{"id":2041,"date":"2023-02-14T11:00:55","date_gmt":"2023-02-14T04:00:55","guid":{"rendered":"https:\/\/bluewisegroup.com.au\/moi-quan-he-giao-thuong-manh-me-giua-viet-nam-australia\/"},"modified":"2024-01-12T13:57:17","modified_gmt":"2024-01-12T06:57:17","slug":"the-strong-trade-relationship-between-vietnam-and-australia","status":"publish","type":"post","link":"https:\/\/bluewisegroup.com.au\/en\/the-strong-trade-relationship-between-vietnam-and-australia\/","title":{"rendered":"The strong trade relationship between Vietnam and Australia"},"content":{"rendered":"

The state of Vietnam-Australia trade relations:<\/strong><\/span><\/h2>\n

Vietnam and Australia share many frameworks for economic cooperation, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This agreement is strongly supporting the trade and investment relations between the two countries.<\/span><\/p>\n

Vietnam \u2013 a major trading partner of Australia:<\/strong><\/span><\/h2>\n

In 2021, Vietnam became Australia\u2019s 12th largest trading partner, and conversely, Australia is Vietnam\u2019s 10th largest trading partner. According to the General Department of Customs, in 2021, the total two-way trade turnover between Vietnam and Australia exceeded $12.4 billion for the first time, up over 49% compared to 2020. Vietnam\u2019s exports to Australia reached over $4.45 billion, up over 23%, and Vietnam\u2019s imports from Australia reached nearly $8 billion, up nearly 70%, compared to 2020.<\/span><\/p>\n

In the first 4 months of 2022, the export turnover from Vietnam to Australia reached $1.855 billion. Among them, seafood increased by 53.3% compared to the same period; fruits and vegetables increased by 22.75%. Rice, after strong promotion in 2021, such as events promoting and tasting Vietnamese rice in some major states of Australia, continued to grow, amid Australia reducing rice imports from the world. (Source: Vietnam Ministry of Industry and Trade)<\/span><\/p>\n

Australia \u2013 a market for providing raw materials to Vietnam:<\/strong><\/span><\/h2>\n

Conversely, Australia is becoming a solid foundation for Vietnam\u2019s increasingly strong production, as a market for providing essential input materials such as coal, iron ore, metals, cotton, wheat, and animal feed.<\/span><\/p>\n

CPTPP is a lever to increase investment between the two countries. As of the end of 2021, Australia has invested in about 550 projects in Vietnam, with a total value of only nearly $2 billion, ranking 19th among countries with FDI in Vietnam, behind countries without FTAs with Vietnam such as Taiwan, the US, and Switzerland.<\/span><\/p>\n

With the potential and reasonable complementation from the import-export sector structure, it is expected that trade between Vietnam and Australia will continue to grow impressively in the coming time, bringing the total two-way trade turnover to a new record high.<\/span><\/p>\n

The trade relationship between Vietnam and Australia will open up many opportunities for valuable entrepreneurs and investors to develop, especially in the field of import and export.<\/span><\/p>\n

Contact Info:<\/strong><\/span><\/h2>\n
    \n
  • Bluewise Group | Bluewise Business Advisory | Bluewise Migration Advisory<\/span><\/li>\n
  • Head Office: Liberty Plaza \u2013 Level 1, 28\/256 Chapel Rd Bankstown NSW<\/span><\/li>\n
  • HCM Branch: 339\/10A Le Van Sy, Ward 13, District 3, Ho Chi Minh City<\/span><\/li>\n
  • Hotline: AU 0450 895 589 \u2013 VN 1800 599 932<\/span><\/li>\n
  • Email: bw@bluewisegroup.com.au<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    The state of Vietnam-Australia trade relations: Vietnam and Australia share many frameworks for economic cooperation, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This agreement is strongly supporting the trade and investment relations between the two countries. Vietnam \u2013 a major trading partner of Australia: In 2021, Vietnam became Australia\u2019s 12th largest trading […]\n","protected":false},"author":2,"featured_media":1946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,19],"tags":[],"class_list":["post-2041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australian-investment-news","category-news"],"_links":{"self":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/2041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/comments?post=2041"}],"version-history":[{"count":4,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/2041\/revisions"}],"predecessor-version":[{"id":5065,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/2041\/revisions\/5065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/media\/1946"}],"wp:attachment":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/media?parent=2041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/categories?post=2041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/tags?post=2041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}