Business

Vietnam -Latin America chase trade

Businesses in southern provinces are urged to attend a ministerial level forum on trade and investment between Vietnam and Latin America to be held in Hanoi early next month.
Businesses in southern provinces are urged to attend a ministerial levelforum on trade and investment between Vietnam and Latin America to beheld in Hanoi early next month.

Addressing a pressconference held on June 11on the first such forum to be held in thecountry, Nguyen Hoanh Nam , Deputy Director of the Americas Departmentunder the Ministry of Foreign Affairs, said it was an important foreignaffairs initiative aimed at boosting bilateral and multilateral tradeand investment co-operation between Vietnam and Latin America .

The forum will be a good opportunity for businesses on both sides toexchange information, seek invest-ment opportunities and signco-operation agreements, he said.

Delegates from 27 LatinAmerican countries including ministers and deputy ministers in charge ofinternational trade and investment, represent-atives from LatinAmerican embassies in Vietnam and representatives of businesses from thecontinent operating in Vietnam or interested in doing business here areexpected to participate in the forum.

The prospects for trade and investment ties between Vietnam and Latin American countries are huge, Nam said.

With a GDP of more than 5.5 trillion USD and a population of 580million, Latin America represents great investment opportunities forVietnamese companies.

Vietnam 's main exports to LatinAmerican countries are rice, textiles, seafood, rubber and coffee. Itimports animal feed, raw materials for textiles and garments, steel,chemicals and medicine.

To date, Vietnamese firms havepledged to invest 7 billion USD in the region while Latin Americancountries plan to invest 3 billion USD in Vietnam .

Theforum will look into the background of Vietnam – Latin Americarelations; potentials and opportunities; advantages and obstacles totrade, economic and investment relations between the two sides; andco-operation orientations.-VNA
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