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Official Gazette

Wednesday, November 13, 2019

Vietnam, Argentina seek ways to cement economic partnerships

Updated: 09:52’ - 22/02/2019
A Vietnam-Argentina business forum took place in Hanoi on February 21 with a view to promoting cooperation between the countries’ enterprises.

The event, held by the Vietnam Chamber of Commerce and Industry (VCCI), was part of the State visit by Argentine President Mauricio Macri. It attracted representatives of more than 300 businesses of the two sides.

Vietnamese Deputy Prime Minister Vu Duc Dam said since their diplomatic ties were set up in 1973, the countries’ cooperation has continually been strengthened in almost all fields, especially economy. Bilateral trade approximated 2.9 billion USD in 2018 with Argentina the second biggest destination of Vietnamese goods in Latin America.

They have complementary export structures when Vietnam has strengths in footwear and textile-garment while Argentina’s strong products include plant oil, animal fat, and animal feed.

Argentine President Mauricio Macri (standing) addresses the business forum in Hanoi on February 21__Photo: VNA

Vietnam has been an important partner of Argentina in Southeast Asia, and it is making efforts to become the most important partner of the Latin America nation, he stressed.

The Deputy PM noted Argentina’s investment in Vietnam remains modest with only four projects, adding that the Vietnamese Government highly values these pioneer investors and hopes for more investment projects from the country.

Vietnam pledges to create favorable conditions for foreign investors, including those from Argentina, to do long-term business, Dam said.

Highlighting Vietnam’s economic development, he said the country is located in a dynamic region and has stable politics and society, young and abundant human resources, and a market of nearly 100 million people. It is also a gateway to the 650 million-strong Association of Southeast Asian Nations (ASEAN).

The economy has sustained fast growth for many years, reaching 7.08 percent in 2018. Its total trade revenue topped 482 billion USD last year. At present, 130 countries and territories are investing over 340 billion USD in over 27,000 projects in Vietnam. Each year, the country welcomes over 15 million foreign tourists, while nearly 8 million Vietnamese visit foreign destinations.

Dam expressed his belief that with the two governments’ attention and the two business circles’ dynamism, bilateral economic links will develop strongly, thus contributing to the countries’ sustainable relations.

The official also asked the Government and businesses of Argentina to provide optimal conditions for Vietnamese firms to invest in their country.

At the forum, President Macri said Argentine businesses want to partner with Vietnamese firms to share common interests. Like Vietnam, Argentina has been integrating extensively into the world. In a short period of time, it has won the recognition of the international community as seen in its election as President of the G20.

He emphasized that Vietnam is an increasingly important partner of Argentina, congratulating it on the substantial achievements in the change of the economic model and the international integration.

Argentina not only wants to export agricultural products to Vietnam but is also looking for ways to cooperate in agricultural technology development, telecommunications, use of atomic energy for peaceful purposes, and football development, the leader added.

At the forum, representatives of the countries’ ministries, agencies and businesses discussed the advantages and potential of the two economies, along with measures to boost business-to-business connections.

On this occasion, the VCCI inked a cooperation document with the Argentine Chamber of Commerce and Services.-(VNA/VLLF)

 

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