Australia remains potential market for Vietnamese exports: experts
Australia, which annually spends about 600 billion USD on imports, is a potential market for many exports of Vietnam, said Tran Ba Phuc, Chairman of the Vietnamese Business Association in Australia, at a trade promotion and connection conference held on December 21.
HCM City (VNA) – Australia, which annually spends about 600 billion USD on imports, is a potential market for many exports of Vietnam, said Tran Ba Phuc, Chairman of the Vietnamese Business Association in Australia, at a trade promotion and connection conference held on December 21.
Noting that trade between Vietnam and Australia is yet to match the nations’ potential, Phuc informed that the bilateral trade exceeded 8.3 billion USD in 2020 and hit 10 billion USD in the first 11 months of 2021.
Phuc said his association has just set up a centre for Vietnam-Australia trade promotion and a chamber in charge of trading Vietnamese products in Melbourne. The sites aim at boosting the export of Vietnamese products to the Australian market via introducing them to the local retail chains.
Le Huu Nghia, Vice President of the Ho Chi Minh City Union of Business Associations (HUBA), said HUBA has signed cooperation pacts with the Foreign Service Center (FSC) and the Overseas Vietnamese Business Association to hold a series of events for business networking and the introduction of Vietnamese products to potential markets, including Australia.
Peter Hong, Vice President and General Secretary of the Overseas Vietnamese Business Association, said the advantage of Vietnamese businesses when bringing goods to Australia is easily connecting with the community of about 450,000 - 470,000 Vietnamese living and working here. In addition, there are about 30,000 Vietnamese students studying in Australia.
He advised Vietnamese exporters to study Australia’s standards and certificates and to come up with measures for safe packaging, storage, and transport to ensure the quality of their products./.
The total import-export turnover between Vietnam and Australia reached a record of 14 billion AUD (10 billion USD) in the first 10 months of this year, an increase of 50 percent over the same period last year.
Deputy Minister of National Defence Sen. Lieut. Gen. Hoang Xuan Chien and Peter Tesch, Deputy Secretary for Strategy, Policy, and Industry at Australia’s Department of Defence, co-chaired the two countries’ fifth defence policy dialogue on December 1.
Bamboo Airways on December 17 morning (Vietnam time) launched its direct air route linking Vietnam with Australia during an inaugural ceremony held in Melbourne international airport of Australia.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
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This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
At the signing ceremony (Photo: VNA) 
