Vietnam’s exports to Latin America this year are expected to reach US$750 million, said an official from the ministry’s Latin American Section. In order to fully exploit this market, it is necessary to help Vietnamese enterprises study demand and increase trade promotion efforts. In addition to existing key markets in Argentina, Brazil and Cuba, domestic firms need to increase exports to other regional countries, including Peru, Paraguay, Uruguay and Colombia.

Exports to Latin American markets include rice, rubber, coal, garments, leather and footwear products, electronics and computer components, and handicrafts.

Preferential loan funds for exporters to these markets should be established to encourage Vietnamese enterprises to take part in trade fairs in Latin America.

Vietnam earned US$650 million from exports to Latin American countries in 2007, year-on-year increase of 20 percent.