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Jacinda Ardern in Vietnam to Talk Stronger Trade Ties

  • 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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