Looking ahead to robust ties between Mexico and Vietnam

Mexico and Vietnam celebrated in 2020 the 45th anniversary of the establishment of diplomatic relations. During this time, ties have continued to broaden and strengthen: both countries have enhanced their political dialogue, expanded their economic and trade links, promoted technical and cultural exchanges. As topics in the bilateral agenda have diversified, so have the coincidences on a wide array of topics in the global agenda.

Mrs. Sara Valdes Bolaño, Ambassador of Mexico to Vietnam, attended the 2020 International Food Festival held in Hanoi. Photo: Embassy of Mexico in Hanoi

Political dialogue between our relevant authorities is outstanding. A mechanism providing institutional framework, overall direction and purpose to the relationship was established in 2002 and meets regularly in Hanoi and in Mexico City. This dialogue extends to multilateral fora, such as the United Nations Security Council where both countries participate as non-permanent members in 2021, sharing their commitment to the rules-based multilateral system, as well as common interests and values, i.a.: the promotion of peace and security and the implementation of the 2030 Agenda for sustainable development.

In 1993 bilateral trade was US$10,700 whereas in 2019 it reached US$6.275 billion, according to the Mexican government’s data. The Comprehensive and Progressive Transpacific Partnership Agreement (CPTPP) in force since 2019 is the cornerstone of our economic ties. A joint committee to promote new trade, business and economic cooperation opportunities was established in 2016.

Cultural and educational exchanges have gradually increased over the years; Mexican artistic troupes have participated regularly at the Hue Festival; Mexican and Vietnamese artists and creators have had a chance to visit each other’s countries and present their work to audiences in both nations; literary works by Mexican authors have been translated from Spanish to Vietnamese language; and local students and graduates have benefitted from scholarships provided by Mexican institutions. People to people contacts play a very important role in our relations.

Celebrating the 45th anniversary allows us to reflect upon the past, as it is a great opportunity to look ahead to the future of ties between our nations. I believe there is still a great potential to build closer and deeper links. Sustained political dialogue underlies progress in all areas of our relations -more so during these trying times, setting the foundations for the next stage in the partnership. Continuous engagement between actors in both countries can lead to a valuable exchange of views, both at the bilateral and the multilateral levels, in those topics of mutual interest, including ways to overcome the challenges created by the Covid-19 pandemic and to promote a much-needed economic recovery.

Mexico and Vietnam must continue their efforts to fully implement the CPTPP and to make businesspeople in both nations more familiar with this agreement in order to encourage new business opportunities and contribute to economic recovery. Thanks to this agreement, companies in Mexico and Vietnam can tap into preferential access to each other sizable markets. Furthermore, based on their strong manufacturing sectors and extensive networks of trade and investment agreements, they could integrate their value chains to introduce their products to other regions, including the US and European markets. I invite Vietnamese firms to consider investing in Mexico or establishing joint-ventures with Mexican partners in order to explore this possibility.

Further people-to-people contacts through cultural and educational exchanges will deepen mutual understanding. I am confident that both parties could use the existing legal framework, and conclude those instruments currently under negotiation, to enhance bilateral cooperation in various fields, opening new opportunities for joint research and innovation projects.

Notwithstanding the bilateral relation is conducted at the central government level, there is scope for local governments in both countries to establish and maintain fruitful contacts with each other. This could result in focused cooperation actions on topics of mutual interest, taking advantage of best practices and expertise developed at the local level. Various authorities in Mexico are eager to explore possible partnerships with the City of Hanoi. The Embassy of Mexico looks forward to working the city’s leaders to enhance friendship and cooperation, enacting their great potential for the benefit of both our peoples.

On the occasion of the Lunar New Year (Tết), I wish Hanoians Chuc mung nam moi!