New Zealand Prime Minister Jacinda Ardern is leading a trade delegation to Vietnam to strengthen ties between the two countries
The two countries are targeting $2 billion in two-way trade annually by 2024
New Zealand has 42 foreign direct investment (FDI) projects in Vietnam with a total registered investment of around $209.5 million as of 2021
These projects are in a variety of sectors including real estate, education, and manufacturing
Trade between Vietnam and New Zealand is governed by three regional agreements: the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP), the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), and the Regional Comprehensive Economic Partnership (RCEP)
Both countries have also signed the Indo-Pacific Economic Framework (IPEF)
New Zealand's top exports to Vietnam are dairy products, edible fruits, nuts, and peel of citrus fruit, wood and articles of wood, wood charcoal, and miscellaneous edible preparations
Vietnam's top imports from New Zealand are dairy products, fruit and vegetables, machinery and mechanical appliances, textiles, and chemicals
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