Vietnam, Australia post record high in two-way trade
Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.
Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD. (Source: VNA)
Sydney (VNA) – Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.
Head of the office Nguyen Phu Hoa said that in the first six months of this year, Vietnam exported 2.78 billion USD worth of goods to Australia, 691.35 million USD higher than the same period last year.
The impressive rise was driven by coffee, seafood, steel and electronic accessories, while fruit and vegetable exports increased in the double digits.
At the same time, imports from Australia in the January-June period exceeded 5.23 billion USD, up 41.5% year on year.
With high potential for trade between the two countries, Hoa held that import-export between Vietnam and Australia will continue to rise and may exceed the forecast figure of 15 billion USD in 2022, marking a new record.
The Vietnam Trade Office in Australia will continue to implement trade promotion programmes, while focusing on strengthening digitalisation, especially in the trade of agricultural products, he said.
🌟 Hoa underlined that many new Vietnamese products have shown growth potential in the Oceania market, such as frozen fruits, including jackfruits, passion fruits, durian and some spices. The office is studying the economic development programme of the new government of Australia, thus promptly promoting bilateral cooperation in areas of Vietnam's strengths, he added./.
Minister of Foreign Affairs Bui Thanh Son and his Australian counterpart Penny Wong held talks on June 27 as part of the latter’s ongoing official visit to Vietnam from June 26-28.
Prime Minister Pham Minh Chinh on June 27 received Australian Minister for Foreign Affairs Penny Wong, who has been on a three-day official visit to Vietnam.
The Australia – Vietnam Enhanced Economic Engagement Strategy is helping realise the economic potential exiting between the two nations, the spokesperson for the Australian Department of Foreign Affairs and Trade (DFAT) said on July 22 in response to a question from a Vietnam News Agency correspondent in Sydney.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD. (Source: VNA) 
