Trade official: Vietnam treasures economic ties with partners in Americas

Do Thang Hai, Deputy Minister of Industry and Trade, speaks at the meeting.

At a “Meeting with Partners from the Americas 2019” held for the first time by the ministry in Hanoi on February 25, Do Thang Hai, Deputy Minister of Industry and Trade, attributed Vietnam’s economic achievements over the past years to its effective co-operation with international partners, including those from the Americas.

Hai went on to say that co-operation in trade and investment between Vietnam and countries in the Americas has increased in recent years.

Currently, Vietnam has established trade partnerships with all 35 sovereign states throughout the Americas. Bilateral trade between the ASEAN country and these states has surged over four times from US$17.2 billion in 2008 to US$78.35 billion in 2018.

The country made over US$58.03 billion from overseas shipments to the Americas while spending some US$20.32 billion on imports from the region. As an investment destination, Vietnam is home to a combined 1,180 projects invested by 24 countries in the Americas, totaling US$15.5 billion in registered capital.

The deputy minister emphasized the fruitful traditional friendship and huge potential for stronger bilateral co-operation as major factors to enable Vietnam and countries in the Americas to work closer together for the sake of more comprehensive co-operation, notably in the fields of trade and investment.

Both sides stand on the opportune threshold of grasping chances to benefit both sides and enjoy extensive growth, Hai said.

Jorge Rondón Uzcategui, Venezuelan Ambassador to Vietnam, mentioned his strong belief that there is a bright prospect for further bilateral trade and investment co-operation between Vietnam and countries in the Americas.

The diplomat highlighted the technical assistance Vietnam has offered to the agricultural sector of some countries in the Americas. Of note, several rice cultivation and aquaculture projects funded by Vietnam have yielded considerable profits in Cuba and Venezuela, partly helping the two countries assure their food security.

Up to 200 delegates attended the “Meeting with Partners from the Americas 2019”. This kind of event is set to be held annually as a bridge to further improve traditional friendships as well as trade and investment relations between Vietnam and countries in the Americas.