The Embassy of Vietnam in Argentina hosts a talk with local importers to promote trade between the two countries in Buenos Aires on December 5 (Photo: VNA)

Buenos Aires (VNA) – The Embassy of Vietnam in Argentina hosted a talk with local importers to promote trade between the two countries in Buenos Aires on December 5.

Opening the event, Ambassador Dang Xuan Dung gave the Argentine businesses an overview of Vietnam’s socio-economic development after three decades of “Doi moi” period, highlighting that the country has remained as one of the fastest-growing economies in Southeast Asia for years.

Vietnam’s foreign trade increased four-fold after becoming a member of the World Trade Organisation a decade ago, exceeding 400 billion USD this year, he said.

The country has so far signed 12 free trade agreements and been negotiating four new others, Dung noted, adding that he looks forward to Argentina backing Vietnam to ink a trade deal with MERCOSUR (the Southern Common Market that gathers Argentina, Brazil, Paraguay and Uruguay).

Argentine businesspersons take a look at made-in-Vietnam products on display at the talk (Photo: VNA)

He noted that the bilateral trade between Vietnam and Argentina rose by 20 percent annually from 2012-2016, after the two nations established comprehensive partnership in 2010; and they still have great potential to expand the lists of export items to each other.

Echoing Dung’s view, President of the chamber of importers of Argentina (CIRA) Ruben Oscar Garcia affirmed determination of the Argentine government to open the local market and provide opportunities for domestic firms to expand trade with foreign partners.

The two-way trade reached 2.3 billion USD and 2.9 billion USD in 2015 and 2016, respectively. It is expected to gain 3.5 billion USD this year, he said.

Vietnam is now Argentina’s sixth largest trade partner with key currency earners being footwear, electronics, textile and garment and agricultural machines while the South American country is Vietnam’s second biggest supplier of foods and farm produces.-VNA