NA Chairman attends Vietnam-Argentina business forum

National Assembly (NA) Chairman Vuong Dinh Hue attended the Vietnam-Argentina business forum in Buenos Aires on April 25 (local time), as part of his ongoing official visit to the Latin American country.

NA Chairman attends Vietnam-Argentina business forum hinh anh 1

NA Chairman Vuong Dinh Hue (second, left) at the Vietnam-Argentina business forum (Photo: VNA)

National Assembly (NA) Chairman Vuong Dinh Hue attended the Vietnam-Argentina business forum in Buenos Aires on April 25 (local time), as part of his ongoing official visit to the Latin American country.

Addressing the forum, Cecilia Todesca Bocco, Secretary for International Economic Relations under the Ministry of Foreign Affairs, International Trade and Worship of Argentina, said that the country is recovering after the COVID-19 pandemic, with GDP growth of 10.4% in 2021. Last year, the country enjoyed a record in export revenue at 102.8 billion USD, along with 81.5 billion USD in imports.

She highlighted the supplementary nature of the Argentine and Vietnamese economies. In the last five years, two-way trade expanded 54%, she said, adding that Vietnam has become the sixth largest trade partner of Argentina, with Argentina's exports of 3.2 billion USD and imports of 1.24 billion USD.

Argentina mostly exports beans and corn to Vietnam, while importing industrial products, footwear, rubber and machineries from the Southeast Asian country.

Cecilia Todesca Bocco held that there are plenty of rooms for the two sides to promote collaboration, underlining the need for them to strengthen cooperation among ministries, sectors and localities.

Highlighting Argentina's strengths in the food industry, she said that the country can support Vietnam in agricultural machinery and food processing.

The two sides also boast great cooperation in the field of energy and renewable energy, she said

Argentina, as the Chair of the Southern Common Market (Mercosur), will continue to strengthen exchanges with Vietnam.

NA Chairman attends Vietnam-Argentina business forum hinh anh 2

NA Chairman Vuong Dinh Hue and delegates at the forum (Photo: VNA)

For his part, NA Vice Chairman Tran Quang Phuong reviewed the achievements of cooperation between the two countries over the past 50 years across many fields of politics, diplomacy, economy, trade, culture, education and science, in both bilateral and multilateral aspects and in both regional and international scale.

Particularly, since the two sides set up their comprehensive partnership in 2010, the Vietnam-Argentina relationship has enjoyed impressive progress, with economic - trade cooperation becoming a bright spot, he noted.

Phuong said that two-way trade has increased strongly to 4.88 billion USD in 2022 from only 378 million USD in 2007, making Argentina the fifth largest trade partner of Vietnam in the Latin American region and Vietnam the sixth biggest trade partner of Argentina globally.

Argentina is one of the leading suppliers of corn and animal feed to Vietnam. Regarding investment, Argentina currently has five projects in Vietnam, ranking 122 among the 140 countries and territories investing in Vietnam.

The two sides have conducted many joint projects in agriculture, anthropology-forensics, science and technology, he said.

Underlining Vietnam's resilience amid the COVID-19 pandemic, Phuong noted that last year, while many countries suffered minus growth, Vietnam posted a 3% economic expansion with GDP growth of 8.2%, and 9.1% increase in import-export revenue. The country was also listed by the United Nations Conference on Trade and Development (UNCTAD) among the 20 top countries in FDI attraction with 36,000 valid foreign-invested projects worth over 422 billion USD.

Currently, the scale of Vietnam's economy is about 409 billion USD, making it the 5th largest economy in Southeast Asia, while its per capita income has topped 4,100 USD, and trade scale hit more than 730 billion USD. Vietnam has signed 15 free trade agreements with more than 60 countries and territories, including the largest markets in the world, and increasingly persified its markets, products and supply chains.

NA Vice Chairman Phuong said that Vietnam is ready to work with other countries, including Argentina, to seek measures to recover the global trade and supply chain.

He said he hopes Argentina, as a member of the Mercosur, will serve as a gateway for Vietnamese goods to enter the South American market. Meanwhile, Vietnam will act as a bridge connecting Argentina and the ASEAN as well as the Asia-Pacific region.

However, he pointed to difficulties facing businesses of both sides in trade activities, including a lack of a direct transport route, and suggested that the two sides persity import-export products, improving and generally balancing bilateral trade.

Vietnam wishes to increase the export of high-quality products of its strength meeting the needs of the Argentine market such as textile products, leather and footwear, agricultural and aquatic products, wood and furniture, and construction materials. Meanwhile, Argentina can continue to export corn and soybeans with stable supply and prices to Vietnam, he proposed.

Alongside, the two sides should expand technical cooperation and investment partnership in promising areas such as hi-tech agriculture, mining and lithium production, agricultural product processing, agricultural green hydrogen gas production technology, biotechnology, health care, green energy, and AI technology, he said.

The official also underlined the need for an increase in trade and investment promotion activities, affirming that Vietnam always welcomes and provides optimal conditions for Argentine businesses to seek business and investment opportunities in Vietnam.

Together with fostering coordination in settling obstacles hindering economic cooperation, the two sides should consider the opening of their markets for each other's strong products following a suitable roadmap, he said.

The official said he hopes Vietnam and Argentina will resume negotiations on a free trade agreement between Vietnam and the Mercosur, which is expected to help create a breakthrough in improving the competitive advantages for businesses of both sides in penetrating each other's market.

At the forum, under the co-chair of Cecilia Todesca Bocco, Argentine Secretary for International Economic Relations, and Deputy Minister of Industry and Trade Do Thang Hai, participants exchanged information on each other's market and explored business and cooperation opportunities, especially in the areas of each other's strengths and demands./.

en.vietnamplus.vn

Related News

Many foreign enterprises find opportunities and expand investment in Vietnam

Many foreign enterprises find opportunities and expand investment in Vietnam

VCN - In the context of the world investment wave shifting, Vietnam has the opportunity to become the world's factory, many foreign enterprises have been looking for investment opportunities as well as expanding investment in Vietnam.
Vietnam is ready to welcome a new wave of investment in the semiconductor industry

Vietnam is ready to welcome a new wave of investment in the semiconductor industry

VCN - Deputy Minister of Planning and Investment Tran Duy Dong (Photo) gave an interview to Customs Magazine about Vietnam's preparations to attract FDI into the semiconductor industry.
Opportunities for Vietnam to participate in the global semiconductor industry value chain

Opportunities for Vietnam to participate in the global semiconductor industry value chain

VCN - The global chip race is heating up, and Vietnam has a unique opportunity to assert itself as one of the participants in the semiconductor industry value chain.
Ho Chi Minh City: Enterprises overcome difficulties, exports lead the country

Ho Chi Minh City: Enterprises overcome difficulties, exports lead the country

VCN - HCM City led the nation in exports. In order to get this result, in addition to the market's recovery signal, there are also the efforts of businesses to overcome difficulties.

Latest News

MoIT to step up talks on new FTAs

MoIT to step up talks on new FTAs

The Ministry of Industry and Trade (MoIT) is set to actively coordinate with other ministries and sectors to step up the negotiations and signing of new free trade agreements (FTAs) with potential partners.
Vietnam, Russia step up cooperation in oil and gas exploration, exploitation

Vietnam, Russia step up cooperation in oil and gas exploration, exploitation

A delegation from the Petrovietnam Exploration Production Corporation (PVEP), led by Chairman of the PVEP Members Council Tran Quoc Viet, on May 24 held a working session with their colleagues of Russia's Zarubezhneft JSC in Russia to discuss potential cooperation areas.
Raising labour productivity shortest way to catch up with developed nations: PM

Raising labour productivity shortest way to catch up with developed nations: PM

Improving labour productivity is an important, urgent, strategic and long-term mission of the whole political system, and the shortest way for the country to catch up with developed nations in the region and the world, Prime Minister Pham Minh Chinh said on May 26.
Promoting sustainable growth with a creative economy

Promoting sustainable growth with a creative economy

VCN - Although the creative economy is a fairly new concept, in reality in Vietnam, each year the export of creative goods is helping Vietnam earn billions of dollars.

More News

MoIT receives hundreds of complaints related to e-commerce

MoIT receives hundreds of complaints related to e-commerce

The commission reports that 5.5 per cent of the complaints were related to e-commerce.
Việt Nam regards Japan as important, long-term partner: Deputy PM

Việt Nam regards Japan as important, long-term partner: Deputy PM

Deputy Prime Minister Lê Minh Khái conveyed Prime Minister Phạm Minh Chính’s invitation for his Japanese counterpart to visit Việt Nam at the earliest opportunity.
Industrial production shows signs of recovery

Industrial production shows signs of recovery

Vietnam's industrial production has shown signs of recovery and positive growth despite ongoing challenges, the Ministry of Industry and Trade has assessed.
PM orders building socio-economic development plans, budget estimates for 2025

PM orders building socio-economic development plans, budget estimates for 2025

Prime Minister Pham Minh Chinh on May 22 signed a directive on the building of the socio-economic development plans and state budget estimates for 2025.
Dong Nai aims to become one of Vietnam

Dong Nai aims to become one of Vietnam's largest economic centres by 2030

The southern province of Dong Nai aims to become one of Vietnam's three largest economic centres, after Hanoi and Ho Chi Minh City, according to the province's development goals for 2030.
To Lam becomes new State President

To Lam becomes new State President

The 15th National Assembly (NA) on May 22 elected To Lam as the President of the Socialist Republic of Vietnam.
Increase foreign investment resources from improving the business environment

Increase foreign investment resources from improving the business environment

VCN - In the two years 2024-2025, the proportion of foreign invested enterprises (FDI) expected to expand production and business will decrease compared to previous years, reflecting a more cautious trend of FDI enterprises due to the impact of the current unpredictable global economic context.
Rising middle class pushes wealth management potential in Vietnam

Rising middle class pushes wealth management potential in Vietnam

The personal financial assets market in Vietnam is forecast to reach hundreds of billions of US dollars in the next few years, providing significant opportunities for wealth management services.
The carbon credit market opens up many opportunities for businesses

The carbon credit market opens up many opportunities for businesses

VCN - Vietnam has great potential for carbon credit supply. Many businesses have proactively invested in technological innovation to participate in this market.
Read More

Your care

Latest Most read
MoIT to step up talks on new FTAs

MoIT to step up talks on new FTAs

The Ministry of Industry and Trade (MoIT) is set to actively coordinate with other ministries and sectors to step up the negotiations and signing of new free trade agreements (FTAs) with potential partners.
Vietnam, Russia step up cooperation in oil and gas exploration, exploitation

Vietnam, Russia step up cooperation in oil and gas exploration, exploitation

A delegation from the Petrovietnam Exploration Production Corporation (PVEP), led by Chairman of the PVEP Members Council Tran Quoc Viet, on May 24 held a working session with their colleagues of Russia's Zarubezhneft JSC in Russia to discuss potential cooperation areas.
Raising labour productivity shortest way to catch up with developed nations: PM

Raising labour productivity shortest way to catch up with developed nations: PM

Improving labour productivity is an important, urgent, strategic and long-term mission of the whole political system, and the shortest way for the country to catch up with developed nations in the region and the world, Prime Minister Pham Minh Chinh said on May 26.
Promoting sustainable growth with a creative economy

Promoting sustainable growth with a creative economy

VCN - Although the creative economy is a fairly new concept, in reality in Vietnam, each year the export of creative goods is helping Vietnam earn billions of dollars.
MoIT receives hundreds of complaints related to e-commerce

MoIT receives hundreds of complaints related to e-commerce

The commission reports that 5.5 per cent of the complaints were related to e-commerce.
Mobile Version