Australia will spend $105million to help Vietnam in its clean energy transition.
The deal was announced by Prime Minister Anthony Albanese in Hanoi on Sunday, following a meeting with his Vietnamese counterpart Pham Minh Chinh.
Mr Albanese on Sunday was to meet individually with Vietnam’s Prime Minister, National Assembly President, President of the Socialist Republic, and General-Secretary of the country’s Communist Party.
The meeting is part of a concerted effort to strengthen trade and economic ties between Australia and Vietnam.
The $105million deal was announced by Prime Minister Anthony Albanese (left) following a meeting with his Vietnamese counterpart Pham Minh Chinh (right) in Hanoi
Mr Albanese said Australia wanted to work together with its neighbours, especially when dealing with the challenges of climate change.
‘I am pleased to announce that Australia will be stepping up our support for Vietnam’s energy transformation,’ Mr Albanese said.
‘With an important package of new overseas development assistance of $105 million for supporting sustainable infrastructure planning.
‘For stimulating private investment in clean energy infrastructure, and delivering technical assistance to develop Vietnam’s critical mineral sector.’
The talks, aimed to strengthen ties with the strategically important nation, will focus on Australia’s ‘shared interests’, namely the status quo challenge China poses in the South China Sea, and the bilateral trade relationship.
Mr Albanese also raised issues of defence and security during his talks, given the southeast Asian country’s shared border with China.
Mr Albanese said he and his Vietnamese counterpart had discussed their shared vision of ‘an open, stable, secure, prosperous, and resilient Indo-Pacific, that is respectful of national sovereignty’.
‘Vietnam and Australia want to see a continuation of the peace and progress our countries have enjoyed in the past century,’ he said.
‘We are committed to working together bilaterally and consult with ASEAN countries and through multilateral forums to further our vision.’
he deal is aimed to help Vietnam develop a sustainable infrastructure for clean energy (pictured, Mr Albanese and Mr Chinh walking in welcoming ceremony at the Presidential Palace in Hanoi)
Mr Abanese said a comprehensive strategic partnership between Australia and Vietnam was in the works ‘as soon as possible’
‘All of this connection and cooperation comes together in our plans to elevate our relationship to a comprehensive strategic partnership, and the prime minister and I discussed today, how we can do that as soon as possible,’ he said.
‘To signal the trust that we each other, as top tier partners and enduring friends.’
On Saturday, Mr Albanese said the trip marked a milestone in marking 50 years of diplomatic relations between Australia and Vietnam.
‘I’m very pleased to be here on my first official visit to Vietnam as Australia’s Prime Minister, to mark the 50th anniversary of our diplomatic relationship,’ Mr Albanese said on Saturday.
‘We are strategic partners and we’ve been enduring friends over that 50 years.’
Mr Albanese’s arrival in Hanoi on Saturday was met with much fanfare, as locals and the media alike swamped him at a beer and bahn mi restaurant.
The meeting is part of a concerted effort to strengthen trade and economic ties between the two countries. (pictured, Mr Albanese sharing a beer with locals at a bahn mi restaurant)
Mr Albanese said the two countries had signed an agreement to halt international money laundering.
‘It will enable financial intelligence to be shared, to interrupt money laundering and terrorism financing,’ Mr Albanese said.
The two leaders also agreed to expand the program which allows Australia’s national science agency to collaborate with its Vietnamese counterparts.
He will return home to Australia on Sunday night.
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