Speaking at the Argentina-Vietnam business forum, Pham Ngoc Canh, Deputy Head of the MoIT’s American Market Department introduced Vietnam’s two-decade economic achievements, the advantages of the business environment and the Investment Law in 2006.

Despite a sharp increase in two-way trade turnover, it remains modest and far from matching with the two countries’ potential, Mr Canh stressed.

Vietnamese Ambassador to Argentina Nguyen Van Dao underlined the importance of exchange visits by businesses to promote trade cooperation between the two geographically distant countries.

Two-way trade turnover between Vietnam and Argentina increased significantly from US$11.52 million in 1999 to more than US$650 million in 2009.

Raul Loeb, Deputy Head of the Argentine Chamber of Commerce for Asia Pacific expressed his delight at the increasing number of Vietnamese businesses eyeing the Argentine market, saying his country’s businesses are keen to export their farm products such as wheat flour and soybeans to Vietnam.

After attending the forum, Vietnamese entrepreneurs involved in steel, oil and gas production and fashion designs met with a number of potential partners in the country. On August 10, the delegation left Argentina for Brazil to continue its fact-finding tour of the biggest market in South America.