Vietnam and New Zealand Seek to Boost Trade Ties to Reach $3 Billion Target

Party General Secretary and State President To Lam recently visited New Zealand, marking an opportunity for both countries to explore ways to strengthen their trade ties. The two nations have a complementary economy, with Vietnam's large market of over 100 million people and diverse production capacity aligning well with New Zealand's strengths in agriculture, food, dairy, meat, fruit, and high-quality processed products.

New Zealand is an open economy that has been part of various free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP). These agreements provide a solid foundation for expanding trade between the two countries, as Vietnam and New Zealand have maintained positive growth in bilateral economic and trade ties.

According to data from the Vietnamese Department of Customs, two-way trade reached $1.5 billion in 2025, with a year-on-year increase of 15.8%. Vietnam's exports to New Zealand rose by 3.4% to $711 million, while imports increased by 29.8% to $784 million.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that stable trade growth despite global economic uncertainties demonstrates significant untapped potential for the two countries. Both nations are members of several FTAs, which help businesses reduce costs, enhance competitiveness, and expand markets.