Vietnam-Australia export turnover increases 4.7 percent a year

After six years of implementing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), Vietnam-Australia export turnover increases 4.7 percent a year on average, said the Ministry of Industry and Trade yesterday.

A garment firm in HCMC (Photo: SGGP)

A garment firm in HCMC (Photo: SGGP)

Reporting at a seminar hosted by the ministry’s Asian Market Department, the ministry said that Australia is the nation with large import demand in the Asia-Pacific region. It is also a major export market of Vietnam for the last past.
At present, Vietnam has many advantages in exporting farm products, consumer goods, garment, footwear and wooden products to the Australian market. These commodities enjoy many tax incentives from AANZFTA.
Last year, the two countries’ bilateral turnover reached 5.26 percent, up 6.5 percent over the same period last year. Of the number, Vietnam’s export approximated $2.39 billion. The country enjoyed a trade surplus of $480 million from Australia.

By MINH HAI – Translated by Hai Mien

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