Australia PM Anthony Albanese visits Vietnam

Australian Prime Minister Anthony Albanese arrived in Hanoi on Saturday morning, embarking on an official visit to Vietnam from June 3-4 at the invitation of his counterpart Pham Minh Chinh.

The official visit is part of the Australian PM's four-day visit to Singapore and Vietnam starting June 1, also his first official visit to the two Southeast Asian nations.

It marks the 50th anniversary of the Australia-Vietnam diplomatic relations, PM Albanese's office announced in late May.

Prior to the Vietnam visit, he attended the 20th Shangri-La Dialogue, and met with his Singaporean counterpart Lee Hsien Loong for annual bilateral discussions.

In Vietnam, the PM will have meetings with senior leaders and promote Australian business and education ties. They will discuss ways to boost trade, investment, and education links and expand cooperation on climate, energy, and the environment.

Vietnam is an increasingly important economic and strategic partner for Australia in Southeast Asia, an area of focus for the Albanese government, his office said.

“My first official visit to Vietnam is an opportunity to celebrate the 50th anniversary of diplomatic relations and agree on new areas of economic, trade and other cooperation to deliver a stronger relationship into the future,” PM Albanese said.

Vietnam and Australia established their diplomatic ties in 1973, which were elevated to a strategic partnership in March 2018.

Australia was Vietnam’s seventh-largest trade partner in 2022. The Southeast Asian country’s export turnover to Australia reached $5.6 billion while its import spending for Australian goods and services reached $10.1 billion, up 26.2% and 27.3% against 2021, respectively, according to the Vietnam Customs.

Vietnam’s shipments to Australia include machinery, equipment, footwear, textiles, seafood, iron and steel. Meanwhile, Australia is a significant supplier of raw materials for the country, including coal, cotton, ores, minerals, and wheat.

Vietnam and Australia should work more closely in new areas such as innovation, renewable energy, circular economy and high-tech agriculture, culture, and tourism, Vietnamese Minister of Planning and Investment Nguyen Chi Dung said at the third ministerial-level Vietnam-Australia Economic Partnership Meeting held in Hanoi last month.

Australia is the 20th-biggest foreign investor in Vietnam with 599 valid projects and a total registered capital of $1.99 billion to date, according to Vietnam's Ministry of Planning and Investment. The top ones are South Korea with valid 9,666 projects worth $81.56 billion, Singapore with 3,240 projects worth $73.38 billion, and Japan with 5,091 projects worth $69.63 billion.