On March 7, 2024 in Canberra, Australia - at the Annual Leaders' Meeting, Australian Prime Minister Anthony Albanese and Vietnamese Prime Minister Pham Minh Chinh announced the upgrade of Australia-Vietnam relations to a Comprehensive Strategic Partnership (CSP).
Prime Minister Pham Minh Chinh (left) and his Australian counterpart - Anthony Albanese at a press conference after talks in Canberra, Australia, March 7, 2024. Photo: Nhat Bac (Source: vnexpress)
Accordingly, the two countries pledged to further deepen bilateral trade and investment ties, strengthen economic cooperation, and pursue more open trade and investment through global and regional economic integration. CSPs are also significant for Vietnam and Australia in establishing supply chain resilience and pursuing trade diversification to promote economic resilience.
The bilateral relationship is underpinned by strategic trust, mutual respect and based on the shared ambitions of the two countries. Last year (2023), Australia and Vietnam celebrated 50 years of diplomatic relations.
Opportunities for Vietnamese businesses
The landmark CSP milestone will support the expansion of cooperation on climate, environment and energy, digital transformation, building on established cooperation in the fields of defense and security, economic cooperation and education. It will also open up more opportunities for Australian and Vietnamese businesses to develop mutually beneficial trade and investment.
In particular, the two countries reaffirmed their commitment to the full and effective implementation of the Viet Nam-Australia Enhanced Economic Cooperation (EEES) Strategy and additional actions to implement Australia's Southeast Asia Economic Strategy to 2040.
The Vietnam-Australia Ministerial Dialogue on Trade on March 5 in Melbourne, Australia, was co-chaired by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Australian Trade Minister Don Farrell. (Source: Vietnam Economic News)
More importantly, the two countries are committed to promoting market access and trade facilitation measures for both countries, including in agriculture, fisheries and forestry.
In the area of labour and employment, the two countries are committed to increasing labour mobility, including through access for Vietnamese citizens working in Australia and Australian citizens working in Vietnam.
The two countries also recognized the importance of fostering a transparent business and regulatory environment, including supporting sustainable investment and finance through capital markets and other mechanisms.
The two countries will continue to expand cooperation on energy and resources, including through increased trade and investment. And will continue to work closely to promote collaboration between Australian and Vietnamese businesses, universities and research institutions.
Mavin will boost exports from 2025
Mavin Group is a strong Australian-invested agri-food enterprise in Vietnam with 5 animal feed processing plants, hundreds of livestock farms, 2 veterinary drug production lines, 1 food processing factory and more than 2,000 employees nationwide.
Since its establishment in Vietnam in 2004, Mavin has invested $100 million with total assets of more than $250 million. Currently, Mavin is one of the 500 largest enterprises in Vietnam, Top 10 leading agri-food enterprises in Vietnam and has won many awards from prestigious domestic and international organizations over the years.
Today, Mavin pursues a business model that is flexible and sustainable, socially responsible, transparent and inclusive and financially efficient. Mavin is implementing a series of large-scale livestock farm projects, applying the circular economy model in provinces and cities across the country, responding to the Government's call towards Net Zero 2050 goals, in order to join hands to achieve the goal of bringing net emissions to "zero".
Mavin's High-tech Livestock Complex Project in Gia Lai applies circular agriculture model
Not only contributing to the development of Vietnam's agriculture and food industry towards modernization and sustainability, Mavin is also an active enterprise in the role of connecting Australian businesses with localities of Vietnam.
On the occasion of the 50th anniversary of the establishment of diplomatic relations between Australia and Vietnam, Mr. David John Whitehead, Chairman of the Board of Directors of Mavin Group was also selected as 1 of 50 typical individuals who have made great contributions to promoting diplomatic relations between the two countries.
Facing the opportunities that CSP brings to Vietnamese businesses, Mavin said that the coming time, especially from 2025, will be a favorable opportunity to expand business activities overseas and the Group will consider developing its export markets, especially to Australia and possibly Europe and the US.
Mavin will also look at streamlining business lines, developing research and development (R&D) capacity, as well as digital transformation programs and focusing on export potential, while continuing to develop a circular agriculture model in Vietnam.
The post-pandemic period has been difficult for businesses, the good news is that Mavin has adapted well and been extremely resilient in the face of adversity to survive, grow and plant seeds for a sustainable future.
David Whitehead
Chairman, Mavin Group
March 3, 2024