Australia works on Enhanced Economic Engagement Strategy with Vietnam
(VOVWORLD) - The Australia-Vietnam Enhanced Economic Engagement Strategy is helping realise the economic potential exiting between the two nations, the spokesperson for the Australian Department of Foreign Affairs and Trade (DFAT) told Vietnam News Agency correspondent in Sydney on Friday.
 President Nguyen Xuan Phuc receives Australian Minister of Foreign Affairs Penny Wong. (Photo: VNA)
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According to the spokesperson, the Australian Government is working with industries to implement activities in support of the strategy’s objectives to double two-way investment and become each other's top ten trading partners.
The spokesperson said Australia and Vietnam share a commitment to reaching net zero by 2050, adding that Australia is doubling its commitment to climate finance for developing countries in the Indo-Pacific to 2 billion USD until 2025.
In addition, Australia is supporting farmers in Southeast Asia with drought- and flood-resistant rice varieties that increase their harvests, and helping farmers trial approaches that reduce the greenhouse gas emissions from their rice fields.
The Australian government has publicly confirmed that it respects the Agriculture Visa agreement already signed with Vietnam in March and is discussing how to deliver on this commitment with the Vietnamese Government.