Representatives from 50 importers and exporters in total in Da Nang on Wednesday attended a seminar, entitled ‘Promoting Trade between Viet Nam and Australia’.

The event was jointly held by the city’s branch of the Viet Nam Chamber of Commerce and Industry (VCCI), and the Tien Thinh International Migration & Investment Consulting.

In the coming time, the export of agricultural and aquatic products as well as the expansion of Vietnamese business investment into the Australian market will be implemented in a more favourable manner thanks to the signing and enforcement of free trade agreements with Australia.

Under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which took effect from 1 January 2010, Australia will cut 90% of import tariff lines in 2018 and 100% of them in 2020.

The signing of AANZFTA offers a great opportunity for businesses in Da Nang, in Viet Nam as a whole, to promote the export of their goods to the Australian market, especially when the import tariff lines reduce to zero percent.

Australia is now the 8^th largest exporter to Viet Nam, while Viet Nam is the 14^th largest exporter to Australia.

Australia is a potential export market for Vietnamese goods, especially seafood as its consumption in that country has increased rapidly to some one million tonne per year.