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Jul 12, 2022 / 13:58

Vietnam, Argentina: Joint will to upgrade relations

Vietnam has positioned itself as a key trading partner of Argentina, being the Latin American country’s 6th largest trading partner and 5th biggest export market.

Vietnam and Argentina have expressed their joint will to raise the level of the Comprehensive Partnership in the context that the two nations are preparing for the commemorations of 50 years of bilateral relations in 2023.

The will to upgrade the relations would be demonstrated partly through the establishment of a Sectoral Strategic Association in sustainable agriculture, food security, and energy which both countries discussed during the visit to Hanoi by Argentinian Minister of Foreign Affairs and Worship Santiago Andrés Cafiero.

During the three-day meeting which concluded on July 11, Santiago Cafiero reiterated the stance of the Government of Argentina of always attaching importance to strengthening relations with Vietnam in its policy towards Asia-Pacific.

Argentina is aware of the growing importance of Vietnam as an Argentine trading partner, and the concrete possibilities of greater diversification of the reciprocal exchange, and issues of importance for both nations, including agricultural technologies, the knowledge economy, aerospace cooperation, among others, Cafiero said.

 Vietnam's Prime Minister Pham Minh Chinh and Argentina's Minister of Foreign Affairs and Worship Santiago Andrés Cafieroin Hanoi on July 11. Photo: VGP

In short, trade, investment, and technical cooperation were the main focus during Cafiero’s first visit to Vietnam as a foreign minister. During the stay, he held bilateral meetings with Prime Minister Pham Minh Chinh, Foreign Minister Bui Thanh Son, and Minister of Industry and Trade Nguyen Hong Dien.

In the meeting with the Vietnamese Prime Minister, Cafiero emphasized the possibility of signing mutual agreements that allow expanding and diversifying commercial exchange and promoting investments in strategic sectors such as energy and electromobility.

In talks with Dien, the main issues were to diversify and expand the basket of traded products, as well as to speed up the sanitary and phytosanitary negotiations and regulatory frameworks, which will allow progress in the incorporation of new farm produce in bilateral trading.

The bilateral agenda between Vietnam and Argentina has outstanding chapters including the South-South bilateral technical cooperation program. Since 1998, Vietnam has been Argentina’s major recipient country within the South-South cooperation with 15 technical support programs completed and some ongoing.

 Vietnamese Foreign Minister Bui Thanh Son and Argentinian Minister of Foreign Affairs and Worship Santiago Andrés Cafiero in Hanoi on July 11. Photos: Baoquocte

At the meeting between two foreign ministers, two agreements were signed including one on combating transnational organized crime and another on cooperation in the prevention and investigation of the crime of human trafficking and the assistance and protection of its victims.

The top diplomats valued the multifaceted cooperation that includes aerospace, defense, digital agenda, audiovisual media, genders, and diversities as well as reaching common positions in various international forums.

In the last decade, Vietnam has positioned itself as a key trading partner of Argentina. In 2021, the two-way trade exceeded US$4.5 billion, up 14% on the year, with Argentina enjoying a trade surplus of $2-$3 billion per year. Currently, Vietnam is Argentina’s 6th largest trading partner and Argentina’s 5th biggest export market while Argentina is Vietnam’s 3rd biggest trading partner in Latin America. 

 The two foreign ministers with agreements signed.