After litchi, mango and dragon fruit, longan is now the fourth Vietnamese fruit variety to be exported to Australia. However, experts say there is still a lot of work needed for Vietnam to secure a firm foothold in the market.
According to Australian Minister of Agriculture and Water Resources David Littleproud, the Vietnamese agricultural sector has the potential to earn billions of dollars from exports. The strategic partnership agreement between Vietnam and Australia has opened up new investment and trade partnership opportunities for both sides, he added.
Thanks to the ASEAN-Australia-New Zealand Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the majority of Vietnamese goods exported to Australia enjoy zero tariffs and many other advantages.
However, Vietnam’s fruit export revenue to Australia has remained modest. Statistics from the General Department of Vietnam Customs showed that trade between the two countries in the first nine months of 2019 reached over US$5.9 billion, up 9 per cent year on year. Crude oil alone accounted for over $2.5 billion.
As explained on vietnamnews.vn, one of the major obstacles for Vietnamese farm produce remains to be the strict quarantine regulations, where not many Vietnamese exporters manage to meet Australian standards.