July 25, 2024
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Vietnam and Australia Strengthen Energy ties, Set to Sign MoU on Energy Cooperation

Vietnam and Australia are looking to strengthen their energy ties. The two countries will sign a memorandum of understanding on energy and mineral cooperation.

The development was announced by the Vietnam’s Ministry of Industry and Trade on Wednesday.

The deal will further enhance Australia’s exports of coal and liquefied natural gas to Vietnam,noting that Australia is now a key coal supplier to Vietnam, accounting for 44% of its total coal imports.

The Vietnamese Prime Minister Pham Minh Chinh, is on a visit to Melbourne.

According to sources, the two countries have been into partnerships over the years. Australia and Vietnam have been into government to government, business to business collaborations, with the aim of increasing trade and investment in energy and resources, diversifying markets, commodities and technologies, and ensuring energy and resources security for both countries.

 

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