PM Pham Minh Chinh suggested Vietnam and Australia capitalise on existing multilateral trade frameworks to overcome common challenges, affirming Vietnam's readiness to discuss a bilateral trade and investment agreement to achieve the goal of raising bilateral trade to 20 billion USD and doubling two-way investment.

Vietnam and Australia on March 7 issued a joint statement on the elevation of their relations to a comprehensive strategic partnership on the occasion of official visit to Australia by Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam from March 7-9.