Representatives of some 20 leading businesses from New Zealand accompanied Prime Minister Jacinda Ardern to the Viet Nam-New Zealand Business Dialogue on November 15 to sound out business opportunities, which reflects the two countries’ determination to increase two-way trade turnover to US$2 billion by 2024.
Themed “A Strategic Partnership in Trade and Investment”, the dialogue was jointly held by Viet Nam’s Ministry of Industry and Trade (MoIT) and Ministry of Planning and Investment, and the New Zealand Embassy in Viet Nam.
It offered a platform for policymakers and businesses of the two countries to discuss investment and business opportunities and promote bilateral trade.
In her remarks, PM Ardern stressed the important role of enterprises in bolstering cooperation between the two countries, and that the bilateral trade and investment ties have been growing despite challenges induced by the COVID-19 pandemic.
The leader said the two sides shared the belief that bilateral trade will hit $2.4 billion by 2024, adding the two economies are reciprocal with suitable products like milk, wood and food.
The two economies have also been connected together through free trade agreements (FTAs) like the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and both have effectively materialised these deals, she continued.
The visiting PM is accompanied by many businesses and representatives from competent agencies of New Zealand, which she called a great opportunity for the two sides to seek ways to foster cooperation in agriculture and other spheres like food, beverage, education, health care, energy, technology, innovation and environmental management.
Ardern used the occasion to invite Vietnamese firms to visit New Zealand to scope out investment and cooperation opportunities in the country.
MoIT Minister Nguyen Hong Dien noted that trade and investment remained an important, priority cooperation area between Viet Nam and New Zealand which has yet to be fully tapped.
Two-way trade tripled over the past decade, and it was still growing strongly even amid the regional and global economy and commerce impacted by the pandemic and geo-political uncertainties, he said.
The minister suggested the two economies tighten their cooperation, and called on New Zealand businesses to invest in such areas as digital economy, digital transformation, new and renewable energy, high-tech agriculture, safe food supply chains, post-harvest preservation technology, and the processing of agricultural and aquatic products in Viet Nam.
Participating businesses raised proposals to the two Governments, focusing on further improving the investment environment in both countries. — VNS