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Vietnamese Deputy Trade Minister Phan The Rue and his New Zealand counterpart John McKinnon have signed an agreement on the establishment of the Vietnam-New Zealand Joint Economic Committee in Wellington, New Zealand.
At its first session, held in New Zealand's capital from October 10-12, the two sides exchanged views on bilateral co-operation in politics, commerce, investment, development assistance, finance, and education and training. They also discussed regional and international issues of mutual concern, including the early conclusion of bilateral negotiations on Vietnam's entry to the World Trade Organisation (WTO), the coming East Asia Summit (EAS) and Vietnam's hosting of the Asia-Pacific Economic Co-operation (APEC) Summit in 2006.
The two sides noted with pleasure the fine developments in the friendly and co-operative relations between the two countries. They were of the same view that the establishment of the joint committee and its first session would strengthen the Vietnam-New Zealand Joint Co-operation Statement, signed by Prime Minister Phan Van Khai of Vietnam and New Zealand Prime Minister Helen Clark last May. Establishing the joint committee is a practical activity to celebrate the 30th anniversary of diplomatic establishment between the two countries, they added.
Vietnam will welcome the Governor General of New Zealand on her official visit to the country next month.
The two sides expressed their satisfaction at the steadily growing trade ties - two-way trade annually grew by 35-40% over recent years. Vietnam and New Zealand are likely to register a trade exchange value of US $190 million this year, up 22% compared to 2004. The two sides expect two-way trade to stand at over US $200 million in 2006.
To this aim, they agreed to promote trade by organising trade fairs and exhibitions, and exchanges of business groups who will seek business opportunities. The Vietnamese side asked New Zealand to assist Vietnam in refining laws that govern trade activities.
Regarding investment and development assistance, the Vietnamese side pledged to further facilitate New Zealand's investors. Vietnam highly valued New Zealand's increased development assistance to Vietnam. New Zealand has pledged to provide development assistance worth 10 million New Zealand dollars to Vietnam in the 2007-2008 fiscal year as compared to 3.3 million in the 2004-2005 fiscal year.
The New Zealand side affirmed continued support for Vietnam, which is one of the New Zealand's top two official development assistance recipients in Southeast Asia.
The two sides noted with pleasure the fine development of their co-operation in education, with an increasing number of Vietnamese students studying in New Zealand's universities and colleges. They agreed to boost educational co-operation in conformity with the spirit of the Memorandum of Understanding on educational co-operation signed between the two countries.
They also agreed to negotiate an agreement on double taxation avoidance, and expand scientific and technological co-operation.
Regarding bilateral talks on Vietnam's WTO membership, the Vietnamese side held that New Zealand should be more flexible in its negotiations. New Zealand affirmed its support for Vietnam to join the world's biggest trade body, saying that the move will be beneficial to both countries. The New Zealand side expressed hope that the next round of negotiations will be held at an early date in a location convenient to both sides.
New Zeland also expressed willingness to co-ordinate with Vietnam in organising the 2006 APEC Summit.
The Vietnamese side welcomed and supported New Zealand's participation in the coming East Asia Summit in Malaysia and expressed the belief that New Zealand would co-operate with the Association of Southeast Asian Nations (ASEAN), as with other EAS members for the success of the summit.
Nhan Dan - (14/10/2005)
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