Exports boost as Australia Signs WTO Deal with Vietnam

Australian exporters will benefit from better access to the Vietnamese market after Australia successfully completed bilateral market access negotiations with Vietnam.

The Deputy Prime Minister and Minister for Trade Mark Vaile said a signing ceremony in Hanoi marked the end of negotiations which are part of Vietnam's application for membership of the World Trade Organisation.

"This deal covers key Australian export interests on both goods and services, and it will enhance access for a range of products including dairy items, sugar, wheat flour, confectionery and fruit. On services, there are gains in banking, education, environment and mining services.

"The outcomes will improve trading conditions for Australian exporters and help provide a secure basis to expand our exports."

Mr Vaile noted the recent growth and development of Australia's trade with Vietnam.

"Vietnam is an important trading partner for Australia. In 2004-05, merchandise trade between Australia and Vietnam grew over 50 per cent to just under $4 billion, and services trade totalled $630 million. We also work closely with Vietnam in APEC and a number of other regional forums.

"Vietnam has still to complete bilateral negotiations with some other WTO members, and is still negotiating the overall terms of its membership of the WTO."

Contact: Richard Forbes (Mr Vaile's Office) 02 6277 7420, Emily Scanlan (Departmental) 02 6261 1555