Government leaders from Vietnam and New Zealand have asked relevant ministries and agencies in the two countries to boost trade promotion activities and further open markets for each other’s goods as part of measures to raise two-way trade turnover to $2 billion by 2024.

At their meeting on the sidelines of the 14th Annual Meeting of the New Champions (AMNC) of the World Economic Forum (WEF) in Tianjin, China, on June 27, Prime Minister Pham Minh Chinh and his New Zealand counterpart Chris Hipkins agreed that bilateral relations have developed fruitfully over the years.

Two-way trade continues to grow rapidly, hitting nearly $1.3 billion last year.

Prime Minister Chinh said the Vietnamese Government will create favorable conditions for New Zealand businesses to invest in Vietnam, particularly in areas where New Zealand has strengths and Vietnam has demand, such as education and training, manufacturing and processing technologies, agriculture, forestry, and aquaculture.

Prime Minister Hipkins agreed with the ideas and proposals from Prime Minister Chinh, particularly in promoting economic and trade cooperation and coordination in multilateral forums.