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Vietnam, Australia aim to be each other's top 10 trading partners

Vietnam and Australia have set a target to double two-way investment and become each other's top 10 trading partners. Currently, Australian investors operate 593 projects in Vietnam, with a total registered capital of approximately USD2bn, while Vietnamese businesses have invested USD500m in Australia. Speaking at the third ministerial-level Vietnam-Australia Economic Partnership Meeting, Australia's Minister for Trade and Tourism Don Farrell said the Enhanced Economic Engagement Strategy (EEES) aims to boost trade and investment, with the goal of doubling current investment figures. The scope of cooperation extends beyond economic investment to education and training, development cooperation, tourism, and agriculture. Furthermore, Australia is one of Vietnam's largest non-refundable Official Development Assistance (ODA) donors.

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