Vietnam-Argentina trade reaches USD 2.42 billion in 10 months

Two-way trade between Vietnam and Argentina reached USD 2.42 billion in the period from January to early November this year, it was reported at the fifth meeting of the Vietnam-Argentina Inter-Governmental Committee in Hanoi on December 2.

Deputy Minister of Industry and Trade Do Thang Hai and Argentine Ministry of Foreign Affairs and Worship’s Secretary for International Economic Relations, Ambassador Maria Cristina Boldorini co-chaired the event.

Deputy Minister of Industry and Trade Do Thang Hai (L) and Ambassador Maria Cristina Boldorini at the meeting. (Source: moit.gov.vn)

According to the Ministry of Industry and Trade’s report, the two-way trade value showed a 13.1 percent rise from last year. Vietnam earned USD 302.3 million from exports to Argentina as of early November and spent USD 2.12 billion on imports from the Latin American country, up 15.8 percent.

The figure is estimated at nearly USD 3 billion this year.

Argentina is currently investing in four projects worth USD 3.2 million in Vietnam, ranking 80th out of 112 countries and territories investing in the country.

Deputy Minister Hai said a number of commitments have been delivered in the fields of trade, investment, agriculture, culture, healthcare, legal medicine and science-technology since the fourth meeting in 2014.

The two sides signed a food safety control agreement in June 2014, under which 206 Vietnamese seafood processors were allowed to export to Argentina while 36 Argentine meat producers and 221 seafood processors gained access to the Vietnamese market.

Hai also spoke highly of joint efforts to implement technical cooperation projects within the framework of the South-South and Triangular Cooperation Fund of Argentina.

At the meeting, the two countries agreed on 11 quarantine certificate samples for Argentine animal products, including frozen beef and lamb, milk and dairy products.

Vietnam is working to export dragon fruit, longan, litchi and mango to the Argentine market while Argentina has also applied for exporting orange, lemon, blueberry, apple, grapefruit, tangerine, pear and sweet cherry to Vietnam.