In 2020，under the impact of the COVID-19 pandemic，the foreign trade of Oceania countries declined significantly，and their foreign direct investment maintained the declining trend of 2019. In 2021，the foreign trade of Oceania countries showed obvious signs of recovery，and the trade of major countries with China rebounded significantly. In terms of foreign trade and economic cooperation，major Oceania countries have formulated a series of foreign investment policies with national security as the core and strengthened national interest review systems. Looking ahead，the overall trend of the COVID-19，the relationship between major countries and its geopolitical influences，the world economic development situation，and the foreign investment policies of major Oceania countries will have important impacts on the foreign economic and trade cooperation of Oceania countries.