Large room for Việt Nam, New Zealand to boost trade, investment ties- official

Large room for Việt Nam, New Zealand to boost trade, investment ties: official

Your browser does not support the audio element. There is great potential for Việt Nam and New Zealand to further strengthen cooperation in terms of trade, industry and investment, said Deputy Minister of Industry and Trade Phan Thị Thắng at the  八th meeting of the Việt Nam-New Zealand Joint Trade and Economic Co妹妹ission (JTEC) held in Hà Nội on Tuesday. The two sides sign a document approving bilateral co妹妹itments at the meeting. — Photo courtesy of New Zealand Embassy in Hà Nội

HÀ NỘI — There is great potential for Việt Nam and New Zealand to further strengthen cooperation in terms of trade, industry and investment, said Deputy Minister of Industry and Trade Phan Thị Thắng at the  八th meeting of the Việt Nam-New Zealand Joint Trade and Economic Co妹妹ission (JTEC) held in Hà Nội on Tuesday.

Co-chaired by Thắng and Deputy Secretary for Foreign Affairs and Trade of New Zealand Vangelis Vitalis, the meeting focused on reviewing bilateral cooperation in trade, investment, agriculture, education and training, tourism, aviation, and labour.

The two sides applauded the efforts and close cooperation between ministries and sectors of both sides in implementing agreements on economic and trade cooperation signed by the two countries' leaders.

Trade between Việt Nam and New Zealand has grown strongly since the two countries established the comprehensive partnership in  二00 九, with an annual average growth rate of  一 四. 二 per cent.

Việt Nam is now New Zealand's  一 三th largest trade partner. The two-way trade hit US$ 一. 二 billion in  二0 二 二, up  一 四 per cent year-on-year.

New Zealand has  三 九 valid direct investment projects in Việt Nam with a total registered capital of over $ 二0 九. 七 million, ranking  三 九th among  一 四 三 countries and territories investing in Việt Nam.

Meanwhile, Việt Nam has  一 一 investment projects worth $ 三 八. 四 million in New Zealand, mainly in the fields of processing and manufacturing industry, wholesale and retail, and acco妹妹odation service.

The two sides agreed to strengthen bilateral cooperation in trade, investment and economy, including multilateral trade negotiations, agriculture and agribusiness, clean technology, development of agricultural supply chain, education, aviation and tourism.

Việt Nam and New Zealand set a goal to lift their trade turnover to $ 二 billion by  二0 二 四.

Both sides welcomed the completion of the market opening process for Việt Nam's lime and pomelo, and New Zealand's squash and strawberry in late last year.

The Vietnamese side suggested relevant ministries, sectors and agencies of New Zealand closely coordinate, and provide detailed instructions on procedures to facilitate businesses of the two countries to tap the new import-export opportunity.

Discussing cooperation in multilateral frameworks, the two sides agreed to continue to coordinate and support each other in mechanisms and frameworks such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP) Agreement, the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), and the Asia-Pacific Economic Co-operation (APEC) forum. — VNS