Vietnam, Australia target 20 billion USD in bilateral trade

(VOVWORLD) - Vietnam and Australia agreed to enhance their trade and investment ties in order to bring two-way trade to 20 billion USD. 
Vietnam, Australia target 20 billion USD in bilateral trade - ảnh 1The 6th Foreign Ministers’ meeting between Vietnam and Australia takes place in Adelaide, Australia, October 18, 2024.

The pledge was made at a meeting in Adelaide on Friday between Deputy Prime Minister and Foreign Minister Bui Thanh Son and Australian Minister for Foreign Affairs Penny Wong.

Both officials viewed the upgrade of the bilateral relationship to a comprehensive strategic partnership in May as a strong, historical step in the development of bilateral ties, opening up a new cooperation period with higher political trust and more intensive, extensive, and practical cooperation. They also consented to step up high-level visits in the time ahead, and double investment as outlined in the Enhanced Economic Engagement Strategy (EEES).

Minister Wong said Australia will continue to support Vietnam in technological research and development, green technology, infrastructure development in service of energy transition, digital infrastructure, and human resources development. Australia will also grant more scholarships to Vietnamese students.

Regarding the East Sea issue, the two sides emphasized the importance of maintaining peace, stability, safety, and freedom of navigation and aviation, and respecting international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

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