Sign up | Log in



Home  >>  Daily News  >>  Vietnam News  >>  Trade  >>  Australia to help strengthen Vietnam’s market economy

25 July 2009

Australia to help strengthen Vietnam’s market economy

Related Stories

July 20, 2009
Vietnam garment exports seen rising

June 7, 2009
Vietnam to ramp up rubber exports by 2015

May 19, 2009
Vietnam seen allowing depreciation of dong to boost exports

May 7, 2009
Vietnam slashes prices of rice exports

April 27, 2009
Vietnam earns $18.63 billion from exports in Jan-April 2009

Australia Friday pledged A$12 million ($9.8 million) to help Vietnam adjust after joining the WTO, Canberra's trade minister said Friday, adding that the countries sought closer economic ties, AFP reported.

After talks with Vietnam officials Simon Crean said the money was part of a multilateral programme focused on the "capacity-building needs" of Vietnam, which joined the World Trade Organization (WTO) in 2007.

WTO membership commits the communist nation to the global economic mainstream and international trading system. The aid is aimed at, among other things, helping to strengthen Vietnam's market economy and assist the rural sector to adjust to the changes, an Australian news release said.

"It's one thing to open markets. It's another to ensure that businesses are competitive enough to take advantage of that market opening," Crean said after talks with Vietnam's Minister for Planning and Investment, Vo Hong Phuc.

According to Australian government figures last year, Australia was Vietnam's 16th largest investor and two-way trade had grown by about 20 percent annually over five years to A$6.9 billion.

"We are very impressed with the way in which the trade and investment relationship has grown over recent years but we can do a lot more," Crean said, adding both sides are resolved to put in place the framework for closer ties.

Crean is accompanied on his trip by an Australian business delegation and was to continue his visit in the southern commercial capital of Ho Chi Minh City at the weekend. Vietnam is a member of the Association of Southeast Asian Nations (Asean) which signed in February a major free trade pact with Australia and New Zealand.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand