PM expects diplomatic upgrade with Vietnam ‘soon’
Australian Prime Minister Anthony Albanese expects an upgrade in diplomatic relations between his country and Vietnam to a comprehensive strategic partnership soon, he said during his first visit to the Southeast Asian country.
“All connections and cooperation come together in our plan to elevate our relationship to a comprehensive strategic partnership and prime minister and I discuss today that we do that as soon as possible,” Mr Albanese said during a joint briefing with Prime Minister Pham Minh Chinh in Hanoi yesterday after the two leaders signed four cooperation agreements.
Australia and Vietnam are targeting to boost bilateral trade to US$20 billion (695 billion baht), according to Mr Chinh, who didn’t give a time frame. Last year, their trade was about $15.7 billion, according to Vietnam’s Ministry of Foreign Affairs.
The cooperation agreements include establishing ministerial-level trade talks and exchanging intelligence sharing on money laundering and terrorism financing. Mr Albanese, who was also scheduled to meet with other senior government officials and Communist Party Chief Nguyen Phu Trong, announced a US$69.4 million assistance package to support Vietnam’s transition away from coal.
Australia has signed comprehensive strategic partnership agreements with several other Southeast Asian nations in the past decade, including Indonesia, Singapore and Asean. Both Australia and Vietnam had previously expressed a hope to elevate their relationship to a similar level by 2023.
Vietnam is an important part of Australia’s policy of trade diversification, which ramped up in recent years in the face of Chinese sanctions. BLOOMBERG