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Australia-EU Conclude Free Trade Deal, Vietnam-Russia Sign Nuclear Plant Agreement
Australia and EU Conclude Free Trade Agreement Negotiations
Australia and the European Union (EU) announced they have concluded negotiations on a free trade agreement. Australian Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen held a press conference in Canberra, stating that talks launched in 2018 have successfully ended. This agreement is expected to be worth 10 billion dollars annually to the Australian economy.
According to the European Commission, Australia has agreed to remove over 99% of tariffs on EU goods. This includes a gradual removal of duties on EU dairy and instant removal on wine and chocolate. Conversely, the EU will abolish all tariffs on Australia's energy and resource exports, including critical minerals.
Vietnam and Russia Sign Deal to Build Nuclear Power Plant
Vietnam has reached a deal with Russia to build a nuclear power plant as domestic demand for electricity surges. The agreement was signed in Moscow following talks between Vietnamese Prime Minister Pham Minh Chinh and his Russian counterpart Mikhail Mishustin. Prime Minister Mikhail Mishustin emphasized that the creation of this plant will provide a powerful push to further cooperation in related fields, high technology, and fundamental and applied scientific research.
The two sides also agreed to cooperate in other energy sectors, as well as oil and gas. These are expected to help Vietnam strengthen energy security. The country needs to secure more power as it has faced major blackouts due to demand from its industrial sector and expanding middle class. More frequent extreme weather like droughts and typhoons is also straining its power supply. Vietnam once had an agreement with Japan to build a nuclear power plant, but its parliament canceled the deal in 2016 due to concerns over high costs.
Bangkok Motor Show Highlights EV Push as Fuel Costs Rise
The Bangkok International Motor Show opened on Wednesday, with a strong focus on fuel-efficient hybrid vehicles and electric cars (EVs). This comes as carmakers respond to rising fuel prices, driven by tensions in Iran. Thailand is a key production hub for many Japanese automakers, and 45 brands from Japan, China, and other countries are taking part in the event.
Japanese automaker Nissan is highlighting its expanded lineup of hybrid SUVs and minivans, emphasizing improved fuel economy. Mazda is unveiling a new electric vehicle for the Thai market and says it plans to step up sales of electrified models, including hybrids. Thee Permpongpanth, President & CEO of Mazda Sales, Thailand, expressed concern about the situation in Iran affecting the industry. Meanwhile, Chinese manufacturers such as BYD and Great Wall Motor are also showcasing compact EVs and plug-in hybrids, designed to cut electricity and fuel costs. The show reflects how rising fuel prices are increasingly shaping sales strategies across the industry.
*Source: YouTube: NHK World-Japan (2026-03-24)*
