New Zealand provides over US$7 million to Vietnam in 2010-2011

New Zealand will provide US$7.1 million in aid for Vietnam in the fiscal year of 2010-2011, said visiting New Zealand Prime Minister John Key.

He was speaking at a reception given by PM Nguyen Tan Dung in Hanoi on July 12 who described the visit as a contribution to strengthening bilateral relations at a time when both countries are celebrating the 35th anniversary of diplomatic ties.

Mr Key congratulated Vietnam on performing its role as ASEAN Chair and expressed the hope that with young and dynamic workforce, Vietnam would continue to develop further.

The two leaders compared notes on the development of friendship and multifaceted cooperation since both countries established a comprehensive partnership in September 2009.

They discussed the possible signing of an action program for 2010-2013 on the sideline of the ASEAN Regional Forum (ARF) in July to strengthen their comprehensive partnership.

Mr Key said the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) to take effect on January next year as well as Vietnam’s participation in the Trans-Pacific Strategic Economic Partnership Agreement (TPP) will offer a wealth of new opportunities for trade and investment cooperation between the two countries.

Mr Key agreed with Mr Dung’s proposals to promote bilateral cooperation in politics, national security and defense, economics, trade, investment, education and training, science and technology, natural resources and the environment and labour.

The New Zealand PM announced that his country will grant US$7.1 million in aid to Vietnam in the 2010-2011 fiscal year.

Mr Dung spoke highly of New Zealand’s assistance to Vietnam as well as scholarships programmes and English training courses for Vietnamese students. This year, New Zealand plans to receive 200 Vietnamese guest workers.

He said Vietnam appreciates New Zealand’s proposal to nominate Vietnam as a non-permanent member of the UN Security Council in the 2015-2016 term and invited his PM Key to return to Vietnam for the East Asia Summit (EAS) and other ASEAN-related meetings scheduled for October this year.

Later, PM Dung and his counterpart attended a press briefing to announce the results of the talks to correspondents.

In response to questions posed by a VOVNews reporter on Vietnam-New Zealand relation, PM John Key affirmed that Vietnam is an important partner for New Zealand in the Southeast Asia. Both countries have developed fine and friendly relations over the past years, especially in the field of economics and trade.

Both countries have great potential in promoting cooperation in economics. For example, the Free Trade Agreement (FTA) between ASEAN-Australia-New Zealand and the Trans Pacific Partnership (TPP) offered huge opportunities for the two countries to promote trade ties, said Mr Key.

Later, PM John Key is expected to hold talks with State President Nguyen MInh Triet and pay a courtesy visit to Party Politburo member Truong Tan Sang.

Tags: Vietnam New Zealand cooperation