Viet Nam sits on the Gulf of Thailand, Gulf of Tonkin, and South China Sea (known as the East Sea in Viet Nam). It borders China, Laos, and Cambodia.
BILATERAL TRADE: NZ - VIETNAM
Bilateral cooperation and contact between New Zealand and Viet Nam has flourished in the last 15 years, boosted by Viet Nam’s rapid economic growth and its maturing confidence as an established ASEAN member and a global citizen. Current bilateral relationship is founded on a ‘Comprehensive Partnership’, established in September 2009 and focuses on:
- agriculture and agribusiness;
- clean technology, environmental management and disaster management;
- aviation; and
Between 2008 and 2014, goods trade to Viet Nam has grown over 60%, making it one of New Zealand’s fastest growing markets in ASEAN. The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) has provided fresh bilateral trade and business opportunities since 2010.
Viet Nam is New Zealand’s 21st largest market for goods and services. Total two way trade in goods was NZ$1.026 billion (US$803 million at current rate) to June 2014. New trade and business opportunities are now consolidating traditional commodities exports. Air New Zealand’s return to the region in 2015 will also increase New Zealand’s profile.
New Zealand and Viet Nam will commemorate 40 years of bilateral diplomatic relations in 2015. Education is a key priority in the relationship. Currently more than 1800 Vietnamese students are studying in New Zealand making Viet Nam New Zealand’s 11th largest source of international students globally.
New Zealand’s current development assistance to Viet Nam is focused on three areas: Education/Human Resource Development, Agriculture, and Disaster Risk Management.
There is a small community of New Zealanders living in Viet Nam and the Vietnamese community in New Zealand numbers around 7000 people.
TRADE STATISTICS (JUNE 2014)
Goods and services exports to Vietnam NZ $614 million (fob)
New Zealand’s major exports to Vietnam; Milk powder, butter, wood products, education services
Goods and services exports to New Zealand NZ$ 516 million (vfd)
Vietnam’s major imports to New Zealand; Electrical equipment, furniture, machinery
Source: Ministry of Foreign Affairs & Trade, New Zealand