Head of the Vietnam Trade Office in Australia Nguyen Phu Hoa said Vietnamese brands have been gaining increasing trust in Australia, following a program on building brands of Vietnamese products over the past years and efforts made by businesses.

Statistics of the General Department of Vietnam Customs showed that two-way trade neared USD 9.1 billion in the first nine months of 2021, a year-on-year surge of 50 percent.

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Vietnamese lychees promoted in Perth, Australia

It is noteworthy that farm produce exports expanded by 32 percent. Australian firms have reduced rice imports from other countries but still purchased a large volume of the grain from Vietnam.

Vietnam and Australia recently announced an Enhanced Economic Engagement Strategy, aiming to soon bring the bilateral trade to USD 15 billion and open up chances for Vietnamese exporters to penetrate the Australian market in the coming time.

Vietnam has carried out numerous projects and programs to help the domestic business community improve their capacity and capitalize on free trade agreements (FTAs). The Ministry of Industry and Trade has set up a website on FTAs to provide information on the deals and Vietnam's commitments. It also launched the Viet-Aus Trade app last year, which offers support and information for exporters.

At the same time, firms have paid due attention to gaining Certificates of Origin (C/O) for their products in a bid to be exempted from tariffs in accordance with the FTAs, Hoa added.

According to him, maintaining quality of products is the most important factor to keep competitive advantage. Exporters are also advised to keep updated on the Australian market in order to be prepared for arising problems.

Source: VNA