Great potential for New Zealand and Vietnam to further strengthen cooperation

According to Deputy Minister of Industry and Trade Phan Thi Thang, there is great potential for Vietnam and New Zealand to further strengthen cooperation in terms of trade, industry and investment. Trade between Vietnam and New Zealand has grown strongly since the two countries established the comprehensive partnership in 2009, with an annual average growth rate of 14.2%.

Vietnam is now New Zealand's 13th largest trade partner. The two-way trade hit 1.2 billion USD in 2022, up 14% year-on-year. New Zealand has so far had 39 valid direct investment projects in Vietnam with a total registered capital of over 209.7 million USD, ranking 39th among 143 countries and territories investing in Vietnam.

Vietnam and New Zealand set a goal to lift their trade turnover to 2 billion USD by 2024. Both sides welcomed the completion of the market opening process for Vietnam's lime and pomelo, and New Zealand's squash and strawberry in late last year.


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