Vietnam, New Zealand foster agriculture economies

Vietnam, New Zealand foster agriculture economies

HANOI, 6th April, 2022 – Vietnam and New Zealand affirmed their commitment to deepening the two countries’ agriculture and trade relationship at the second Vietnam – New Zealand Agricultural Dialogue held virtually on 6th April.

According to the Vietnam News Agency (VNA), the sides underlined that in order to realise the goal of lifting two-way trade turnover to US$2 billion by 2024, increasing bilateral agricultural cooperation and connections between the two countries is key.

Speaking at the ceremony, the Vietnamese Deputy Minister of Agriculture and Rural Development Le Quoc Doanh said, “Both nations are strong agriculture producers and exporters, with complementary products. The Vietnam – New Zealand Agricultural Dialogue will boost our connections, cooperation and two-way trade, in line with what our two Prime Ministers highlighted in the Strategic Partnership Joint Statement.”

Vietnam remains a promising market for New Zealand and vice versa due to robust demand for key agricultural products.

Vietnam’s agro-forestry-aquatic product export and import turnover to New Zealand hit US$549.2 million in 2021, posting a year-on-year growth of 11 percent.

For his part, Chief Executive of the New Zealand Ministry for Primary Industries Ray Smith emphasised that this is the opportunity for both sides to consider how the countries can work together to build resilience and vitality in their agriculture economies following the COVID-19 pandemic.

The two sides committed to enhancing bilateral trade, reducing agricultural greenhouse gas emissions, promoting food safety, utilising agriculture research and technology, and rural development.

Two-way trade between Vietnam and New Zealand topped $1.56 billion last year, an increase of 14 percent, and by last December, Vietnam was New Zealand’s 15th largest trading partner.