This deal will contribute to the Australian horticultural sector’s aim to become a $20 billion business by 2030.
The Albanese Labor Government has secured a horticulture trade deal with Vietnam. Plums will be the new fruit added to the existing stone fruit package, which also includes peaches and nectarines.
The Albanese government said the deal is part of a two-way agricultural market access agreement that provides Australian plums access to Vietnam and Vietnamese passionfruit to Australia.
The Australian blueberries and Vietnamese pomelos will be next on the pairing trade agenda while negotiations are well underway.
Minister for Agriculture Julie Collins said that the new deal will further strengthen the trading relationship between the two countries
“This new market access is a significant milestone for the stone fruit industry and for the Australia-Vietnam trading relationship,” she said.
She further stressed that the Albanese Labor government strives to get more agricultural trade deals to achieve more trade diversification.
“The Albanese Labor government is focused on opening doors for our agriculture industry, and this is a positive step in achieving this goal, providing another key market for trade diversification.”
In the same light, Minister for Trade and Tourism, Senator Don Farrell, said that more trade with Southeast Asia, including Vietnam, would be a top priority for the Labor government.
“More trade with Vietnam means more jobs and better wages for workers in Australia’s wonderful horticulture industry,” he said.
Australia’s agriculture, fisheries, and forestry exports to Vietnam were worth $3.7 billion in 2023-24.
Growing trade for stone fruit will strengthen the trade relationship as Australia’s sixth-largest export market.
This outcome supports the agricultural industry’s aim to grow towards becoming a $100 billion sector and the Australian horticultural sector’s aim to become a $20 billion business by 2030.Currently, Vietnam is ranked as Australia’s eighth largest export trading partner. Australian exports to Vietnam are valued at approximately $7.7 billion, accounting for 2.1 percent of Australia’s total exports in 2023
Vietnam remains a significant trading partner, with a growing demand for Australian products and services.
Trade between the two countries continues to strengthen, supported by robust economic growth and increasing bilateral trade agreements.
Australia’s top 10 export countries include China, Japan, South Korea, India, the United States, Taiwan, Singapore, New Zealand, Vietnam, and Malaysia.