Vietnam & New Zealand target $2bln in two-way trade in 2024

Prime Minister Pham Minh Chinh and his New Zealand counterpart Christopher Luxon agreed to work to raise two-way trade to $2 billion this year and $3 billion by 2026 during talks in Wellington on March 11, the Vietnam News Agency has reported.

The talks were held after a welcome ceremony held for Prime Minister Chinh and his spouse, who are paying an official visit to New Zealand, chaired by Prime Minister Luxon and his spouse.

They agreed to quickly double two-way investment via appropriate measures, including opening markets and reducing trade barriers.

The two Prime Ministers also agreed to boost cooperation in all fields, including politics, diplomacy, economy-trade-investment, agriculture, tourism, and people-to-people diplomacy, taking bilateral relations to a new height.

The two leaders discussed orientations to continue developing and deepening the Vietnam-New Zealand strategic partnership.

They agreed to enhance cooperation in science and technology, innovation, the green economy, the digital economy, technology transfer, agricultural development, and emerging technology sectors such as AI and semiconductor chips.

A working group will be established to connect and promote the implementation of cooperation agreements.