Trade between Vietnam and Australia in recent years has risen by nearly 10 percent a year on average. Australia is the eighth biggest export partner and the 12th biggest import partner of Vietnam. Vietnam is also the 14th largest trade partner of Australia in terms of both imports and exports.

Each year, Australia imports about USD 1.7-2 billion worth of vegetables, while Vietnam imports USD 20 billion of the products.

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Vietnam ships USD 173 million worth of garment and textile products to Australia, accounting for only 1.9 percent of the country’s total imports of the products.

In recent years, the number of Vietnamese products exported to Australia has increased, with the introduction of many new kinds of farm produce such as litchi, mango and dragon fruit. In 2019, Vietnamese longan will continue to be sold in Australia.

The 24 million-strong market has high food safety standards, requiring Vietnamese farms to ensure higher product quality, change their methods and choose the most suitable products.

Vietnamese tra fish is one success story. Currently, Vietnam has 98 percent of market share in Australia. After years of struggling in European and American markets, Vietnamese firms have paid much attention to developing varieties, material regions, harvesting and processing procedures, and defining market segments.

At the same time, domestic businesses have been advised to research the Australian market and learn preferential policies for Vietnamese exporters as stated in the ASEAN-Australia-New Zealand Free Trade Area.

Source: VNA