Australia has agreed to work more closely with Vietnam to develop its capacity to trade, supporting the country with its market-opening economic reform program. In a joint statement following the 10th meeting of the Joint Trade and Economic Cooperation Committee (JTECC), the two countries pledged to continue to develop and diversify their trade relationship, which was worth more than $6 billion in 2010-11, having grown more than 10 per cent per annum over the last decade.Trade Minister Craig Emerson threw his support behind continued reform in the country, saying Australia's own market-opening had been a "long but successful journey. Vietnam's opening-up over the past 25 years has lifted millions out of poverty and helped drive a 16-fold increase in GDP since 1990."
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