Luxon, Vietnamese PM promise greater trade
Monday, 11 March 2024
Prime Minister Christopher Luxon and Vietnamese Prime Minister Pham Minh Chinh are promising to further deepen the New Zealand-Vietnam relationship, in a bid to reach $3.2 billion in two-way trade.
Pham Minh Chinh and a large delegation of Vietnamese officials were in Wellington on Monday for the first state visit Luxon has hosted as prime minister.
After a military welcome in front of Parliament, complete with a 19 artillery gun salute fired from Point Jerningham across the harbour, the two prime ministers sat down for a bilateral meeting.
Luxon announced afterwards announced New Zealand would be contributing $6.24 million investment in the “Vietfruit” project, which will have New Zealand’s Plant and Food Research Institute contribute to climate resilience for Vietnam’s passionfruit industry.
Speaking at a signing ceremony for three new agreements between the countries, the Vietnamese prime minister said the talks were “very fruitful and special”.
'What's most important is that we continue to build upon and reinforce and consolidate the political trust between our two countries.“
New Zealand has in recent years sought to bolster its ties with Vietnam, a fast-growing Southeast Asian country, as it seeks to diversify its trade away from reliance on the Chinese market. Vietnam is New Zealand’s 15th largest trading partner, with two-way trade totalling $2 billion in 2020, before the pandemic, just under half of which was New Zealand exports.
In 2022, then-Prime Minister Jacinda Ardern led a trade delegation to Vietnam and met Pham Minh Chinh, among other high-ranking officials in the country’s socialist political system.
The Vietnamese prime minister reiterated on Monday his intentions for the relationship with New Zealand: greater contact between high-level officials, greater collaboration and transfer of technology, and greater defence and security ties.
“I've also proposed the establishment of a joint working group on key areas of co-operation between our two countries under the principle we will be resolute and resolved in turning words into concrete action with substantial outcomes,” he said, through a translator.
He said the two also discussed the South China Sea - a flashpoint of territorial dispute between China, Vietnam and other Southeast Asian nations.
“We agreed to exchange information and enhance cooperation at sea, so as to make the South China Sea a sea of peace, stability, friendship, cooperation and sustainable development.”
Pham Minh Chinh said had invited Luxon and wife Amanda to visit Vietnam. Luxon said he would would travel to Vietnam at a “mutually arranged time”, and would bring a trade delegation.
Luxon said his Government would “step up momentum in our relations and we will inject great ambition”.
Ministers and officials of both governments signed a trade collaboration agreement, an education partnership, and a finance agreement between the Treasury and Vietnam’s Ministry of Finance.