The Comprehensive Strategic Partnership aims to enhance cooperation between the two countries in various areas, such as climate change, energy transition, resources, including important mineral supply chains, digital transformation, innovation, trade and investment, agriculture, defense, education, and training.
In addition, there are additional pillars of cooperation on climate change, environmental cooperation, and energy cooperation, as both Australia and Vietnam have committed to achieving net-zero emissions by 2050.
The two sides have also established an annual dialogue between trade ministers, agreed to strengthen monitoring of the impact of climate change on marine environment, and made digital transformation, scientific cooperation, technology, and innovation a new pillar in the bilateral relationship.
Furthermore, the two sides have exchanged views and agreed to enhance cooperation in the fields of education, training, and labor, as well as discussed the importance of enhancing cooperation to protect and promote security and stability in the region, including reaching an agreement on maintaining peace and elevating the ministerial level security dialogue between Vietnam and Australia.
During the press conference after the talks, Prime Minister Pham Minh Chinh affirmed that this new framework would contribute to strengthening political trust and further deepening the Vietnam-Australia cooperation relationship, meeting the common aspirations of the people of the two countries. The two sides will closely coordinate to implement 6 major orientations to deepen and enhance cooperation in various areas more effectively and substantively.
Specifically, the 6 orientations include: Enhancing political trust and higher diplomatic cooperation; comprehensive and substantive economic, trade, and investment cooperation; promoting scientific and technological cooperation, innovation, and strong digital and green transformation; cooperation in cultural, educational, training, environmental fields, comprehensive adaptation to climate change; people-to-people exchanges, connecting open and sincere generations; better understanding, empathy, and sharing of security and defense, aiming for peace, stability, cooperation, and development in the region and the world.
Australia has invested over 2 billion USD in Vietnam
According to data from the Foreign Investment Agency (Ministry of Planning and Investment), Australian businesses have invested in 631 projects with a total registered capital of 2.04 billion USD in Vietnam.
The Foreign Investment Agency said that Australian investment is focused on 18 sectors and industries in Vietnam. Leading the way is the processing and manufacturing industry with 133 projects and a total registered capital of 954.7 million USD. Accommodation and food services rank second with 31 projects and a total registered capital of 154.32 million USD. The agricultural and fishery sector ranks third with 25 projects and a total registered capital of 120.04 million USD.
In terms of investment locations, the Foreign Investment Agency said that Australia has invested in 45 provinces and cities in Vietnam. Specifically, Ba Ria-Vung Tau province takes the lead with 16 projects and a total registered capital of up to 392.21 million USD; Ho Chi Minh City ranks second with 309 projects and a total registered capital of 231.12 million USD; Hanoi ranks third with 123 projects and a total registered capital of 209.63 million USD.
During the working trip of the Prime Minister to attend the Special ASEAN-Australia Summit commemorating 50 years of ASEAN-Australia relations and the official visit to Australia, Minister of Planning and Investment Nguyen Chi Dung and the delegation of the Ministry have worked with some partners and businesses to promote investment between Vietnam and Australia, especially in the field of clean energy and renewable energy.
In terms of trade, in 2022, the two-way trade turnover reached over 101 billion USD, an increase of nearly 20% compared to 2021. Foreign direct investment from Australia to ASEAN reached over 2 billion USD, an increase of 6.5 times compared to 2021, nearly reaching the pre-COVID-19 level.
In January 2024, according to statistics from the Vietnam Trade Office in Australia compiled from the statistics of the General Department of Vietnam Customs, the total goods trade turnover between Vietnam and Australia in January 2024 reached 1.25 billion USD, an increase of 43.4% compared to the same period in 2023 (872 million USD) and an increase of 10.6% compared to December 2023 (1.13 billion USD).
Specifically, export turnover in January 2024 reached 521.9 million USD, an increase of 36.9% compared to the same period in 2023 (381.1 million USD) and an increase of 31.1% compared to December 2023 (398 million USD). Import turnover in January 2024 reached 729 million USD, an increase of 48.4% compared to the same period in 2023 (491.4 million USD) and a slight increase of 0.3% compared to December 2023 (727 million USD).
