Illustrative image (Source: mercurynews)

Hanoi (VNA) – Mexico’s Secretariat of Agriculture, Livestock, Rural Development, Fisheries and Food (Sagarpa) and the Mexican Embassy in Vietnam co-hosted a seminar in Hanoi on April 27, discussing business and investment cooperation opportunities in the food sector between Vietnam and Mexico.

Addressing the event, Mexican Ambassador to Vietnam Sara Valdes Bolano said that both Mexico and Vietnam are well-known for agricultural products. Mexico can supply Vietnam with high quality products at reasonable prices, she said.

Mexico is now the world’s 15th biggest food exporter and the biggest avocado producer, she noted, adding that Mexico is also famous for strawberry, banana and beef. The country’s food production growth reached 13 percent in 2017, the ambassador noted.

The Sagarpa and the Ministry of Agriculture and Rural Development of Vietnam have worked together to finalise a memorandum of understanding on plant protection and food products, and another on researching and importing fresh products, she said.

The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to promote the trading of agricultural products between the two countries, said the ambassador.

A Sagarpa representative said that Mexico has exported food products to 160 countries in the world with more than 290 agricultural products, such as avocado, potato, lemon, strawberry, mango and watermelon.

At the event, Mexican businesses introduced their strong products. Meanwhile, many Vietnamese firms held that the event is a good chance for them to explore the Mexican market and seek partnership with their Mexican peers.

According to the Ministry of Industry and Trade, Mexico is the third biggest trade partner of Vietnam in the Latin America region, with two-way trade growing rapidly. Vietnam has enjoyed trade surplus in the market for years.

In the first nine months of 2017, trade between Vietnam and Mexico reached 2.2 billion USD, including 1.8 billion USD worth of Vietnamese exports and 405.3 million USD worth of imports.

The two countries shared favourable conditions for boosting economic cooperation as they both are members of the Asia-Pacific Economic Cooperation Forum and CPTPP.

Vietnam is keen on fostering cooperation with Mexico in rice and aquaculture, along with science, technology, pharmaceuticals, education-training, and climate change response.-VNA