Vietnamese President To Lam arrived in Sydney on Sunday for a state visit focused on Vietnam-Australia trade, fuel security and regional tensions involving China. Bilateral trade reached AUD 30 billion in 2025.
The source said two-way trade has doubled since 2020, making Vietnam one of Australia’s fastest-growing trading partners. Vietnam is a major buyer of Australian coal, iron ore and aluminium.
Australia has also increased its reliance on Vietnam for fuel supplies amid pressure on global supply chains. The source did not provide a current fuel-import value or volume.
President To Lam is due to travel from Sydney to Canberra, where he will meet Prime Minister Anthony Albanese and Governor-General Sam Mostyn. Albanese said the two countries share strategic trust, mutual interests and strong cultural ties.
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About 350,000 Australians have Vietnamese heritage, according to Albanese’s statement cited in the source. Vietnam is also a major source of international students for Australia.
Regional security is expected to feature in the talks. At the Shangri-La Dialogue in May, To Lam warned about strategic competition, coercion and growing mistrust amid longstanding territorial disputes with China.
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To Lam has also overseen a major restructuring of Vietnam’s public sector since becoming Communist Party general secretary in 2024.
The source said his government cut eight ministry-level bodies, reduced the number of provinces from 63 to 34 and removed more than 100,000 public-sector jobs.
