Vietnam National Assembly leader begins New Zealand visit
Chairman of the Vietnam National Assembly Vuong Dinh Hue and his entourage arrived in Auckland on December 3, beginning an official visit to New Zealand at the invitation of Adrian Rurawhe, speaker of the House of Representatives.
The visit is expected to bolster the strategic partnership between Vietnam and New Zealand, and open up new prospects for stronger cooperation between the two legislative bodies bilaterally and internationally.
The Vietnam – New Zealand relations have developed substantively and effectively over the years, especially since the two countries established the Comprehensive Partnership in 2009 and upgraded it to the level of Strategic Partnership in in 2020. It’s noteworthy that Vietnam is New Zealand’s first strategic partner in the Asia-Pacific region.
Despite the negative impact caused by the COVID-19 pandemic, two-way trade turnover has grown well over the years, reaching US$1.3 billion in 2021, up 26.7%. The first nine months of 2022 saw bilateral trade rise 23.4% year on year to hit US$1.1 billion.
As of August 2022, New Zealand had 49 FDI projects with a total capital of US$210 million, ranking 39 out of 139 foreign investors in Vietnam. At the same time, Vietnam had 11 projects in New Zealand worth US$38.4 million.
