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Wednesday, October 4, 2023

Vietnam, New Zealand target US$2 billion in 2024 bilateral trade

The Saigon Times

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HCMC – Vietnam and New Zealand will make efforts to bring two-way trade to US$2 billion by 2024 from last year’s US$1.2 billion, heard a bilateral meeting in Hanoi.

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.

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