Hanoi (VNA) – The establishment of theVietnam-Australia comprehensive strategic partnership during the recent official visitto the Oceania nation by Prime Minister Pham Minh Chinh demonstrates jointefforts to deepen and promote mutual strategic trust, and contribute tobuilding a new vision for the region, according to a scholar.

In his recent article, Dr. Vu Le Thai Hoang,Director of the Institute for Foreign Policy and Strategic Studies under theDiplomatic Academy of Vietnam, said since the two countries set up theirdiplomatic ties in 1973 and upgraded their relationship to a strategicpartnership in 2018, they have witnessed strong, comprehensive, and strategicdevelopments in the bilateral cooperation across spheres.

He highlighted the bilateraleconomic-trade-investment ties, with two-way trade hitting 13.8 billion USDlast year, making Australia the 10th biggest trade partner ofVietnam, and the Southeast Asian nation the seventh largest of Australia.

For investment, Australia has run nearly 600projects worth over 2 billion USD in Vietnam, while Vietnamese investments inAustralia are valued at 600 million USD.

Australia remains one of Vietnam’s biggest non-refundableaid (ODA) providers with the funding amounting to 92.8 million AUD (60.9million USD) each year during the 2022-2023 period, according to the article.

Hoang also reviewed people-to-people exchange activities between the two countries, as well as their effective support and cooperation atregional and international forums, especially within the Association ofSoutheast Asian Nations (ASEAN) and the Sub-Mekong region.

Touching upon the joint statement issued on March 7 aspart of the visit, the scholar said bilateral friendship and cooperation have beendeveloping firmly and comprehensively on the basis of mutual strategic trustand understanding, and the relationship has been consolidated through the reciprocityof the two economies, similarities in interests, and the close ties between thetwo peoples.

He called the joint statement on the establishmentof the comprehensive strategic partnership an outcome and development of the50-year relationship, which matches the needs, interests and aspirations ofboth sides’ people.  

This is the most important relationship framework inthe foreign policies of both countries, he said, noting it enables Vietnam andAustralia to further enhance their relations, promote mutual political trustand understanding, and mobilise more resources for cooperation priorities,especially economy, science-technology, and sustainable development.

The scholar emphasised the cooperation spirit forrapid and sustainable development, and that the sole purpose of cooperationcontents is to contribute to regional and international peace, stability,security and safety.

He viewed the comprehensive strategic partnerships betweenVietnam and Australia, and others like China, Russia, India, the Republic ofKorea, the US and Japan, as a testimony of Vietnam’s sound foreign policy,helping the Southeast Asian nation maintain a peaceful, stable environment fordevelopment, and advance its position and role in the international arena.

Regarding the common vision for the Indo-Pacific as affirmedin the joint statement, he said it is the universal principle in internationalrelations and law.

By promoting a new vision that sees theIndo-Asia-Pacific as a common home for many countries to stay togetherpeacefully in the spirit of mutual respect as well as respect for internationallaw, Vietnam, Australia and their partners can nurture a sustainable andequitable future, he noted./.