New impetus for Vietnam-Argentina cooperation

08:23 | 24/03/2019 Cooperation

(VEN) - Vietnamese Ambassador to Argentina Dang Xuan Dung believes the first visit to Vietnam by Argentinean President Mauricio Marci from February 19-21 gave new impetus to bilateral cooperation. 

new impetus for vietnam argentina cooperation

Specific actions

During the visit, leaders of the two countries discussed a possible future free trade agreement between Vietnam and the MERCOSUR states - Argentina, Brazil, Paraguay and Uruguay. They also discussed measures designed to increase bilateral trade in fruit and vegetables.

Marci also attended a special business forum with the participation of nearly 40 Argentinean companies and dozens of Vietnamese businesses, encouraging them to increase trade and investment cooperation.

Cooperation documents signed during the visit were expected to contribute to improving the legal framework for a more substantial and effective partnership in the future.

“I strongly believe in the bright prospects of future bilateral cooperation,” Ambassador Dang Xuan Dung said. Argentinean Minister of Foreign Affairs and Worship Jorge Faurie said Vietnam was an important part of Argentina’s international relations, especially in the field of economics. Positive changes that Vietnam has undergone over the past decade are admirable achievements, serving as a good example for Argentina, especially in export policy, he added.

Promoting economic cooperation

In recent years, Vietnam has been Argentina’s second largest trading partner in Asia and the fifth in the world. For Vietnam, Argentina is the second largest market in Latin America.

In 2018, bilateral trade reached US$2.9 billion, the highest level of trade between Argentina and Southeast Asian countries. The two countries are striving to increase bilateral trade to US$3.5 billion by 2020 and nearly US$10 billion by 2025.

Major Vietnamese exports to Argentina include textiles and garments, footwear, rubber, electrical and electronic products, boilers, mechanical equipment and instruments, wood products, bicycle and motorcycle spare parts, suitcases, handbags and handicrafts. Vietnam imports from Argentina soybean, wheat, cattle by-products, medicines, chemicals, plastics, fibers, materials for textile and garment production, machinery, autos and auto components, milk and milk products, cowhide, timber, resins, steel and wine.

The two sides expressed interest in atomic energy cooperation for peaceful purposes and highlighted the cooperation potential in the production of research reactors, as well as the application of atomic energy in healthcare through Argentina’s INVAP agency and Vietnam’s research institutes operating in the field of atomic energy.

The Vietnam Chamber of Commerce and Industry and the Argentine Chamber of Commerce have signed a cooperation agreement to contribute to further increasing bilateral trade.

At the invitation of Vietnamese President Nguyen Phu Trong, the President of the Republic of Argentina, Mauricio

Marci, and his wife paid a state-level visit to Vietnam from February 19-21.

Ngo Thu