Mexico City (VNA) – Economic and trade collaboration remains a central pillar of Vietnam–Mexico relations, with significant untapped potential stemming from underexploited complementarities and capabilities between the two nations, Vietnamese Ambassador to Mexico Nguyen Van Hai has said.
Speaking to the Vietnam News Agency (VNA)'s reporter on the occasion of the 50th anniversary of diplomatic ties between Vietnam and Mexico (May 19, 1975–2025), Hai highlighted the comprehensive and increasingly substantive development of the bilateral relations across various fields. This progress, he stressed, not only reflects the enduring friendship between the two countries' people but also signals broad prospects for stronger cooperation in the future.
Political and diplomatic relations have been steadily strengthened through established bilateral cooperation frameworks, regular high-level exchanges, and close coordination in multilateral platforms, including the United Nations, the Asia - Pacific Economic Cooperation (APEC), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Building on this foundation, economic and trade ties have grown significantly in recent years. Citing Mexican statistics, the Ambassador noted that two-way trade reached 15 billion USD in 2024, a 27.5% increase over 2023, turning Mexico into Vietnam’s second-largest trading partner in Latin America and its largest export destination in the region. Conversely, Vietnam ranks as Mexico’s second-largest trading partner in ASEAN.
People-to-people connections through cultural and educational exchanges have also gained momentum, emerging as a vital bridge to foster mutual understanding and deepen the bilateral relationship.
Looking forward, Hai revealed that the two sides are actively pursuing an upgrade in their relationship, beginning with a Comprehensive Partnership and aiming toward a Strategic Partnership. Efforts are also underway to negotiate key agreements that will lay a robust legal foundation for long-term and stable bilateral cooperation. On the multilateral front, the strong tradition of mutual support and collaboration is expected to grow further, especially as both nations continue to bolster their international roles.
With Vietnam serving as a strategic gateway between ASEAN and Latin America, and Mexico functioning as both a key market and a bridge to the wider Americas, both countries stand to benefit from stronger interregional connectivity. Vietnam, with its geographical and economic positioning, can support Mexico in expanding ties with ASEAN and the broader Asia–Pacific, while Mexico offers Vietnam access to new opportunities across Latin America.
In the areas of culture and education, Hai proposed expanding student exchanges, launching joint research initiatives in technology, innovation, and sustainable development, and enhancing cooperation in training high-quality human resources that meet both nations’ long-term development needs.
To sustain and strengthen the momentum for the bilateral relations, the Ambassador stressed the need for comprehensive efforts across all areas. On the political and diplomatic front, this includes upgrading the relationship and completing legal frameworks to foster a durable, mutually beneficial partnership.
Economically, both countries should fully capitalise on opportunities presented by the CPTPP, increase information sharing and support business engagement in each other’s markets, and make better use of platforms such as the Joint Committee for Economic, Trade, and Investment Cooperation to resolve issues and expand cooperation into new areas. Improvements in logistics and transport infrastructure will also be critical to reducing costs and enhancing trade efficiency.
In terms of cultural and people-to-people exchanges, Hai stressed the importance of hosting joint cultural events, increasing academic exchange programmes, and exploring the launch of direct flight routes to support tourism and people-to-people exchange./.
