Vietnam and Argentina Strengthen Ties Through Trade and Investment

Vietnam places a high priority on its relationship with Argentina, which is one of its most important partners in Latin America.

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The Vietnamese Embassy in Argentina and the Argentine Chamber of Commerce for Asia and the Pacific have jointly organized a meeting with local businesses in a bid to promote trade and investment opportunities between the two countries, VNA reported on Thursday.

The event, held on August 30th as part of the activities marking the 50th anniversary of the Vietnam-Argentina diplomatic relations, brought together approximately 30 enterprises operating in industries such as food, chemicals, high technology, logistics, fertilizers, and medicines.

Vietnam, Argentina Enhance Bilateral Trade, Investment Cooperation
The event, held on August 30th as part of the activities marking the 50th anniversary of the Vietnam-Argentina diplomatic relations, brought together approximately 30 Argentine enterprises. Photo: VNA

In his remarks, Ambassador Duong Quoc Thanh stated that Vietnam is a peaceful country with a stable political environment and a reliable destination for foreign investors.

The Vietnamese Government always creates favorable conditions for both domestic and foreign enterprises to carry out investment and trade activities in the best possible manner suitable for the capabilities of each party, said the diplomat.

Currently, Vietnam is the sixth largest trade partner and the 5th largest market of Argentina in Southeast Asia. It is also a key partner in Argentina’s South-South cooperation in the region. Meanwhile, Argentina is the third largest trade partner of Vietnam in Latin America, with their bilateral trade continuously increasing from USD 316 million in 2007 to USD 4.5 billion in 2022.

Thanh expressed his hope that the meeting will be an opportunity for both sides to present new initiatives, discuss specific proposals to expand the scope of cooperation, diversify the trade of goods, and enhance collaboration across various fields in the future.

At the meeting, representatives from the chamber and the business community exchanged their experiences in trading with Vietnamese partners.

They highlighted areas of strength where each country can complement each other and discussed ideas to promote partnerships with Vietnamese enterprises.

In April, National Assembly Chairman Vuong Dinh Hue met with Argentinean President Alberto Angel Fernandez in Buenos Aires and agreed to further deepen political-diplomatic relations and people-to-people exchanges, while taking advantage of their complementary products to bring bilateral trade to USD 10 billion by 2025.

They also expressed their intention to expand cooperation in new fields such as high-tech industry, digital transformation, innovation, climate change response, and sustainable growth, as well as strengthen cooperation between localities, aiming to establish a Strategic Partnership in agriculture, industry, and energy.

Hannah Nguyen