Vietnam, New Zealand goal US$2 billion in 2024 bilateral commerce

HCMC – Vietnam and New Zealand will make efforts to carry two-way commerce to US$2 billion by 2024 from final 12 months’s US$1.2 billion, heard a bilateral assembly in Hanoi.

The goal was raised on the eighth assembly of the Vietnam-New Zealand Joint Commerce and Financial Fee (JTEC) held lately in Hanoi. The occasion was chaired by Deputy Minister of Business and Commerce Phan Thi Thang and Deputy Secretary for Overseas Affairs and Commerce of New Zealand Vangelis Vitalis.

The officers of Vietnam and New Zealand lauded the mutual efforts to carry native agricultural produce to one another’s markets on the finish of final 12 months, together with Vietnam’s pomelos and limes and New Zealand’s strawberries and squashes.

The 2 international locations deliberate to bolster the bilateral relations in a spread of facets, together with agricultural provide chains, academic improvement initiatives, tourism investments and aviation industries.

In 2022, Vietnam-New Zealand commerce reached US$1.2 billion, rising by 14% year-on-year.

Vietnam is New Zealand’s thirteenth largest buying and selling accomplice and fifth among the many ASEAN members, with 11 investments value US$38.4 million.

New Zealand has 39 ongoing initiatives in Vietnam with a complete pledge of US$209.75 million.

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