Sydney, October 20, 2024 – The Europe Today: In a significant step towards enhancing economic relations, Vietnam and Australia have committed to strengthening their trade and investment ties, aiming to achieve a bilateral trade target of US$20 billion. This agreement was reached during the 6th Foreign Ministers’ Meeting held in Adelaide on October 18, co-chaired by Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn and Australian Minister for Foreign Affairs Penny Wong.
Both ministers expressed satisfaction with the progress in bilateral relations across various fields, emphasizing the flourishing political ties, the exchange of high-level delegations, and cooperation in defense, marked by the successful inaugural Ministerial Security Dialogue and joint efforts in United Nations peacekeeping.
The meeting also highlighted the upgrade of the bilateral relationship to a Comprehensive Strategic Partnership during Vietnamese Prime Minister Phạm Minh Chính’s official visit to Australia in May, which both leaders viewed as a historic development. This upgrade is expected to foster higher political trust and more extensive, practical cooperation between the two nations.
Sơn commended the recent mutual opening of markets for agricultural products and acknowledged Australia’s commitment to implementing its Southeast Asia Economic Strategy to 2040 in Vietnam. He also emphasized the importance of fostering connections through education, people-to-people exchanges, and facilitating visa programs for Vietnamese citizens wishing to work in Australia.
In a gesture of solidarity, Sơn expressed gratitude to the Australian Government and people for their timely assistance in providing essential supplies to Vietnam in the aftermath of Typhoon Yagi.
Minister Wong encouraged Vietnam to further facilitate Australian investments, particularly in high-tech sectors. She underscored the need to expand cooperation in climate change response, green growth, energy transition, digital transformation, and innovation, areas where Australia possesses significant expertise.
Wong committed to continuing support for Vietnam in technological research and development, green technology, infrastructure development for energy transition, digital infrastructure, and human resource development, primarily through official development assistance (ODA) and investment projects. Additionally, she announced plans to increase scholarships for Vietnamese students and enhance collaboration between educational institutions in both countries.
Regarding the cooperation between the two foreign ministries, the ministers agreed to promote and effectively deploy existing cooperation mechanisms and to intensify strategic information exchanges. They also committed to enhancing mutual support in multilateral forums, especially within the United Nations and the Association of Southeast Asian Nations (ASEAN).
Wong reiterated Australia’s commitment to its cooperation with ASEAN, emphasizing the bloc’s centrality and the importance of sustainable development in the Mekong Sub-region through the Mekong-Australia Partnership.
On the issue of the East Sea (known internationally as the South China Sea), both officials stressed the need to maintain peace, stability, safety, and freedom of navigation, while respecting international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
At the conclusion of the meeting, the two ministers signed an action program to implement the Comprehensive Strategic Partnership for the period 2024-2027, laying the groundwork for deeper cooperation between Vietnam and Australia in the years to come.
