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Vietnam-Argentina trade up 4.3 percent last year

April 09, 2021 | 08:13

Two-way trade between Vietnam and Argentina has remained stable over recent years, reaching US$3.95 billion in 2020, up 4.3 percent from the previous year.

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Vietnam, Argentina forge stronger collaboration Vietnam, Argentina forge stronger collaboration
Vietnam-Argentina trade up 4.3 percent last year
Apparel is among key exports of Vietnam to Argentina. Photo: VNA

Figures show that Vietnam’s exports to the Latin American country hit US$567 million last year, up 2.34 percent, while imports rose 4.64 percent to US$3.38 billion.

Vietnam’s exports were mostly mobile phones and spare parts, computers, electronics and accessories, footwear, machinery, equipment and other supporting tools, apparel, and footwear materials. The country imported animal feed, corn, cotton, soya, and vegetable oils from Argentina.

As of late February, the trade revenue stood at US$440 million, representing a year-on-year decrease of 3.22 percent.

Of this, US$174 million was Vietnam’s exports to Argentina, up 164.52 percent as compared with the corresponding time last year, while imports were down 31.61 percent.

During a recent working session with Argentine Ambassador to Vietnam Luis Pablo Maria Beltramino, Vietnamese Deputy Minister of Industry and Trade Do Thang Hai affirmed that his ministry is ready to work with the diplomat, who just started his tenure in Vietnam, to boost economic, trade, and investment ties between the two nations.

Vietnam-Argentina trade up 4.3 percent last year
At the working session between Vietnamese Deputy Minister of Industry and Trade Do Thang Hai and Argentine Ambassador to Vietnam Luis Pablo Maria Beltramino. Photo: Ministry of Industry and Trade

As Argentina is now Vietnam’s third-largest trade partner in Latin America, behind Brazil and Mexico, Hai hoped that the ambassador and the Argentine embassy will continue working to facilitate trade exchange between the two countries’ business communities, towards gradually achieving a more balanced trade landscape, the Vietnam News Agency (VNA) reported.

The ambassador, for his part, expressed a belief that with improving business climates in both nations, businesses will be well-positioned to prosper.

He pledged to do his best to tackle problems in two-way trade as well as facilitate multi-sector exchanges between the two countries.

Both sides also agreed to hold the seventh meeting of the Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation this year./.

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