National Assembly Chairman Vuong Dinh Hue speaks at the forum on trade and investment opportunities with Vietnam in Santa Fe on April 26. (Source: VNA) Taking place at the Rosario Stock Exchange, theevent was participated by Governor of Santa Fe Omar Angel Perotti, Governor ofCordoba province Juan Schiaretti, and Governor of Entre Rios province GustavoBordet; as well as other officials, heads of trading floors and enterprisesfrom the three central Argentine localities, which account for 60% of thecountry’s total exports to Vietnam.
In his welcoming speech, the president of the stock exchange, Miguel Simioni, stressedthat the Vietnamese top legislator’s visit to Argentina is a testament to thecountries’ commitment to further tighten their bilateral cooperation,especially in economy and trade.
This is a great chance for the two sides toestablish cooperation mechanisms to promote trade relations and for their businessesto exchange information and seek investment opportunities, he said.
On behalf of the public and private sectors of Santa Fe, Governor Perotti highlighted Rosario’s supportpolicies for businesses operating in the locality and domestic firms seekingpartnerships with foreign peers.
Addressing the conference, Hue stated that inthe past five decades since establishing their diplomatic relations, Vietnamand Argentina have made great efforts to cooperate and achieved many importantresults across all fields, with economic and trade cooperation considered abright spot.
He informed participants of Vietnam’s trade growth rate, whichreached about 10% in many consecutive years. In 2022, the Southeast Asiannation’s import-export value hit 732.5 billion USD. Vietnam is also a safe andattractive destination for investors across all continents. So far, it has attractedmore than 36,600 foreign-funded projects worth up to 442 billion USD, withinvestment flows continuing to increase despite the current global economicdifficulties.
He noted that Vietnam has signed 15 free trade agreementswith more than 60 countries and territories, including some of the largestmarkets in the world, and has increasingly diversified its markets, products and supply chains.
The Vietnamese NA and Government are continuing to perfectinstitutions and creating the best investment and business environment forinvestors, both domestic and foreign. Vietnam is also focusing on perfectinglaws to serve the digital transformation in the best way, along with perfectingthe institution for the energy transition with Vietnam’s very strong commitmentat the COP 26 on net-zero emissions by 2050.
In the current world situation of changes, NA Chairman Hueheld that the pushing of bilateral cooperation and that in multilateralframeworks are of great need to accelerate the socio-economic recovery and developmentfollowing the COVID-19 pandemic in each country as well as the whole world.
He also spoke highly of Santa Fe, with its location in thedevelopment triangle and being one of the key production localities ofArgentina, in connecting businesses of the two countries, helping push up the bilateralrelations of economic and trade cooperation.
Pointing out hindrances in the economic and trade cooperationbetween the two countries, NA Chairman Hue also held that the absence of a freetrade agreement between Vietnam and Mercosur is causing many obstacles to Vietnameseand Argentine firms in particular and those of other Mercosur members ingeneral in broadening their cooperation.
In order to further strengthen the economic, trade andinvestment cooperation between Vietnam and Argentina, between Vietnam and SantaFe and other provinces of the development triangle in the central region ofArgentina, Hue asked the sides to continue facilitate the export of products ofstrengths to each other’s markets. Vietnam hopes the three province considerand import Vietnam’s quality products so as to raise the bilateral revenuetowards the trade balance.
Besides trade cooperation, he asked authorities and firms ofthe two sides to continue the study on broadening technology and investmentcooperation in the fields of their strength and need. Vietnam always welcomesand stands ready to facilitate the business community of the three Argentineprovinces to come and explore chances for business and investment in Vietnam.
To further facilitate the efforts to intensify bilateraltrade and investment, Vietnam and Argentina should push for the launch of thenegotiations on a free trade agreement between Vietnam and Mercosur. Huehighlighted that Vietnam has completed all the assessments and is ready to negotiatethe deal with Argentina and other Mercosur members at any time. In the talksand meetings with Argentine leaders, the two sides agreed to push the issue atan early date so as to create an important breakthrough for the relationsbetween the two countries.
NA Chairman Hue stressed that the support of the administrationsand the business communities of the three provinces in central Argentina willplay a very important role for the two sides to start and reach consensus at anearly date to proceed to the signing of the extremely important agreement.
At the event, he witnessed the exchange of cooperationagreement between the Vietnam Chamber of Commerce and Industry and itscounterpart of the central region of Argentina.
This marked the end of the official visit to Argentina by NAChairman Hue and his entourage before starting thei♕r official visit toUruguay./.
