Hanoi: Prime Minister Pham Minh Chinh suggested Vietnam and Australia discuss ways to boost two-way trade to the 20 billion USD target, especially via the opening of markets and facilitation of exports from both countries. The leader made the suggestion at a reception in Hanoi for Australian Minister for Foreign Affairs Penny Wong, who is in Vietnam to co-chair the 7th Vietnam-Australia Foreign Ministers’ Meeting.

According to Vietnam News Agency, the meeting emphasized the importance of enhancing economic cooperation between the two nations. Both parties acknowledged the significant growth in trade relations and expressed optimism about achieving the proposed target. Discussions focused on identifying potential sectors where both countries could benefit from increased trade and investment.

The meeting also covered other aspects of the bilateral relationship, including efforts to strengthen diplomatic ties and collaborate on regional security issues. Minister Penny Wong highlighted Australia’s commitment to working closely with Vietnam to address common challenges and promote mutual prosperity.

Both leaders agreed on the need to remove any existing barriers to trade and to create favorable conditions for businesses in both countries. They also discussed the potential for collaboration in emerging industries and innovation.