Trade turnover between Vietnam and Australia tops 3.63 billion USD during January-April. (Photo: VNA) Sydney (VNA) – Two-way trade turnover between Vietnam and Australiatopped 3.63 billion USD in the first four months of this year, a year-on-yearrise of 33.85 percent, according to Vietnamese Consul General to Australia NguyenDang Thang.
Speaking at a business cooperation conference held by the VietnameseEntrepreneurs Association in Sydney (VEAS) on May 21, Thang said that exportsof both nations to each other’s market increased in the period.
He described this as significant in the context that the COVID-19 pandemic causedan unprecedented disruption to the global economy and several nations,including those in Southeast Asia.
However, Thang said the trade value did not reflect the economic potentialbetween the two nations, adding Vietnamese and Australian enterprises shouldnot only trade traditional products like seafood, farm produce, minerals,garment and textiles, footwear and building materials, but also capitalise onthe products that both sides have gained competitive edge in the global market.
Vietnamese Consul General to Australia Nguyen Dang Thang speaks at the business conference. (Photo: VNA) He also called on the Australian businesses to invest more in the Vietnamesemarket, particularly in the fields they hold considerable experience andadvantages such as processing, manufacturing, high-tech agriculture, andlogistics.
Meanwhile, Chairwoman of the Export Council of Australia Dianne Tippingaffirmed Vietnam and Australia have enjoyed the fastest trade growth in recentyears, and the Southeast Asian country has become a more important tradepartner of Australia.
Besides goods, they have seen an impressive growth in their trade in services,including fintech, health care and education, she said.
Boasting fast economic growth, expansion of middle-class population, young anddynamic workforce, stable socio-political environment, and better businessclimate, Vietnam is truly an ideal destination for Australia firms, she said,adding the Vietnam – Australia ties have been deepened across the fields ofeconomy, security, defence, culture, education and people diplomacy.
Tipping affirmed that the two countries have many opportunities to branch outtheir economic-trade relations in the post-pandemic era.
The Export Council of Australia encourages Australian businesses to expandtheir business in Vietnam, particularly in the fields that have good growth inthe future such as information technology, digital transformation,finance-banking, environmental services, health care, and beauty.
Tipping said her council has advised the Australian government to back tradepromotion with Vietnam, especially giving supports to small- and medium-sizedcompanies who are interested in investing in the Vietnamese market, as well asconsider establishing a travel corridor between the two countries./.
VNA
