Vietnam and New Zealand Aiming for USD 3 Billion in Bilateral Trade Growth
Vietnam and New Zealand have set a bold target: reaching USD 3 billion in bilateral trade in the near future. Leaders from both countries believe there is abundant potential to deepen cooperation across multiple fields, including trade, investment, culture, education, and innovation.
Strong Foundations in Vietnam-New Zealand Relations
During an official meeting, General Secretary Tô Lâm welcomed New Zealand’s Parliamentary Speaker, Gerry Brownlee, on his visit to Vietnam. This encounter marks not only a celebration of over 50 years of diplomatic relations but also an opportunity to reinforce mutual trust and cooperation. The meeting also coincided with Vietnam’s 80th National Day, further underscoring the symbolical importance of this diplomatic moment.
Political trust remains central. Vietnamese leaders affirmed that this foundation enables further exchanges at Party, governmental, and parliamentary levels, as well as among enterprises and civil society. Strengthening people-to-people ties was also emphasized—particularly through education exchange, language training, and visa facilitation.
Promising Trade and Economic Synergies
Vietnam and New Zealand share complementary economies. Vietnam has strengths in agriculture, manufacturing, and labor force, while New Zealand excels in high-quality agricultural produce, dairy products, clean technology, and education services. Both countries are actively seeking ways to leverage these complementary advantages.
To reach the USD 3 billion trade goal, both sides will focus on:
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Facilitating market access for key export products.
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Removing trade barriers and streamlining customs procedures.
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Encouraging businesses from both countries to increase investments, especially in sectors such as green economy, technology, digital transformation, and climate resilience.
Expanding Cooperation Beyond Trade
The vision for the Vietnam-New Zealand relationship extends well beyond trade volumes. Key areas of collaboration include:
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Education and Cultural Exchanges: Increasing scholarships and academic programs, easing visa issuance, and supporting direct flights to promote exchanges of students, researchers, and languages.
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Sustainable Development and Green Partnerships: Both governments plan to work more closely on environmental protection, renewable energy, digital economy, and innovation to respond effectively to climate change.
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People-Centered Relations: Improving ease of travel and ordinary exchanges via simplified visa procedures, infrastructural connectivity, and deeper connections among citizens of the two countries.
Challenges and Next Steps
While the USD 3 billion target is ambitious, it is achievable if both sides follow through on concrete measures:
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Government policies and trade agreements must be implemented in ways that reduce friction—for example, through regulatory harmonization and mutual recognition of standards.
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Business communities in both countries should actively seek partnerships and joint ventures, particularly in value-added sectors.
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Infrastructure and transport connectivity (e.g., air and sea routes) need further improvement to facilitate faster and more reliable movement of goods and people.
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Effective follow-up mechanisms are needed to ensure decisions taken at high levels translate into operational cooperation on the ground.
Conclusion
Vietnam and New Zealand are entering a new phase in their bilateral relationship. With political trust established over decades, and a shared vision for future cooperation, achieving a bilateral trade volume of USD 3 billion would mark a meaningful milestone. As both countries work to deepen economic ties, reinforce cultural and educational exchanges, and collaborate on sustainability and innovation, the benefits are expected to be broad and lasting—for their economies, their people, and regional stability.
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