Large room for Vietnam, New Zealand to boost trade, investment ties
There is great potential for Vietnam and New Zealand to further strengthen cooperation in terms of trade,
The target was raised at the eighth meeting of the Vietnam-New Zealand Joint Trade and Economic Commission (JTEC) held recently in Hanoi. The event was chaired by Deputy Minister of Industry and Trade Phan Thi Thang and Deputy Secretary for Foreign Affairs and Trade of New Zealand Vangelis Vitalis.
The officials of Vietnam and New Zealand lauded the mutual efforts to bring local agricultural produce to each other’s markets at the end of last year, including Vietnam’s pomelos and limes and New Zealand’s strawberries and squashes.
The two countries planned to bolster the bilateral relations in a range of aspects, including agricultural supply chains, educational development initiatives, tourism investments and aviation industries.
In 2022, Vietnam-New Zealand trade reached US$1.2 billion, rising by 14% year-on-year.
Vietnam is New Zealand’s 13th biggest trading partner and fifth among the ASEAN members, with 11 investments worth US$38.4 million.
New Zealand has 39 ongoing projects in Vietnam with a total pledge of US$209.75 million.