Vietnam-Australia Ties Become comprehensive Strategic Partnership

Ceremonial gun salute welcoming Prime Minister Pham Minh Chinh and his spouse on their official visit to Australia. Photo: VNA

Since establishing diplomatic relations in 1973 and upgrading to a Strategic Partnership in 2018, the relationship between the two countries has witnessed strong and comprehensive developments across all fields, demonstrating strategic significance.

Notably in the economic-trade-investment sector, Vietnam has emerged as a dynamic economy in Asia with a rapidly growing market and competitive labor force. Bilateral trade turnover reached 13.8 billion US dollars in 2023, making Australia the 10th largest trading partner of Vietnam, while Vietnam ranks 7th among Australia's largest trading partners.

Investment relations between the two countries have also flourished with considerable potential, featuring nearly 600 Australian investment projects in Vietnam totaling over two billion US dollars in investment capital, and Vietnamese investment in Australia reaching 600 million US dollars. Australia remains one of Vietnam's largest bilateral non-refundable aid partners, with an annual ODA capital of 92.8 million AU dollars (approximately 60.6 million US dollars) for the 2022-2023 period. Additionally, people-to-people exchanges play a vital role in strengthening the friendship between the two nations. The Vietnamese community in Australia, numbering around 350,000 people, actively contributes to the socio-economic development locally and serves as a crucial bridge, enhancing mutual cultural understanding and economic cooperation between the two countries.

In recent years, Australia has become one of the most favored destinations for Vietnamese students, with over 32,000 Vietnamese students and researchers studying in Australia. The two countries also share effective cooperation in various international and regional forums, particularly within ASEAN and the Mekong sub-region.

According to the Joint Statement on the establishment of a comprehensive strategic partnership between Vietnam and Australia, there are six major cooperation directions in the future between the two countries, including both bilateral cooperation and regional and global issues. The most prominent among them is the spirit of cooperation for rapid and sustainable development, economic connectivity, science and technology cooperation, innovation, digital transformation, and green transformation. These can be considered high priorities and strategic drivers of the bilateral relationship. Moreover, in defense and security, the two sides will expand cooperation in the defense industry, maritime security, and intelligence sharing.

Prime Minister Pham Minh Chinh experiences technology applications researched and developed by CSIRO. Photo: VNA

 

 

 

 

Vietnam and Australia are committed to further developing relations across all fields and advancing the upgraded relationship based on respect for international law, sovereignty, independence, territorial integrity, and respect for each country's political system.

Both sides continue to call for the full implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) in 2002, and any Code of Conduct in the East Sea (COC) must be substantive, effective, and consistent with international law, particularly UNCLOS 1982, and should not prejudice the rights of other countries under international law. This outcome also reflects the practical implementation of Vietnam's foreign policy direction at the 13th National Party Congress, which includes enhancing and deepening relations with strategic partners, comprehensive partners, important partners, and traditional friends, aiming to serve the practical goals of development, maintaining a peaceful and stable environment, enhancing the country's position and reputation, and contributing to peace, stability, and development in the region and the world./.

Story: VNP    Photos: VNA    Translated by Hong Hanh