Vietnam-Argentina seek to bolster economic, trade ties

Vietnam-Argentina seek to bolster economic, trade ties

The 6th meeting of the Vietnam-Argentina Inter-governmental Economic-Trade Committee took place in Buenos Aires from October 25-26, aiming to increase economic and trade cooperation between the two countries.

The 6th meeting of the Vietnam-Argentina Inter-governmental Economic-Trade Committee took place in Buenos Aires from October 25-26, aiming to increase economic and trade cooperation between the two countries.

The meeting was co-chaired by Vietnam’s Deputy Minister of Industry and Trade Do Thang Hai and Argentina’s Secretary for International Economic Relations Horacio Reyser.

The Argentinian official stated that the close cooperation between the two sides is being realised with the implementation of a number of technical cooperation projects.

He added that the business delegation that accompanied Minister of Foreign Affairs and Worship Argentina Jorge Faurie’s visit to Vietnam aimed to explore opportunities in pharmaceuticals, biotech, medical equipment, poultry and beef, seafood and fruits.

Secretary Reyser also stated that Mercosur, to which Argentina is a member, is willing to begin pre-feasibility talks towards negotiations on a possible free trade agreement between Mercosur and Vietnam.

For his part, Deputy Minister Hai stated that the two sides have been actively working together to implement technical cooperation projects with positive results, bringing substantive benefits to both countries.

He noted that in order to boost trade and investment cooperation, Vietnam and Argentina needs to exchange information more frequently and increase business, trade promotion and investment delegations.

The Vietnamese official also called on the two sides to work more closely to diversify each country’s exports to the other.

During the meeting, the two countries’ trade promotion agencies signed a memorandum of understanding to facilitate trade and investment between Vietnam and Argentina.

Argentina is currently Vietnam’s second largest trade partner in Latin America, while Vietnam is the South American country’s fifth largest global trade partner. Last year, the two-way trade value reached US$3.03 billion, of which Vietnam’s exports to Argentina were US$482 million.

 

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