Australian Prime Minister Anthony Albanese said on Thursday the country was raising ties with Vietnam to the level of a comprehensive strategic partnership, with an annual dialogue on minerals amid a push to diversify supply chains away from China.
“Elevating our ties to a comprehensive strategic partnership today places Australia and Vietnam among each other’s significant partners,” Albanese told a news conference in Canberra.
The ties upgrade marks the latest success for Communist-ruled Vietnam’s “bamboo diplomacy”, after it boosted relations last year with the world’s top powers as it tries to navigate rising global tensions.
“Mutual political trust between the two countries has been elevated, reaching the highest-ever level,” the official Vietnam News Agency reported on Thursday.
The partnership will support expanded cooperation on a range of issues, including climate, environment and energy, defense and security, and economic engagement and education, a joint statement by the two countries said.
Albanese and Chinh on Thursday also witnessed the exchanges of 12 cooperation documents on areas including energy, minerals, agriculture, banking and finance, according to the Vietnamese government.
Australia is a major producer of critical minerals that are used in everything from smartphones to automobiles, while Vietnam has some of the largest untapped deposits in the world.
“An annual ministerial dialogue on energy and minerals will drive cooperation in our energy and resources sectors, including critical minerals supply chains,” the statement said.
