CANBERRA - Australia and Vietnam agreed Tuesday to deepen cooperation on critical supply chains, according to Reuters.
Reuters reported that a joint statement issued during Vietnamese President Tô Lâm’s official visit said the countries would work together to support supply chains in critical minerals, semiconductors and clean energy. Reuters said the statement also highlighted concerns about restrictive trade practices that disrupt global supply chains.
The commitment comes as economic ties have expanded substantially. Australia’s Vietnam country brief valued two-way trade in goods and services at A$30.0 billion in 2025. An earlier Australian government economic engagement strategy put the equivalent figure at A$14.6 billion in 2020, meaning bilateral trade more than doubled over five years.
The latest cooperation builds on the countries’ Comprehensive Strategic Partnership, established in March 2024.
That framework committed Australia and Vietnam to building supply-chain resilience and pursuing trade diversification, alongside cooperation on energy and resources, digital transformation and critical and emerging technologies.
Standing alongside Australian Prime Minister Anthony Albanese in Canberra, Lâm described their discussions as “very open and candid,” according to News.com.au.
The outlet reported that Lâm said the two sides had agreed to further deepen political and strategic trust while strengthening their Comprehensive Strategic Partnership and defence and security cooperation.
Albanese placed the supply-chain agreement in the context of increasing international uncertainty, saying Australia and Vietnam shared an interest in reliable trade in food, energy and critical goods.
“At a time when the world is becoming more uncertain, resilient supply chains matter more than ever,” Albanese said.
