Western Australia seeks deeper cooperation with Ho Chi Minh City in critical minerals

Cook, who is also the state's Minister for Defence Industries, Tourism, Trade and Investment, made the statement during a meeting with standing deputy chairman of the Ho Chi Minh City administration Nguyen Loc Ha on Tuesday during his visit to Vietnam.

Cook highlighted potential cooperation in critical minerals and sustainable supply chains, noting that Western Australia accounts for around 50 percent of global lithium production.

The state has all the critical minerals needed to produce lithium batteries and is seeking new cooperation opportunities in this field, he added.

Western Australia also wishes to boost cooperation in energy transition, industries, education and vocational skills, and tourism, Cook said.

The state has a population equivalent to just 10 percent of Australia's total but contributes 20 percent of the country's GDP and around 50 percent of its total export value, according to Cook.

He noted that Western Australia and Ho Chi Minh City share similarities as dynamic and rapidly developing economies with many common interests.

He also expressed interest in strengthening trade ties with Ho Chi Minh City, particularly in imports, exports and investment.

Direct air links between the two sides would support education, training, tourism, investment and business activities, while creating more opportunities to export and import agricultural products, especially fresh fruit and other fresh produce, Cook said.

He underscored that a previous memorandum of understanding between Western Australia and the former Ba Ria - Vung Tau Province would remain in place and be expanded to cover the new Ho Chi Minh City following the administrative merger.

The two sides should quickly step up discussions toward signing a new memorandum of understanding to establish a framework for practical cooperation, Cook said.

At the meeting, Ha said Vietnam-Australia relations have developed strongly and comprehensively, with the two countries upgrading their ties to a comprehensive strategic partnership in March 2024.

He underscored that the upgrade has opened up more opportunities for cooperation in areas including trade, investment, science and technology, green transition, education and people-to-people exchanges.

Following the expansion of its administrative boundaries, Ho Chi Minh City has entered a new development phase with greater scale and development space, Ha said.

The city needs support from partners with strengths in energy, technology, education, skills development, logistics and green growth, including Western Australia, Ha said.

He proposed stronger connections between businesses on both sides in critical minerals, along with experience and technology sharing in mineral extraction and deeper processing, with the aim of developing critical-mineral supply chains serving the energy transition and high-tech industries.

The city also wants to expand cooperation in clean energy, energy transition and green industrial development, while strengthening links between universities, vocational training institutions and businesses to develop human resources for emerging industries, Ha said.

The two sides should also promote trade in high-quality agricultural and food products, develop sustainable supply chains, and strengthen tourism promotion, business connections and air links, he added.