Whether it’s our government, our business representatives, our trade and investment communities, vaccine donations or other areas, Australians have deep and longstanding ties with Vietnam and the Vietnamese people, and we have a deep desire and energy to do more together.

This will be facilitated by the anticipated elevation of our relationship to a Comprehensive Strategic Partnership (CSP). Once agreed, the CSP will reflect the strategic and comprehensive nature of our relationship and position us well to continue deepening our bilateral cooperation to take advantage of new opportunities, and to meet emerging challenges.

The CSP will also build on the Australia-Vietnam Enhanced Economic Engagement Strategy (EEES), which was jointly released by our two governments in 2021. The EEES is helping to realize the enormous potential that exists between our countries. I’m delighted that the Vietnam Chamber of Commerce and Industry (VCCI) has elected to issue this publication for this milestone anniversary. This exemplifies the strength and prominence of the Australian and Vietnamese relationship and our combined interest in taking it to the next level.

Vietnamese Prime Minister Pham Minh Chinh (L) and his Australian counterpart Anthony Albanese at a meeting on the sidelines of the 40th and 41st ASEAN Summits and Related Summits in Phnom Penh, Cambodia

Australia has a longstanding relationship with VCCI. Together, we have worked closely through our Aus4Reform program to support VCCI’s work in elevating the private sector’s voice in Vietnam’s economic reform agenda, maximizing opportunities for business created by Free Trade Agreements (FTAs) and increasing efforts to boost gender equality and women’s economic empowerment. We also engage closely with VCCI to promote trade and investment, including through the Vietnam Business Forum, and the establishment of the first Vietnam-Australia Business Council.

In reading this publication, you will understand just how deep and broad our economic relationship is. We partner with Vietnam across traditional sectors such as agriculture and education, but also in new and emerging sectors, including innovation, digital transformation and climate change.

Energy cooperation is one such key sector, and we are working closely with Vietnam to support both country’s commitment to reaching net zero emissions by 2050. Australia’s investments in Vietnam’s national electric vehicle charging and electric bus networks and in wind farms in Quang Tri province are examples of how this will be achieved. At the same time, through our Aus4Innovation program, we are working with Vietnam to explore emerging areas of technology and digital transformation to help Vietnam become an innovation-led economy. These are exciting and future-proofing initiatives.

As you can see, our economic relationship is dynamic and growing. We are making great strides forward in our economic relationship under the EEES, and look forward to continuing to work with Vietnam, and key partners like VCCI, to maximize the significant potential and unlock new opportunities to grow our highly complementary economic partnership into the future.