According to the Vietnamese Trade Office in New Zealand, Vietnam is currently New Zealand’s 16th largest trade partner. Bilateral trade enjoyed a three-fold increase in the decade since the two countries established their comprehensive partnership, from USD 320 million in 2009 to over USD 1 billion in 2018. The figure is expected to rise to USD 1.7 billion as the two are working to upgrade relations to a strategic partnership and both are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The two economies also possess numerous advantages in complementing and supporting each other. New Zealand needs to import commodities which Vietnam holds strengths, such as garment and textiles, footwear, wood, tropical farm produce, and fisheries products, while Vietnam needs to import milk and dairy products, wine, lamb, fruit, and raw materials for garment and textiles and footwear from New Zealand. At the signing ceremony between the Vietnamese Ministry of Education and Training and the Education New Zealand in 2018 Of note, New Zealand has permitted the import of three types of fresh Vietnamese fruit – mango, dragon fruit, and rambutan. Vietnam is also seeking to export fresh lemons and passionfruit to the country. In return, Vietnam… Read full this story
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