In his recent article, Dr. Vu Le Thai Hoang, Director of the Institute for Foreign Policy and Strategic Studies under the Diplomatic Academy of Vietnam, said since the two countries set up their diplomatic ties in 1973 and upgraded their relationship to a strategic partnership in 2018, they have witnessed strong, comprehensive, and strategic developments in the bilateral cooperation across spheres.
He highlighted the bilateral economic-trade-investment ties, with two-way trade hitting 13.8 billion USD last year, making Australia the 10th biggest trade partner of Vietnam, and the Southeast Asian nation the seventh largest of Australia.
For investment, Australia has run nearly 600 projects worth over 2 billion USD in Vietnam, while Vietnamese investments in Australia are valued at 600 million USD.
Australia remains one of Vietnam’s biggest non-refundable aid (ODA) providers with the funding amounting to 92.8 million AUD (60.9 million USD) each year during the 2022-2023 period, according to the article.
Hoang also reviewed people-to-people exchange activities between the two countries, as well as their effective support and cooperation at regional and international forums, especially within the Association of Southeast Asian Nations (ASEAN) and the Sub-Mekong region.
Touching upon the joint statement issued on March 7 as part of the visit, the scholar said bilateral friendship and cooperation have been developing firmly and comprehensively on the basis of mutual strategic trust and understanding, and the relationship has been consolidated through the reciprocity of the two economies, similarities in interests, and the close ties between the two peoples.
He called the joint statement on the establishment of the comprehensive strategic partnership an outcome and development of the 50-year relationship, which matches the needs, interests and aspirations of both sides’ people.
This is the most important relationship framework in the foreign policies of both countries, he said, noting it enables Vietnam and Australia to further enhance their relations, promote mutual political trust and understanding, and mobilise more resources for cooperation priorities, especially economy, science-technology, and sustainable development.
The scholar emphasised the cooperation spirit for rapid and sustainable development, and that the sole purpose of cooperation contents is to contribute to regional and international peace, stability, security and safety.
He viewed the comprehensive strategic partnerships between Vietnam and Australia, and others like China, Russia, India, the Republic of Korea, the US and Japan, as a testimony of Vietnam’s sound foreign policy, helping the Southeast Asian nation maintain a peaceful, stable environment for development, and advance its position and role in the international arena.
Regarding the common vision for the Indo-Pacific as affirmed in the joint statement, he said it is the universal principle in international relations and law.
By promoting a new vision that sees the Indo-Asia-Pacific as a common home for many countries to stay together peacefully in the spirit of mutual respect as well as respect for international law, Vietnam, Australia and their partners can nurture a sustainable and equitable future, he noted.
