At the signing ceremony in Hanoi on August 14, Vietrade Director Vu Ba Phu said the MoU will serve as a cornerstone for the two sides to further cooperate in trade promotion and bring businesses of Vietnam and Uruguay closer, thereby raising bilateral trade revenue in the coming time.

He expressed his hope that the sides will increase the exchange of business delegations to enhance mutual understanding and deepen relations between Vietnamese and Uruguayan firms.

At the signing ceremony

According to statistics, two-way trade stood at USD 140 million in 2018, a year-on-year rise of 19 percent. Of the figure, Vietnam exported USD 82 million worth of goods to the South American nation, up 17.3 percent from the previous year.

Vietnam’s key export staples included footwear, garments, computers, electronic products and spare parts, aquatic products, mobile phones and spare parts, and rattan, bamboo and sedge products, among others.

Meanwhile, the country mostly imported timber and wooden products, leather and footwear materials, pharmaceutical products, milk and dairy products, cattle feed and chemicals from Uruguay.

Source: VNA