Pictured above: Prime Minister Christopher Luxon.
New Zealand and Vietnam have taken a significant step forward in their diplomatic and economic relations, with Prime Minister Christopher Luxon and Vietnamese Prime Minister Pham Minh Chinh announcing the elevation of the bilateral relationship to a Comprehensive Strategic Partnership.
The milestone announcement, made during Prime Minister Luxonโs visit to Vietnam, marks 50 years of diplomatic relations between the two nations. The upgrade reflects a deepened commitment to expanding cooperation in key areas such as trade and investment, defence and security, education, and broader economic collaboration.
โStrengthening our relationship with Vietnam is incredibly important to New Zealandโs economic future, with more opportunities for businesses at home to access this crucial market,โ says Luxon. โI am delighted that Prime Minister Chinh and I today agreed to take the relationship between our countries to the next level.โ
As one of Asiaโs fastest-growing economies, Vietnam presents immense trade and investment opportunities for New Zealand businesses. The Comprehensive Strategic Partnership places New Zealand at the highest tier of Vietnamโs international relationships and underscores the strategic alignment between the two countries.
A key focus of the partnership will be the development of a Plan of Action over the next year. This plan will outline joint initiatives under five pillars: political engagement, defence, security and oceans, economics, trade and investment, climate change, science and technology, and education and people-to-people links.
Vietnam is New Zealandโs 16th largest trading partner, with two-way trade valued at over $2.5 billion annually. The strengthened relationship is expected to unlock further opportunities for exporters, particularly in the agricultural, technology, and education sectors.
โThis agreement also shows the priority my Government is placing on relationships with Southeast Asia โ a region crucial to our plan to grow our economy, create jobs, and lift incomes,โ Luxon says.
Prime Minister Luxonโs visit continues with business and political engagements in both Ha Noi and Ho Chi Minh City, aimed at further solidifying trade and investment ties. As New Zealand and Vietnam look ahead to 2025, the Comprehensive Strategic Partnership sets the stage for even greater economic collaboration and shared prosperity.
