adrian Rurawhe.
National Assembly Chairman begins official visit to Australia

National Assembly Chairman begins official visit to Australia

National Assembly Chairman Vuong Dinh Hue and the Vietnamese NA's delegation arrived in Canberra on November 29 evening (local time), starting an official visit to Australia from November 30 - December 3 at the invitation of Speaker of the Australian House of Representatives Milton Dick, and President of the Australian Senate Sue Lines.

See more

An overview of the seminar entitled "Opportunities and challenges for market development in Turkish market" (Photo: Ministry of Industry and Trade)

Türkiye offers export potential for Vietnamese food producers: seminar

Türkiye’s target of lifting total exports of goods and services to more than 400 billion USD in 2026 could create additional opportunities for Vietnamese agricultural products, food and beverages, said Ta Manh Cuong, director of the Trade and Investment Promotion Support Centre.

SSC Vice Chairman Bui Hoang Hai speaks at the opening of the programme on July 21. (Photo: VNA)

Vietnam boosts crypto market oversight capabilities

Diederik Van Wersch, Chainalysis' ASEAN Regional Director, noted that Vietnam has a high level of crypto asset adoption, offering significant opportunities for innovation while creating greater demands for oversight and risk management.

Vietnam Railways has introduced a range of tourism, heritage and dedicated train services, attracting growing numbers of passengers. (Photo: VNA)

Railways reinvent themselves with tourism, heritage trains

One of the most notable successes is the premium Hoa Phuong Do (Flamboyant Flower) train operating between Hanoi and Hai Phong city. Since entering service in May 2025, the train has completed nearly 3,000 trips and carried around 1.33 million passengers.

Representatives of relevant parties witness the arrival of the shipment. (Photo: VNA)

First Czech pork shipment officially enters Vietnamese market

A Czech diplomat described the arrival of the first container as the successful outcome of a long and complex market-opening process involving years of negotiations, regulatory approvals and close cooperation between Czech and Vietnamese authorities.

A view of financial buildings in downtown Ho Chi Minh City along the Saigon River. (Photo: VNA)

HSBC: Vietnam’s growth, macroeconomic stability to face tougher test in H2

In a recently released report, Vu Binh Minh, CFA, Associate Director, FX Trading, Markets and Securities Services at HSBC Vietnam, said Vietnam’s economy has built a relatively favourable position in the first six months of the year with GDP expanding 8.18% – the highest first-half growth rate in recent years – as key growth drivers have operated in tandem.

Ha Tay Shoes has secured numerous export orders from the US and European markets. (Photo: VNA)

CPTPP strengthens free trade, expands global economic connectivity

Since taking effect, the CPTPP has significantly expanded Vietnam's access to major markets across North America, the EU, and the Asia-Pacific, contributing to strong export growth in key sectors such as textiles and garments, footwear, and agricultural, forestry and fishery products. The agreement has also encouraged greater investment into Vietnam by promoting regional production networks and clearer rules of origin.

Tan Mingming, Deputy Director of the Foreign Affairs Office of the Dezhou Municipal People’s Government. (Photo: VNA)

Chinese firms put Vietnam on expansion radar

Tan Mingming, Deputy Director of the Foreign Affairs Office of the Dezhou Municipal People’s Government, told Vietnam News Agency reporters that the city has spent years deliberately tightening its links with the Association of Southeast Asian Nations (ASEAN), with Vietnam seen as a key partner.

A perspective of the Viettel Military Industry and Telecoms Group's high-tech semiconductor chip manufacturing plant at Hoa Lac Hi-Tech Park. (Photo: Viettel)

Hanoi builds momentum as Vietnam's semiconductor hub

As Hanoi continues to strengthen its semiconductor ecosystem, the city is creating a new growth driver for both the capital and the country, enhancing Vietnam's technological capabilities and paving the way for deeper integration into the global semiconductor value chain.

Clams are processed for export at the factory of Thanh Hoa Seafood Import-Export JSC in Thanh Hoa province. (Photo: VNA)

Vietnam steps up export to achieve 550-billion-USD target

Against a backdrop of persistent uncertainty in global commerce, the Government is implementing a broad range of measures to strengthen export growth during the remainder of the year. These include expanding overseas markets through economic diplomacy, maximising the benefits of free trade agreements (FTAs), streamlining administrative procedures, reducing logistics costs, improving access to credit and helping businesses overcome trade barriers. Authorities are also encouraging deeper processing, official cross-border exports and greater market diversification to improve the competitiveness of Vietnamese products.

A hydroponic vegetable garden in Nguyet Hoa ward operated by Green Farm Co., Ltd. (Photo: VNA)

Incentive policies for high-tech agricultural zones

Under Decree No. 263/2026/ND-CP, qualified projects are given priority to participate in State support programmes as well as funds and policies on research and development, technological innovation, technology transfer, human resource training, investment promotion and trade promotion.