australia accesses vietnamese agricultural market picture 1

The project is part of a two-way agricultural market access agreement aimed at supplying Australian plums to the nation whilst Vietnamese passion fruit head to Australia.

Australia’s agro- fishery-forestry exports to the country are set to reach AUD3.7 billion, equal to about US$2.5 billion, in the 2023 to 2024 period.

The growing stone fruit trade will help to further strengthen the Australian side’s trade relationship with Vietnam, the Oceania nation’s sixth largest export market.

The agreement further supports the agriculture sector’s goal of becoming an AUD100 billion, equal to US$67 billion, industry and the Australian horticulture sector’s target of becoming an AUD20 billion, equivalent to US$13.4 billion, industry by 2030.

Both sides are currently in favourable negotiations regarding the export of Australian blueberries to the nation and Vietnamese grapefruit to Australia.

The Australian side affirmed that the country represents an important diversification market for Australian exporters and is therefore a focus of the “Investment: Australia’s Southeast Asia Strategy to 2040” programme.

Australian Minister for Agriculture, Fisheries and Forestry Julie Collins described the new market access as a significant milestone for the stone fruit industry, as well as for joint trade ties, saying that accelerating mutual market access reflects the strong relationship between the two countries. Indeed, it serves as the driving force to support the Australian agricultural sector to capitalise on export opportunities.

The Australian Government is in the process of focusing on opening doors for the sector, with this is being a positive step in achieving the goal, providing another key market for trade diversification, she added.

Meanwhile, Australian Minister for Trade and Tourism Senator Don Farrell affirmed that bolstering Australia’s trade with Southeast Asia, including Vietnam, is a top priority of the Australian Government, stating that stronger trade with Vietnam means more jobs and better wages for workers in the horticulture industry.

Passion fruit has become the fifth Vietnamese fruit to be officially exported to Australia, following mangoes, longans, lychees, and dragon fruit. Currently, the fruit is available in over 60 countries and territories globally.

VOV