PMs of Vietnam, New Zealand hold talks

Prime Minister Pham Minh Chinh and his New Zealand counterpart Christopher Luxon held talks in Hanoi on February 26, as part of the latter's official visit to Vietnam between February 25-28, during which the two sides agreed to elevate bilateral ties to a Comprehensive Strategic Partnership.

At the talks, the two PMs stressed the need for closer economic ties and more effective trade and investment cooperation. They agreed to develop a strategy to connect the two economies, promote the signing of agreements on economic, trade, and investment cooperation, and facilitate market access for each other’s agricultural products, toward a goal of diversifying supply chains and a target of $3 billion in bilateral trade by 2026 while doubling two-way investment.

Two-way trade between the two countries has grown from $300 million in 2009 to $1.3 billion at present.

Both sides also agreed to further breakthroughs in science and technology cooperation, digital transformation, green transition, agriculture, and climate change response. New Zealand pledged continued support in finance, technology and knowledge transfer to help Vietnam fulfill its international climate commitments, transition to clean energy, and develop renewable energy.