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Vietnam-Australia trade rises 4.7 percent each year: MoIT

Six years after implementing the ASEAN-Australia-New Zealand Free Trade Area, trade between Vietnam and Australia has increased 4.7 percent each year on average, according to the Ministry of Industry and Trade (MoIT).
Vietnam-Australia trade rises 4.7 percent each year: MoIT ảnh 1Illustrative Image (Source: VNA)

Hanoi (VNA) – Six years after implementing the ASEAN-Australia-NewZealand Free Trade Area, trade between Vietnam and Australia has increased 4.7percent each year on average, according to the Ministry of Industry and Trade(MoIT).

Last year, trade between the two countries reached5.26 billion USD, up 6.5 percent from 2015, with Vietnam’s trade surplus sittingat 480 million USD.

During a conference held by the Department ofAsian Market on August 31, the MoIT said that Australia has high demand forgoods from Asia-Pacific and has become an important market for Vietnam.

Popular Vietnamese exports to Australia includeaquatic products, consumer goods, apparel, footwear and wooden products due topreferential tax deals in the ASEAN-Australia-New Zealand Free Trade Area,added the ministry.-VNA
VNA
#ASEAN-Australia-New Zealand Free Trade Area #Australia #Ministry of Industry and Trade (MoIT) #Asian Market #Vietnamese exports to Australia #Vietnam #Vietnam news #Vietnam News Agency Australia
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