New Zealand's Prime Minister Christopher Luxon is advancing his Southeast Asian strategy with a three-day official visit to Vietnam, accompanied by a business delegation. According to the NZ Herald, Luxon emphasized Vietnam's growing economic significance to New Zealand exporters, describing it as a "huge opportunity" and the fastest-growing economy in Southeast Asia.
The current annual trade volume between New Zealand and Vietnam stands at approximately 2.6 billion USD. With Vietnam's economy projected to grow by 6.5% in the coming years, Luxon aims to increase this figure to 3 billion USD by 2026. He noted the longstanding diplomatic relations exceeding 50 years and expressed a desire to enhance engagement levels with Vietnam.
Highlighting the importance of trade, Luxon stated, "A real focus for us is growing the economy," pointing out that one in four jobs in New Zealand is tied to trade. The delegation includes representatives from the University of Auckland, AUT, Fonterra, Orion Health Group, Silver Fern Farms, and Zespri, aiming to engage in discussions with Vietnamese businesses.
Luxon's itinerary includes meetings with Vietnamese business leaders and talks with his counterpart, Pham Minh Chinh, along with top leaders of Vietnam's Party, State, and National Assembly. The visit follows previous engagements, such as former PM Jacinda Ardern's 2022 trip, which facilitated Vietnamese investment in New Zealand.
Luxon has been focusing on Asia, with recent visits to Malaysia, the Philippines, Thailand, Singapore, and now Vietnam, aligning with his announced strategy at the APEC Summit in Peru. Future focus areas include Australia, the Pacific, Southeast Asia, Northeast Asia, and later India, China, and South Asia.
Source: Vietnam+
