22:36 (GMT +7) - Monday 11/12/2017

Vietnam Today

Vietnam and Australia step up financial cooperation

Released at: 10:50, 21/10/2017

Vietnam and Australia step up financial cooperation

Photo from mof.gov.vn

The signing of MoU is a milestone in bilateral cooperative ties between the two countries, says Finance Minister Dinh Tien Dung.

by Van Long

Vietnam’s Ministry of Finance (MoF) and The Treasury of Australia will step up financial cooperation as per stipulated in a Memorandum of Understanding (MoU) inked by Minister Dinh Tien Dung and Treasurer Scott John Morrison, the Vietnam News Agency reports.

The MoU was signed on October 20 on the sidelines of the APEC 2017 Finance Ministers’ Meeting (FMM) which is being held in the central province of Quang Nam from October 19-21.

Accordingly, the MoU will create a framework for the two sides to carry out cooperation between the two agencies. It will help them review and evaluate cooperation so as to make adjustments and further enhance the efficiency of collaboration.

During a bilateral meeting with the Australian official before signing the MoU, Minister Dung thanked Australian experts for assisting the MoF in preparing contents for the FMM. 

He described the signing of the MoU as a milestone in bilateral cooperative ties, in which the MoF’s staff will have opportunities to learn state management experience from Australia and seek consultancy in building financial policies and implementing new legal documents in Vietnam.

The MoF’s staff will also have chances to take part in further training programmes organised by Australia as well. 

Mr. Dung voiced his hope that Mr. Morrison will support Vietnam in issues of mutual concern and benefit at regional and international forums.

The two ministers also exchanged views on the ASEAN-Australia Special Summit slated for March 2018 in Sydney. 

Minister Dung lauded the initiative to organise the summit, affirming that this is a significant progress step to diversify cooperation channels between Australia and ASEAN member states, including Vietnam.

Through the summit, Australia and ASEAN nations will tighten cooperation in the fields of mutual interests, especially regional and global issues, he added.

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