Speaking to the Vietnam News Agency (VNA)'s reporter in South America on the occasion of the visit to Paraguay by Vietnamese Ambassador to Argentina and Paraguay Ngo Minh Nguyet, Carmen Pérez said the bilateral relations have developed steadily over the past three decades, becoming more substantive through high-level exchanges and closer coordination between relevant agencies.
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Vietnam’s main exports to Paraguay include footwear, aquatic products, electronics and machinery. |
Despite differences in geography and economic structure, the two countries possess complementary strengths, creating favorable conditions for expanding cooperation at a time when global challenges underscore the need for stronger international linkages, she said.
Economic and trade ties, in particular, are showing encouraging momentum. In recent years, two-way trade has maintained an upward trend, reaching an estimated 250 - 300 million USD annually. Vietnam’s main exports include aquatic products, footwear, electronics and machinery, while Paraguay supplies Vietnam with beef, soybeans, corn, cotton and leather.
Carmen Pérez described this as only an initial phase, emphasizing that significant room remains for businesses from both countries to expand their presence in each other’s markets. She highlighted Vietnam’s growing interest in South America’s high-quality agricultural product supply chains as a key driver for deeper engagement.
New trade and investment initiatives are also taking shape, with Vietnamese enterprises exploring opportunities to expand operations in Paraguay and across the Southern Common Market (Mercosur) bloc, and Paraguayan companies stepping up exports to the Vietnamese market. These developments, the Honorary Consul said, point to the potential for more robust and diversified economic cooperation.
Commenting on Vietnamese State President Luong Cuong’s proposal for Paraguay to support the launch of negotiations on a free trade agreement (FTA) between Vietnam and Mercosur, raised during his meeting with Paraguayan President Santiago Peña on the sidelines of the 80th UN General Assembly, Carmen Pérez called the initiative timely and mutually beneficial.
As Mercosur seeks to strengthen its presence in Asia, Vietnam, an increasingly dynamic economy and a key gateway to ASEAN, stands out as an ideal partner. Paraguay, in particular, has a strong interest in expanding ties with Asia and is expected to actively support FTA talks, which can help reduce trade barriers, facilitate investment, and open new areas of cooperation such as infrastructure, digital technology and telecommunications.
The Honorary Consul expressed her confidence that President Peña will continue to advance the initiative in the coming period, affirming that she and the Honorary Consulate will make every effort to support strategic connectivity activities between the two countries, paving the way for a deeper and more effective phase of cooperation.
Source: VNA