Vietnam and New Zealand sign cooperation agreements

15 Nov 2022

Vietnam and New Zealand have signed agreements on education and civil aviation cooperation during New Zealand prime minister Jacinda Ardern's visit to the country.

Prime Minister Pham Minh Chinh said Ardern's official visit had bolstered the strategic partnership between the two nations.

Both sides have agreed to boost cooperation in regard to energy, security and defence and transnational crime, amongst other factors.

In addition, a reciprocal trade turnover target has been set of $2 billion by 2024, and both countries have agreed to enhance market access for their agricultural products, VN Express reports.

Vietnam has invited investment from New Zealand into industries such as education and training, construction, agriculture, IT and manufacturing technology; the report goes on to say.

They also agreed to boost cooperation in labour, education and transportation, as well as digital transformation, climate change, entrepreneurship and innovation.

Chinh added that Vietnam has always appreciated its partnership with New Zealand, a key strategic partner in the South-Pacific for Vietnam and ASEAN. Whilst Ardern said New Zealand was keen to increase the number of Vietnamese residents within the working vacation program to strengthen bilateral ties.

The New Zealand PM also said her visit to Vietnam provided a chance to underline the cooperation between both countries in terms of development partnership initiatives.

"I hope to have more opportunities to visit Vietnam to improve connections between our two nations," Arden stated.

Back in 2020, both Vietnam and New Zealand upgraded their relationship to a strategic partnership, and last year their bilateral trade turnover hit $1.3 billion, a 26.7% year-on-year rise.

Furthermore, New Zealand has promised to provide Vietnam with approximately $16 million in Official Development Assistance (ODA) between July 2021 and June 2024.