Within the framework of the 9th Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP) Council Meeting held in Melbourne on November 19, 2025, Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Australian Minister for Trade and Tourism - Senator Hon Don Farrell chaired the 2nd Meeting of the Trade Ministers' Dialogue.
Speaking at the dialogue, Minister Nguyen Hong Dien said that the second Ministerial Dialogue on Trade was held at a very meaningful time. First of all, it was to continue to deepen the Vietnam - Australia Comprehensive Strategic Partnership established in 2024. Along with that, it was an opportunity for both sides to listen, promptly remove difficulties and obstacles, support businesses on both sides to expand markets, diversify supply chains and promote sustainable economic growth, towards the target of 20 billion USD in turnover in the coming time.
Vietnam's Minister of Industry and Trade Nguyen Hong Dien and Australia's Minister for Trade and Tourism - Senator the Hon Don Farrell
Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Australian Minister for Trade and Tourism - Senator the Hon Don Farrell co-chaired the 2nd Session of the Trade Ministers' Dialogue. Photo: Nguyen Minh
In addition, this is also an opportunity for Vietnam and Australia to continue promoting the maximum utilization of benefits from multilateral trade agreements such as CPTPP, AANZFTA and RCEP.
Minister of Industry and Trade Nguyen Hong Dien emphasized that the Ministerial Dialogue on Trade held right before the 9th CPTPP Council Meeting gives the two countries an opportunity to exchange and better understand each country's stance and viewpoint on many issues arising in the CPTPP. At the same time, it helps Vietnam and Australia coordinate more effectively to enhance the CPTPP Agreement and the role and position of each country.
Promote opening of each other's agricultural markets
During the 2nd Session of the Vietnam - Australia Trade Ministers' Dialogue, the two Ministers exchanged, discussed and agreed on many orientations and solutions in various fields to further increase bilateral trade.
Specifically on bilateral trade, Minister Nguyen Hong Dien highly appreciated the economic cooperation between the two countries in recent times. However, in the context of global trade facing many difficulties and challenges from protectionism, trade wars, and regional conflicts, the trade turnover between Vietnam and Australia has also been affected.
Citing data from Vietnam Customs, Minister Nguyen Hong Dien said that Australia has gone from being the 7th largest trading partner (in 2022) to now being Vietnam's 12th largest partner (as of 10 months of 2025). Bilateral trade turnover in the first 10 months of 2025 reached 11.6 billion USD, down 2.9%; of which Vietnam exported 5.6 billion USD, up 1.5% and imported 6 billion USD, down 6.7% over the same period.
Speaking at the dialogue, Minister of Industry and Trade Nguyen Hong Dien suggested that the two countries continue to open their markets for each other's agricultural products, thereby promoting trade growth.
Regarding the opening of agricultural markets, Minister Nguyen Hong Dien highly appreciated the active and effective cooperation between the two Ministries of Agriculture in the process of implementing procedures to open markets for goods of plant and animal origin. Currently, Australia has opened its market to Vietnamese grapefruit since October 2025. Vietnam has also opened its market to its blueberries.
In the coming time, Minister Nguyen Hong Dien proposed that Australia soon approve irradiation facilities for grapefruit so that Vietnamese grapefruit can soon appear in the Australian market; at the same time, he proposed that Australia continue to prioritize opening its market for Vietnamese lemons and that Vietnam will also prioritize opening its market for Australian lychees.
In addition, Minister Nguyen Hong Dien also proposed that Australia consider recognizing the certification of Vietnamese bivalve mollusks exported to Australia and requested that Australia soon implement its commitment to support five Vietnamese testing laboratories to participate in proficiency testing in the next three years (2026 - 2028) on shrimp disease testing.
Call on Australian businesses to increase investment in energy projects
Regarding cooperation in the energy sector, Minister Nguyen Hong Dien shared that Vietnam is actively calling for foreign direct investment (FDI) in the energy sector to implement the Power Plan VIII (adjusted to 2025), aiming to achieve an additional capacity of 150 GW by 2030, with a focus on green and sustainable energy transition. The total investment capital requirement is estimated at 150 - 160 billion USD in the next decade.
Meanwhile, Australia is one of the world's leading countries in renewable energy development and power transmission. Therefore, Minister Nguyen Hong Dien suggested that Australia encourage and call on Australian businesses to invest in Vietnam in the fields of renewable energy (especially solar power, offshore wind power), new energy production (green hydrogen and biomass), energy storage and smart power transmission, etc.
“Investment by Australian businesses not only realizes the potential and demand for energy cooperation between the two countries, but also creates opportunities for strong growth in Vietnam-Australia trade turnover,” Minister Nguyen Hong Dien emphasized.
Australian Minister of Trade and Tourism - Senator Hon Don Farrell said that Australia will make efforts to remove difficulties and barriers to facilitate bilateral cooperation between the two countries.
Regarding solutions for trade promotion cooperation, Minister Nguyen Hong Dien said that in order to soon bring bilateral trade to the 20 billion USD mark, the two sides need to continue to strengthen trade promotion activities. This is the most direct and effective activity to help trade and production enterprises of the two countries find and connect with each other.
In that spirit, Minister Nguyen Hong Dien suggested that the two sides continue to cooperate closely and effectively implement the Memorandum of Understanding on cooperation in the field of trade promotion between the Vietnam Trade Promotion Agency (Vietrade) and the Australian Trade and Investment Commission (Austrade), including coordinating the organization of international trade fairs; increasing the exchange of trade delegations...
The Ministry of Industry and Trade hopes to continue welcoming more Australian delegations and businesses to Vietnam to attend prestigious and large-scale fairs in Vietnam such as: International Supply Chain Connection Exhibition, Vietnam Food Exhibition, Spring Fair...
Regarding cooperation in ensuring the supply chain of essential minerals, Vietnam welcomes the proposal for cooperation in ensuring the supply chain of minerals from Australia, a trusted strategic partner with high-quality coal reserves and leading experience in sustainable mining and processing of minerals. Minister Nguyen Hong Dien suggested that the two countries maintain a sustainable supply chain of minerals and exploit the great potential to enhance investment cooperation in energy and important minerals.
Also during the dialogue, the two Ministers discussed and agreed on many solutions to promote cooperation in tourism development, education, transportation, logistics, etc.
Promoting bilateral and multilateral cooperation framework
Regarding bilateral and multilateral cooperation frameworks that the two countries participate in, Minister Nguyen Hong Dien affirmed that trade between the two countries is receiving great support from these frameworks.
Specifically, regarding the CPTPP Agreement, Minister Nguyen Hong Dien highly appreciated Australia's initiative in all CPTPP activities and hoped that Australia would continue to make more important contributions in the coming time.
“Vietnam is ready to closely coordinate with Australia and other members in CPTPP activities, helping to affirm the role of the CPTPP Agreement in promoting trade and investment relations among members, while contributing to handling regional and global trade issues,” Minister Nguyen Hong Dien emphasized.
Minister Nguyen Hong Dien highly appreciated Australia's initiative in all CPTPP activities and hoped that Australia would continue to make more important contributions in the future. Photo: Nguyen Minh
Regarding the review of the implementation of the CPTPP Agreement, Vietnam acknowledges and highly appreciates the efforts of CPTPP members in discussing the review of the implementation of the CPTPP Agreement. Vietnam will continue to coordinate closely with other members in this process, helping to bring more benefits to businesses and people, and at the same time helping to elevate the CPTPP Agreement so that it plays an even more important role in regional and global trade.
Regarding the application to join the CPTPP, Minister Nguyen Hong Dien said that recently, the CPTPP has become more and more attractive with many applications from economies. The consideration for joining the CPTPP should be carried out on the basis of consensus among member countries, ensuring that the joining country meets the high standards of the Agreement.
Minister Nguyen Hong Dien hopes that in 2026, Vietnam will take on the rotating chairmanship of CPTPP. Currently, Vietnam is making careful preparations for next year and hopes to receive active support and assistance from Australia when Vietnam takes on this position.
Regarding the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), Vietnam welcomes the Second Protocol amending the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area, which will come into effect on April 21, 2025, and will take effect for Vietnam and Thailand on August 22, 2025 and October 1, 2025, respectively. Vietnam hopes that the remaining member countries will complete the ratification of this Protocol in 2025, bringing maximum benefits to businesses in the region.
Vietnam also welcomed the implementation of the AANZFTA Agreement in recent times and affirmed that it will closely coordinate with Australia to implement the agreed agendas during the implementation of the upgraded AANZFTA Agreement.
At the dialogue, the two Ministers also discussed and exchanged many solutions to promote cooperation in tourism development, education, transportation, logistics, etc.
Regarding the bilateral and multilateral cooperation framework, the two Ministers affirmed their strong support for the WTO-led rules-based trading system. At the same time, they agreed to continue building positive momentum to support ambitious WTO reform and rule-making ahead of the 14th WTO Ministerial Conference in 2026 and beyond.
Regarding cooperation within the framework of the Regional Comprehensive Economic Partnership (RCEP) and the WTO, Vietnam affirmed that it will make efforts and contribute to the development, peace and prosperity of its partners and members. Minister Nguyen Hong Dien affirmed his strong support for the WTO-led rules-based trading system, and agreed to continue building positive momentum to support ambitious WTO reforms and rule-making before the 14th WTO Ministerial Conference in 2026 and thereafter.
Agreeing with and appreciating the contents of the discussion by Minister Nguyen Hong Dien, Australian Minister of Trade and Tourism - Senator Hon Don Farrell said that the Australian side will make efforts to remove difficulties and barriers to facilitate bilateral cooperation between the two countries.
At the end of the trade dialogue, Vietnam and Australia issued a joint statement. In the Joint Statement, the two Ministers acknowledged the achievements from practical initiatives within the framework of the Vietnam - Australia Economic Engagement Strategy, Australia's Southeast Asia Economic Strategy to 2040 and the Trade Ministers' Dialogue, which have created a favorable business environment and built a strong network of partners to support increased trade and investment.
During the 2nd Meeting of the Trade Ministers’ Dialogue, Ministers discussed priority initiatives under the Comprehensive Strategic Partnership to promote trade and investment in sectors critical to the industries of the future. Ministers stressed the need to work together in:
One is to maintain a sustainable mineral supply chain.
Second , support each country's climate and energy transition goals.
Third , tapping the huge potential to enhance investment cooperation in energy and critical minerals. Ministers recognized the importance of digital trade rules and looked forward to further deepening cooperation on digital transformation and the digital economy.
Nguyen Minh from Melbourne, Australia
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