A recent trade mission has bolstered WA’s relationship with Vietnam, with a focus on business opportunities in energy, agriculture and education.
L-R: CCIWA Chief Economist Dr Daniel Kiely, WA Agriculture and Food Minister Jackie Jarvis and CCIWA Head of International Trade Services Michael Carter
Led by Premier Roger Cook, the delegation included CCIWA Chief Economist Dr Daniel Kiely and Head of International Trade Services Michael Carter, alongside WA businesses and industry stakeholders.
“The mission was a valuable opportunity to strengthen WA’s relationship with Vietnam and better understand where opportunities are emerging for our businesses,” Kiely said.
“There was strong interest in what WA can offer across energy, agriculture and education, and the conversations reinforced the importance of building long-term connections in the market.”
Kiely said Vietnam was emerging as a key trading partner for WA.
“WA’s exports to Vietnam are worth almost $2 billion a year, and have grown by almost 800% since 2010,” he said.
“Vietnam’s economy is one of the fastest growing in the world, almost doubling the rate of growth recorded across the rest of Southeast Asia last year.
“It is a major market for Australian energy, particularly LNG and battery energy storage systems, and a growing market for WA meat, wheat and horticulture.”
Education links create opportunity
International education was another priority for the mission, with Vietnam’s growing middle class presenting opportunities for WA education providers.
“WA is home to more than 18,000 people born in Vietnam and 22,000 who speak Vietnamese at home, so there is a strong cultural connection through the Vietnamese diaspora which will be attractive to students,” Kiely said.
“There are also seven direct flights a week between Perth and Ho Chi Minh, providing a strong connectivity.”
Why diverse trade relationships matter
L-R: CCIWA’s Daniel Kiely, Dai Thuan Group Vice President Pham Hoang Dung and CCIWA’s Michael Carter
Kiely said building relationships with markets such as Vietnam was vital amid growing global uncertainty.
“We’ve seen the instability created by the conflict in the Middle East and the imposition of tariffs from the United States,” he said.
“This highlights why diversity in our trading relationships is so important – we cannot put all of our eggs in one basket.
“WA’s proximity to Asia is a huge strategic advantage, and countries like Vietnam are experiencing significant economic and population growth.”
Get into the market to understand it
Carter said the mission also showed why exporters need to see a market firsthand.
“Trade missions are about getting out of the meeting room and into the market and building relationships face to face,” he said.
In Ho Chi Minh City, visits to Lotte Mart and gourmet retailer Dai Thuan Group gave WA businesses a closer look at consumer trends and how Vietnam’s grocery sector is evolving.
In Hanoi, a food security program connected WA primary industry businesses with the country’s food and agriculture market.
“To give you an idea of Vietnam’s niche premium eating out sector there are 11 Michelin one-star restaurants in the country – a great fit for WA’s premium wine, meat, seafood, dairy and horticultural products,” Carter said.
He said those visits helped exporters understand demand, meet potential buyers and build the relationships needed to pursue commercial opportunities. They also gave businesses a chance to test where their products and expertise may fit in a rapidly changing market.
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