Vietnam-New Zealand businesses to seek new cooperation directions

Despite the Covid-19 pandemic outbreak, the trade relationship between Vietnam and New Zealand has strongly flourished.

New Zeland Ambassadorto Vietnam Tredene Dobson (left) and Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (right)

At the meeting with New Zeland Ambassadorto Vietnam Tredene Dobson, Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI) assessed, investment cooperation between the business communities of both countries has increasingly flourished, thanks in part to FTAs such as the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) and the ASEAN and Australia and New Zealand Free Trade Agreement (AANZFT).

"After Vietnam’s vaccination was widely conducted, Vietnam business delegations would explore the New Zealand market to diversify investment and business cooperation. In addition, it is possible to set up a working group like the Vietnam-New Zealand Business Council to strengthen the information exchange between businesses of the two countries", Dr. Vu Tien Loc suggested.

The New Zealand Ambassador Bodson affirmed that upgrading the strategic partnership between New Zealand and Vietnam in July 2020 is very important to boost the bilateral cooperation relationship. While the relationship between the business communities of both sides still has plenty of room for development in the future.

Regarding education, Ms. Dobson updated the VCCI President about the recent cooperation between the University of Waikato (New Zealand) and the National Economics University (Vietnam) to offer 2 undergraduate programs in supply chain management. and digital business.

Besides, several majorNew Zealand technology companies are working with Vietnamese partners in health software, meteorological forecasting, renewable energy, climate-resilient agriculture, digital banking…

Ms. Dobson expected, VCCI would continue to work closely with the Embassy of New Zealand to hold investment and business forums between Vietnam and New Zealand to expand bilateral relations.

Vietnam is currently New Zealand's 14th trading partner. New Zealand has a big need to import electronic products, garments, footwear, wood products, tropical agricultural products, aquatic products... from Vietnam, while Vietnam needs to import raw milk and dairy products, wine, mutton, fruit, raw wood, textile raw materials, footwear… from New Zealand.

Currently, New Zealand and Vietnam are both aiming to promote strong economic recovery post-COVID-19 pandemic, so they are looking for opportunities from FTAs to enhance future trade exchanges.