Top Australian legislator to pay official visit to Viet Nam

The visit will be made at the invitation of Chairman of the National Assembly Tran Thanh Man, according to an announcement of the legislative body's Committee for Foreign Affairs.

Bilateral relations between Viet Nam and Australia have developed significantly since the two countries set up diplomatic ties in 1973.

On March 7, 2024, the two nations agreed to a Joint statement on the elevation of their relationship to a Comprehensive Strategic Partnership, placing Australia amongst Viet Nam's top-tier partners.

The Comprehensive Strategic Partnership will support expanded cooperation to climate, environment and energy, and digital transformation and innovation, and build on established collaboration across defense and security, economic engagement, education and development assistance.

Notably in the economic-trade-investment sector, bilateral trade turnover reached US$13.8 billion in 2023, making Australia the 10th largest trading partner of Viet Nam, while Viet Nam ranked 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 Viet Nam totaling over US$2 billion in investment capital, and Vietnamese investment in Australia reaching US$600 million.

Australia remains one of Viet Nam's largest bilateral non-refundable aid partners, with an annual ODA capital of AUD92.8 million (approximately US$60.6 million) 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./.