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New Zealand and Vietnam continue strong trade

New Zealand and Vietnam continue strong trade

WILLING TON: New Zealand’s trade to Southeast Asia heads to Vietnam. In keeping relations strong, Vietnamese Prime Minister, Nguyen Xuan Phuc recently visited New Zealand to discuss increasing cooperation.

“Exports and imports between Viet Nam and New Zealand grew by more than a third in the last year alone,” said New Zealand Prime Minster Jacinda Ardern.

Vietnam News reported that two-way trade has been growing 15-20 per cent annually over the past five years. The signing of the Comprehensive and Progressive Trans Pacific Partnership (CPTPP) last Thursday is also expected to help deepen the relations between the two countries.

Vietnam and New Zealand are also participating in negotiations for the Regional Comprehensive Economic Partnership (RCEP).

Fruit comprises a significant portion of agricultural trade between the two countries. For New Zealand, over half of the product sent to Vietnam is comprised of agricultural goods.