PM starts tour to Australia
11:01 | 14/03/2018

VGP – PM Nguyen Xuan Phuc and his spouse have started an official visit to Australia, where they will attend the ASEAN-Australia Special Summit, from March 14-18 at the invitation of Australian PM Malcom Turnbull.

VN-Australia Comprehensive Partnership enhanced

Viet Nam and Australia set up their diplomatic relationship in 1973 and upgraded the relations to Comprehensive Partnership in 2009, identifying five key cooperative areas including bilateral relationship, economic growth and development of trade and industry, support for development, promotion of defense relations, law enforcement and security. 

During Australian PM Malcom Turnbull’s visit to Viet Nam to attend APEC Economic Leaders' Week in Da Nang in November 2017, the two nations signed the Action Program for the 2016-2019 phase. Accordingly, Australia regards Viet Nam as key partner in ASEAN. 

Australia is the eighth largest trade partner of Viet Nam with the two-way trade value of nearly US$ 6.5 billion in 2017, up 22.2% against the previous year. Viet Nam enjoyed the trade surplus of US$520 million. 

Australia has poured US$1.8 billion in 412 projects in Viet Nam, ranking 20th among 126 nations and territories investing in Viet Nam. Meanwhile, Viet Nam invested in 44 projects in Australia, worth US$387.1 million. 

Australia has provided AUD110 million in Official Development Assistance (ODA) for Viet Nam since 2010 and a non-refundable aid of AUD160 million for Viet Nam to build Cao Lanh Bridge. 

Australia approved a plan to provide AUD90 million in aid for Viet Nam, focusing on economic reform, capacity enhancement, gender equality and improvements of livelihoods. 

A total number of 30,000 Vietnamese students are studying in Australia. 

The two nations have made efforts in the success of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and in maintaining security, stability and development in the region based on respecting sovereignty and international regulations. 

ASEAN-Australia relations promoted 

ASEAN and Australia established diplomatic relations in 1974. Australia is the first nation setting up an official dialogue partnership with ASEAN in three areas of politics, economic and sector cooperation. 

In 2014, Australia and ASEAN organized a Summit to celebrate the 40th founding anniversary of their relations and upgraded the relations to the  Strategic Partnership. 

The trade turnover between ASEAN and Australia reached more than US$52 billion in 2016. Australia is the seventh largest trade partner of ASEAN while ASEAN ranks third among trade partners of Australia. 

The Foreign Direct Investment (FDI) from Australia into ASEAN hit US$72 billion in 2016, ranking sixth. 

By Thuy Dung

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