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Agreement On Trade And Economic Co-operation Between
Australia And The Socialist Republic Of Vietnam

Department Of Foreign Affairs And Trade Canberra, Australia

(Hanoi, 14 June 1990)

Entry into force: 14 June 1990

Australia and the Socialist Republic of Vietnam,

Noting the growth in trade which has occurred between their
two countries as a result of the Trade Agreement between
their two Governments done at Canberra on 26 November 1974,

Desiring to further promote and expand mutually beneficial
trade and economic co-operation between their two countries,

Having regard to their respective international rights and
obligations,

HAVE AGREED as follows:

ARTICLE 1

Objectives

The objectives of this Agreement are to:

(a) Provide a framework for increasing the involvement of
enterprises and organisations in both countries in bilateral
economic, commercial. scientific and industrial
co-operation;

(b) Facilitate the identification of specific commercial and
investment opportunities in both countries;

(c) Encourage co-operation in mutually beneficial areas of
interest, particularly in the sectors of co-operation
identified in Article III of this Agreement; and

(d) Encourage the expansion of financial and banking
co-operation.

ARTICLE II

Economic. Commercial. Scientific and Industrial Co-operation

In furtherance of the objectives set out in Article I

of this Agreement, the Parties shall

(a) Identify specific projects and other opportunities for
economic co-operation, investment in commercial ventures and
transfer of new industrial processes in their respective
countries, taking particular account of the expertise and
interests of relevant enterprises and organisations in the
other country;

(b) Promote and support trade and investment missions,
market analyses, exchange of commercial and marketing
information, business and institutional linkages, and other
initiatives and contacts which bring together potential
commercial partners;

(c) Encourage the mounting of fairs, exhibitions and other
promotion activities by enterprises and organisations of the
other country;

(d) Encourage visits and exchanges of delegations and
specialists of relevant state and commercial enterprises,
economic development and research institutes and
establishments, and other appropriate organisations;

(e) Review impediments to trade which might hinder the
achievement of the objectives of this Agreement, noting the
mechanisms for this purpose established by this Agreement;

(f) Encourage the transfer of technology and new industrial
processes in order to promote the adaptation and improvement
of existing and new products and processes;

(g) Encourage the establishment of consultancies, joint
ventures, licensing and other co-operative arrangements
between enterprises in the two countries;

(h) Exchange views and information through appropriate forms
on the formulation and application of science and technology
policies and promote co-operation in science and technology
in areas of mutual interest, especially those relevant to
economic and social development; and

(i) Identify other forms of co-operation which may be
considered suitable by both Parties.

ARTICLE III

Sectors of Co-operation

1. The principal areas of co-operation shall be in sectors
of respective economic, commercial, industrial and
development priorities of the Parties, and may include:

(a) Energy and mining

(b) Natural resources, including resource management,
forestry, fisheries, livestock and crops

(c) Infrastructure development

(d) Agriculture and food processing

(e) Transportation

(f) Light industry including textiles, clothing, footwear,
wool, cotton, skins and hides processing

(g) Science and technology

(h) Environment

(i) Education

(j) Information technology including communications

(k) Banking and finance

(1) Tourism

(m) Other fields of co-operation that may be jointly
decided.

2. Nothing in this Article shall preclude the pursuit by the
commercial sectors of both Parties of business opportunities
in other product areas.

ARTICLE IV

Exchange of Information

1. The Parties shall exchange in a timely fashion
information relating to:

(a) National economic strategies, priorities, plans and
forecasts and other significant policies and developments
which have an impact on trade and commerce between the two
countries;

(b) Domestic laws, regulations and practices relevant to
trade and economic co-operation between the two countries or
otherwise relevant to the achievement of the objectives of
this Agreement;

(c) The interests of commercial enterprises and
organisations in their respective countries in importing and
exporting goods and services; and

(d) Opportunities for economic co-operation and investment
in commercial ventures in their respective countries, taking
particular account of the expertise and interests of
relevant enterprises and organisations in the other country.

2. The Parties shall, where appropriate, bring such
information promptly to the notice of relevant commercial
enterprises and organisations in their respective countries.

ARTICLE V

Exemptions from Import Duties and Taxes

The two Parties shall, in accordance with the existing laws
and regulations of each country, exempt from payment of
import duties and taxes articles for display at fairs and
exhibitions, as well as samples of goods for advertising
purposes, imported from the country of the other. Such
articles and samples shall not be disposed of in the country
into which they are imported without the prior approval of
the competent authorities of that country and the payment of
the appropriate import duties and taxes, if any.

ARTICLE VI

Most Favoured Nation Treatment

1. The two Parties shall grant each other most favoured
nation treatment in the issue of import and export licences
and the allocation of foreign exchange connected therewith,
as well as in all respects concerning customs duties, other
taxes or charges imposed on or in connection with imported
and exported goods, and customs and other related
formalities, regulation and procedures.

2. The provisions of and criteria relating to the Australian
System of Tariff Preferences for Developing Countries shall
continue to apply to the Socialist Republic of Vietnam in
like manner as to other countries.

3. Paragraphs 1 and 2 of this Article shall not apply to
preferences or advantages accorded by either Party under an
established preference system or in accordance with any
agreement or arrangement constituting or leading to the
establishment of a free trade area or a customs union or to
preferences or advantages accorded by either Party in trade
with countries having common borders.

ARTICLE VII

Protection of National Security, Human, Animal or Plant Life
or Health

No provisions of this Agreement shall be interpreted in such
a manner as to prevent the adoption or enforcement by either
Party of measures to safeguard its national security or
human, animal or plant life or health or to exercise its
rights and obligations under international law.

ARTICLE VIII

Payments

All payments between Australia and the Socialist Republic of
Vietnam shall be made through banks in the two countries
authorised to buy and sell foreign currency, in Australian
Dollars, or in other mutually acceptable freely convertible
currencies in accordance with the foreign exchange
regulations currently in force in the two countries and with
general customary practice, or, may be effected fully or
partially by the delivery of goods under arrangements
mutually acceptable to both parties.

ARTICLE IX

Financing of Australian Exports

The Australian Government will use its best endeavours to
ensure that the normal facilities for the financing of
Australian exports on credit terms, especially medium and
long term Government Credit will be available to the
Socialist Republic of Vietnam where this is appropriate.

ARTICLE X

Mechanisms for Co-ordination and Consultation

1. Implementation of this Agreement shall require close
co-ordination and consultation between the two Parties.
Consequently, the Parties agree to establish a Joint Trade
and Economic Co-operation Committee to accomplish the
objectives of the Agreement. The Committee shall consist of
a Minister from each country who will act as co-chairmen and
other members. The Committee shall meet annually or as
required. Meetings will be held alternately in Australia and
Vietnam.

2. The Joint Trade and Economic Cc-operation Committee
shall:

(a) Review progress in trade and economic co-operation
between the Parties provided for in the Agreement and make
recommendations concerning the enhancement of such
co-operation;

(b) Act as liaison point to address and resolve particular
impediments to trade and economic co-operation which might
hinder achievement of the objectives of the Agreement in
accordance with Article II (e);

(c) Consider proposals made by either of the Governments,
within the framework of this Agreement, aimed at further
expansion and diversification of trade between the two
countries;

(d) Establish such arrangements as may be necessary whereby
officials might exchange information at an significant
forthcoming protects.

ARTICLE XI

Entry into Force

1. This agreement shall come into force on the date of
signature and shall remain in force for an initial period of
three years. Thereafter it shall continue in force until the
ninetieth day after either Government has given to the
other, through the diplomatic channel, notice in writing of
its desire to terminate the Agreement.

2. Upon the entry into force of this Agreement, the
agreement between Australia and the Democratic Republic of
Vietnam, done at Canberra on 26 November 1974, shall cease
be in force.

IN WITNESS WHEREOF, the undersigned, being duly authorised
their respective Governments, have signed this Agreement.
Done at Hanoi this fourteenth day of June in the year One
Thousand Nine Hundred and Ninety in two originals in the
English and Vietnam languages, both of which shall be
equally authentic.

For Australia:
(Signed)
JOHN N. 8UTTON

For the Socialist
Republic of Vietnam:
(Signed)
HOANG MINH THANG

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