HÀ NỘI — Việt Nam and New Zealand agreed to step up efforts to expand economic and trade cooperation to achieve the target of US$3 billion in two-way trade as soon as possible.

Minister of Industry and Trade Lê Mạnh Hùng and New Zealand's Minister for Trade and Investment Todd McClay met on August 13 during General Secretary and President Tô Lâm's State visit to New Zealand to discuss measures to deepen economic and trade ties at a time when the global and regional economies are facing mounting challenges and geopolitical uncertainties.

They agreed on the need to ensure the smooth flow of essential goods, strengthen regional supply chains and accelerate progress towards the $3 billion bilateral trade target.

Hùng reaffirmed that the comprehensive strategic partnership between the two countries has continued to develop strongly, by shared interests and close cooperation in both bilateral and regional multilateral frameworks.

He called for closer coordination to speed up market access for agricultural and food products, while stepping up two-way trade and investment promotion and encouraging New Zealand businesses to invest in Việt Nam.

He also urged efforts to expand cooperation in digital transformation, digital trade and cross-border e-commerce, as well as strengthening links between Vietnamese information technology and software companies and the New Zealand market.

The two countries should also continue to coordinate closely and support each other in multilateral cooperation, while making more effective use of free trade agreements to maximise benefits for their business communities, he said.

McClay welcomed Việt Nam's proposals and said he will discuss with relevant New Zealand agencies ways to help advance market-opening procedures for agricultural, aquatic and seafood products.

He also stressed that New Zealand supported Việt Nam during its holding of chairmanship of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and was ready to share expertise and provide assistance where needed.

The trade between Việt Nam and New Zealand reached $845 million in the first half of 2026, up 15 per cent from a year earlier.

Of the figure, Việt Nam's exports to New Zealand rose 19 per cent to $400 million, while imports increased 11 per cent to $445 million. — VNS