Australia prioritises economic ties with Vietnam: Expert
The Vietnam visit on July 13 by Australian Minister for Trade, Tourism and Investment Dan Tehan showed that Australia is prioritising economic ties with Vietnam as their strategic partnership is growing strongly and practically in various areas, especially in economy, trade and investment, an Australian expert has commented.
President Nguyen Xuan Phuc (R) and Australian Minister for Trade, Tourism and Investment Dan Tehan (Photo: VNA)
Sydney (VNA) – The Vietnam visit on July 13 by Australian Minister for Trade, Tourism and Investment DanTehan showed that Australia is prioritising economic ties with Vietnam asthei🍌r strategic partnership is growing strongly and practically in various areas, especially ineconomy, trade and investment, an Australian expert has commented.
Talking with the Vietnam News Agency (VNA)'s reporter in Sydney, KyleSpringer from the Western Australia-based Perth USAsia Centre, said thevisit will activate cooperation frameworks to which both countries are memberssuch as the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP), aswell as cooperation deals between their localities.
He said a number of Australian firms are studying import-export activities with Vietnam aswell as investment opportunities and formation of joint ventures.
According to the expert, the Australian Government has recently funded 2.5 million AUD (nearly 2 millionUSD) for tens of projects to increase business opportunities and enhance cooperative ties between firms of the two countries in diverse areas,from agric🎃ulture to education, digital technology, and supply c♊hain of smalland medium-sized enterprises.
In the first half of this year, two-way trade soared by over 40percent year-on-year.
Head of the Party Central Committee's Economic Commission Tran Tuan Anh (R) receives Australian Minister for Trade, Tourism and Investment Dan Tehan (Photo: VNA)
During meetings with the minister, Vietnamese leaders wished that Vietnam’s shrimpmeatballs and passion fruits would be exported to Australia while Vietnam also wantsto import coal, iron and steel, ore and rare earth from the country. Springer suggested that within the frameworks of the CPTPP and RCEP, thetwo countries could develop a rare earth supply chain, under whichAustralia will exploit and process while Vietnam will create end-products.Western Australia's authorities also expectto launch a direct flight between Perth and Vietnam to facilitatetravelling and trade once the COVID-19 pandemic is pushed back, he added./.
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President Nguyen Xuan Phuc (R) and Australian Minister for Trade, Tourism and Investment Dan Tehan (Photo: VNA) 
Head of the Party Central Committee's Economic Commission Tran Tuan Anh (R) receives Australian Minister for Trade, Tourism and Investment Dan Tehan (Photo: VNA) 
