Making garment for export at a factory. Apparel is among key exports of Vietnam to Argentina. (Photo: VNA) HCM City (VNA) - Vietnam and Argentina holdpotential to push bilateral trade to 5 billion USD in the next few years, hearda commercial exchange event in Ho Chi Minh City on June 4.
The event was co-organised by the Argentina FederalInvestment Council and the Vietnam Trade Promotion Agency (VIETRADE) under theMinistry of Industry and Trade.
Speaking at the event, Argentinean Ambassador toVietnam Juan Carlos Valle Raleigh said Vietnam is a strategic partner thatArgentine businesses want to boost commercial cooperation.
According to the diplomat, the two countries elevatedbilateral relations to the level of strategic partnership in 2010, creating a premisefor the development of economic ties.
Bilateral trade increased to 3 billion USD in 2017,with Argentina’s exports to Vietnam reaching 2.5 billion USD. In the first fourmonths of 2018, Argentina exported 950 million USD worth of commodities toVietnam and imported 170 million USD worth of Vietnamese goods.
Despite recording a trade deficit, Vietnam’s exportsto Argentina surged 70 percent in 2017 compared to 2016. Vietnam mostly shippedto Argentina high value added products such as apparel, footwear, electronic products,farm produce and processed food. The two markets supplement and cater to eachother’s demand.
Argentina is ready to open its market for high qualityproducts from Vietnam, the ambassador said, adding that Vietnamese farm producehave potential to gain a better foothold in Argentina. The goal of 5 billionUSD in bilateral trade is reachable, he stressed.
Vice Governor of Entre Rios province Bahl AdanHumberto, who is leading a delegation of three Argentinean provinces on a visitto Vietnam, said Argentinean firms consider Vietnam an important market with alot of potential and opportunities for foreign investors.
According to the official, Vietnam has recorded a highand stable economic growth rate, with increasing per capita income pushing updemand for high quality products. Apart from promoting exports to Vietnam,Argentinean businesses also want to find partners for their imports ofVietnamese products.
The vice governor suggested organising businessexchanges and trade promotion activities to help improve balance in bilateraltrade. Argentina welcomes Vietnamese firms to study its market and introducetheir goods, he added.
Argentinean companies also want to cooperate withVietnamese partners in the areas of agricultural production, animal husbandry,tourism and investment, he said.-VNA
VNA
