Australia promotes trade interests in Vietnam

Assistant minister for trade, tourism and investment Mark Coulton is on an offical trip to Vietnam to promote Australian economic and trade interests.

As part of his trip on April 3-6, Coulson will meet senior government and business representatives in Hanoi and Ho Chi Minh City, to further expand trade, tourism and investment opportunities for Australian companies, a media release by the minister’s office announced.

Coulson will also attend the third annual Taste of Australia program in Vietnam, participating in events that showcase the Australian food and beverages, vocational education and culinary culture to Vietnamese business and consumers.

The assistant minister will also open a tourism and hospitality training workshop in Ho Chi Minh City, provided by Australian vocational education ambassadors.

Vietnam is Australia’s 15th largest trading partner.  Two-way trade is valued at $11.8 billion in 2016-17 and is growing at 12 per cent annually.  Key growth sectors include education and training, aviation, tourism and hospitality, and agribusiness.

Vietnam is Australia’s seventh-largest agriculture export market, valued at $2.2 billion in 2016-17.  The value of Australian education exports was more than $1 billion in 2016-17.

Australia and Vietnam recently upgraded their bilateral ties to a strategic partnership during Vietnamese prime minister Nguyen Xuan Phuc’s visit to Australia from 14–18 March.

Coulson said the elevation of the bilateral relationship was an example of the Australian Government’s enhanced engagement with Southeast Asian countries, building on the successful ASEAN-Australia Business Summit, which took place in Sydney on March 17-18.