Boosting Argentina-Vietnam trade

09:02 | 12/08/2014 Cooperation

(VEN) - Argentinean Ambassador to Vietnam Claudio Ricardo Gutiierrez said that in recent time, Argentina-Vietnam trade had reflected positive growth trend in bilateral economic cooperation.

Argentinean Ambassador to Vietnam Claudio Ricardo Gutiierrez

Impressive growth

Argentinean Ambassador to Vietnam Claudio Ricardo Gutiierrez said that despite long distance and the global economic crisis, trade turnover between the two countries recorded good growth, reaching US$1 billion in 2011. In 2013, two-way trade turnover between Argentina and Vietnam reached US$1.4 billion, an increase of 34.4 percent compared to 2012. Vietnam’s export turnover to Argentina reached US$195.2 million, an increase of 21.9 percent compared to 2012 while import turnover stood at US$1.2 billion, an increase of 36.7 percent compared to last year.

According to the latest statistics from the Ministry of Industry and Trade, total trade turnover between the two countries in the first seven months of this year reached US$964 million. Vietnam’s export turnover to Argentina reached US$97 million while its import turnover stood at US$867 million.

Vietnam mainly exported computers, electronic products and components, leather and footwear and its accessories, garment and textile materials and its products to Argentina while imported animal feed and processed materials, garment and textile and leather and footwear materials.

Argentinean Ambassador to Vietnam Claudio Ricardo Gutiierrez said that the Vietnamese market remained promising for Argentinean products such as milk, wine, beef, olive oil and fruit. The quality of those products has been widely recognized around the world and Vietnamese consumers will have demand on those products.

The balance of trade between Vietnam and Argentina remained differential. According to statistics, Vietnam achieved trade deficit with Argentina in 2013. The ambassador said that Argentina was considered a supply of raw materials for Vietnam’s industrial sector and a strategic partner of many Vietnamese businesses.

Towards trade turnover of US$1.5 billion

Domestic experts said that Vietnam should take advantage of opportunities to boost seafood exports to the Argentinean market, contributing to narrowing the balance of trade.

Vietnam and Argentina signed about 30 agreements covering such fields of trade, investment, industry, agriculture, science and technology, sports, culture and education, energy, oil and gas.

In June 2013, Senasa recognized 203 Vietnam’s seafood processing facilities that are able to export their products to the Argentinean market. In June 2014, Vietnam and Argentina signed a memorandum of understanding on controlling food safety. The two countries accepted conditions and criteria of food hygiene and safety of each other. Therefore, Vietnam should focus on promoting seafood exports to its market.

In a meeting with Argentinean Vice Minister of Agriculture Javier Rodriguez, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu said that by multiple channels such as the intergovernmental committee between the two countries and high-level visits, the Vietnamese government often creates favorable conditions for export-import activities, contributing to reaching bilateral trade turnover of US$1.5 billion by 2015.

To achieve the goal, Deputy Minister of Industry and Trade Nguyen Cam Tu said that the two governments should work together to agree appropriate solutions to eliminate barriers. In particular, ministries and departments, especially the two embassies should closely cooperate in connecting businesses and introducing commercial products to the two business communities./.

By Hoa Le

Theo ven.vn