Argentine businesses keen to ramp up trade ties with Vietnam

The move comes following a delegation of 30 businesses from Central Argentina recently arriving in the southern city as they to seek greater investment opportunities.

These Argentine businesses are mainly operating in the field of food, farm produce, raw materials for agricultural production, animal feed, medical equipment, and consumer goods of all kinds.

Upon addressing the event, Ambassador of the Republic of Argentina to Vietnam Luis Pablo María Beltramino emphasised that the South American country is Vietnam’s third largest trading partner in Latin America.

Furthermore, Vietnam also represents Argentina's largest trading partner in Southeast Asia and sixth globally, he said, assessing that the country plays an important role in Argentina’s South-South co-operation policy.

Over the past decade, Vietnamese exports to Argentina increased by roughly 700%, with the country gradually affirming its position amid the global supply chain thanks to its outstanding growth potential coupled with the shift in trade and investment in 140 countries worldwide.

Vo Tan Thanh, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), highlighted the co-operation relationship between the Community of Latin American - Caribbean States (CELAC) and the ASEAN, as well as the comprehensive partnership that exists between Vietnam and Argentina.

He added that both sides have continued to maintain and implement many co-operation mechanisms effectively, via both direct and online forms amid the COVID-19 pandemic.

Thanh stressed that in order to raise bilateral trade turnover to new heights, the Vietnamese side wants Argentina to create more favourable conditions for the local business community to gain access to the Argentine market. Indeed, there are hopes that the focus will be placed on advantageous Vietnamese commodities such as agricultural products, textiles, furniture, and handicrafts.

Moreover, both nations must seek to boost co-ordination in implementing trade promotion activities, as well as providing information to the businesses community, as well as supporting businesses as they attend fairs and trade exchange, he noted.

Moving forward, the VCCI will co-ordinate efforts with relevant organisations, including the Federal Investment Council (CFI), as they seek to promote greater ties in potential fields such as energy development, hi-tech agriculture, food processing, biotechnology, and digital transformation.