Vietnam-Australia trade rises 4.7 percent each year: MoIT hinh anh 1Illustrative Image (Source: VNA)

Hanoi (VNA) – 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).

Last year, trade between the two countries reached 5.26 billion USD, up 6.5 percent from 2015, with Vietnam’s trade surplus sitting at 480 million USD.

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

Popular Vietnamese exports to Australia include aquatic products, consumer goods, apparel, footwear and wooden products due to preferential tax deals in the ASEAN-Australia-New Zealand Free Trade Area, added the ministry.-VNA