New Zealand and Vietnam have agreed to try and double trade between the two countries by 2020.
This afternoon in Auckland, Prime Minister John Key hosted his Vietnamese counterpart Nguyen Tan Dung, followed by a joint news conference.
This year, the countries celebrate 40 years of diplomatic relations since the end of the Vietnam War.
Mr Dung, who was in Australia before arriving in New Zealand, is taking the relationship seriously. He brought with him a delegation of about 100, including seven senior ministers from his government.
Both he and Mr Key said the relationship was in good heart.
Trade between the two countries is becoming more important, with Mr Key saying Vietnam is New Zealand's fastest-growing trade partner in south-east Asia.
"Two-way goods and services trade has increased by 120 percent since 2009," he said.
"Given the current rate of growth, we have agreed on an ambitious goal of doubling trade in goods and services from its current levels by 2020 to around $2.2 billion a year."
As part of that proposal, the two leaders discussed expanding links in education and agriculture, two areas in which Mr Key said New Zealand had proven expertise.
Support for TPP
Both countries are also involved in the Trans-Pacific Partnership (TPP) negotiations, and Mr Key rejected criticism the deal could impinge on New Zealand's sovereignty or drive up the cost of medicines.
Mr Dung said Vietnam, too, was keen on the proposed deal but it did involve challenges.
Speaking through a translater, he said Vietnam was not as developed as other countries negotiating the deal.
"That is why in the negotiation process all the ... must take into account the level of development of each country. This is very important to the member like Vietnam and Vietnam has repeatedly made it clear in the negotiation of TPP," Mr Dung said.
Mr Key said the agreement could take into account the concerns of less developed countries but it had to be a high quality and comprehensive deal.
Defence, air travel and food safety
Both prime ministers also agreed to strengthen defence ties.
Mr Dung said Vietnam had last year agreed to take part in United Nations peacekeeping missions and was keen to draw on the experience of New Zealand.
He suggested Vietnamese offices could receive training in peacekeeping from New Zealand's Defence Force.
The two also discussed regional tensions, particularly those between Vietnam and other south-east Asian countries and China over claims to territory in the South China Sea.
Mr Key said he had repeated New Zealand's view that the matter should be resolved peacefully through dialogue.
Meanwhile, two agreements were signed at the leaders' joint news conference.
One was an air services agreement, which would enable Air New Zealand to code share with Singapore Airlines on many more flights to Vietnam. At the moment, it can only code share on flights to just three destinations in Vietnam.
Food Safety Minister Jo Goodhew also signed an arrangement with Vietnamese Minister of Agriculture Cao Duc Phat to strengthen food safety co-operation.
Mrs Goodhew said the arrangement commited the two countries to sharing information on food safety and was an important step towards boosting trade.