Vietnam & Argentina target trade of $10bln by 2025

Leaders from Vietnam and Argentina have agreed to take advantage of products that complement each other to bring bilateral trade to $10 billion by 2025.

At a meeting between the visiting National Assembly (NA) Chairman Vuong Dinh Hue and Argentinean President Alberto Angel Fernandez in Buenos Aires on April 24, the two expressed their pleasure at the rising two-way trade turnover, which reached more than $4.8 billion in 2022.

Argentina is currently Vietnam’s third-largest trading partner in Latin America while Vietnam is Argentina’s fifth-largest export market in Asia.

They agreed to expand cooperation in new fields such as high-tech industry, digital transformation, innovation, climate change response, and sustainable growth, and to strengthen cooperation between localities, thus pushing the comprehensive implementation of Vietnam-Argentina cooperation towards the establishment of a Strategic Partnership in agriculture, industry, and energy.

NA Chairman Hue suggested that Argentina create favorable conditions for key Vietnamese agricultural products to enter Argentina, thereby balancing bilateral trade in a long and sustainable manner.

President Fernandez said the two countries still hold major potential for cooperation, especially in agriculture, science and technology, energy, and climate change response.

He emphasized the need for the two governments to continue paying attention to creating favorable conditions for key agricultural products to access each other’s market, step up trade promotion activities, and connect businesses.