The event, arranged by Ho Chi Minh City authorities, featured 50 pavilions run by 34 businesses, including 24 Vietnamese firms.
Addressing the opening ceremony, Deputy Prime Minister Trinh Dinh Dung underlined that the strong development of the Vietnam-Australia strategic partnership has offered new economic cooperation opportunities for businesses from the two nations.
He called on firms to grasp the chances to bolster investment and trade in a bid to double two-way investment.
Vice Chairman of the HCM City People’s Committee Tran Vinh Tuyen said the event is designed to help firms from the city bolster cooperation and connections with their Australian counterparts.
Through the event, HCM City is ready to welcome products from Melbourne and Victoria, with the aim of making the two sides become significant trade partners, he added.
Australia is currently Vietnam’s eight leading trade partner, while HCM City has attracted many investors from the country. To date, Australian firms have channelled US$197.3 million into 197 projects in Vietnam’s southern economic hub, mostly in industry and services.
In 2018, two-way trade between HCM City and Australia hit nearly US$979 million, of which exports to Australia reaching US$578.5 million. The city’s main exports included computers, electronics and components, garment-textile, footwear and machinery.
Import-export activities between Vietnam and Australia have also increased after the ASEAN-Australia-New Zealand free trade agreement took effect.
