Viet Nam and New Zealand agreed to enhance trade and investment co-operation and provide broader market access for agricultural products from the two countries.

The agreement came at the 6th meeting of the Viet Nam – New Zealand Joint Trade and Economic Commission (JTEC) in Ha Noi on Thursday.

The two countries agreed to reinforce co-operation in high-tech agriculture, commercial farming, workforce training, tourism and e-government. They also pledged to promote tourism.

Viet Nam asked New Zealand to help its localities develop value chains for fruits, peppers, coffee, cashews and other agricultural products, and to help develop origin tracking systems for produce.

Viet Nam also sought assistance in food safety management, aviation, disaster and climate change preparedness and language training for government workers.

New Zealand asked for more co-operation in aviation services, tourism and education. The two sides discussed these issues and several other potential areas for collaboration.

The countries agreed to continue backing each other within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP), the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), and Asia-Pacific Economic Cooperation (APEC).

The JTEC was set up in 2006 to help the two sides address key issues, promote trade and commercial links and facilitate investment opportunities. New Zealand has been one of Viet Nam’s key trading partners for years.

Viet Nam is New Zealand’s 16th largest trade partner. According to statistics from the General Department of Vietnam Customs, the two countries exchanged US$1.2 billion in goods and services last year, up 37 per cent from 2016. In the first nine months of 2018, bilateral trade amounted to $779 million, up 10.8 per cent from the same period last year.

Viet Nam’s exports to New Zealand totalled $357.8 million while its imports from the country were $421 million.

New Zealand operates 32 projects in Viet Nam with a total investment of $102.8 million, mostly in manufacturing, education, agriculture, forestry, construction, telecommunications, hospitality, arts and entertainment.

Viet Nam has eight projects in New Zealand worth a total of more than $30 million, mainly in manufacturing, retail, automobile and motorcycle repair, catering and agriculture. — VNS