"In a global context of great uncertainty and marked by tensions, especially in the trade field, Argentina and Vietnam choose to open up and become integrated because we know that true sustainable development can only come from more trade and more investments," Foreign Minister Jorge Faurie stated in Hanoi after being received by Vietnamese Prime Minister, Nguyễn Xuân Phúc.
Faurie, joined by the Argentine Ambassador to Vietnam, Juan Carlos Valle Raleigh, held a meeting with his Vietnamese counterpart, Phạm Bình Minh, during which he highlighted the importance of trade exchanges, which in 2017 amounted to USD 2.9 billion. They both ratified the political decision by both governments to move forward with the bilateral economic agenda in order to improve the balance of trade and also agreed to intensify technical cooperation, business exchanges and the removal of trade barriers. As regards mutual exchanges in 2017, it is worth noting that Argentina's surplus amounted to USD 1.65 billion.
Both Foreign Ministers noted that this year's commemoration of the 45th anniversary of the establishment of diplomatic relations is a great opportunity to achieve concrete results, to multiply trade and investment flows and to cooperate in strategic areas, such as innovation and research, food, logistics, energy development and infrastructure. Vietnam is the fifth destination market for Argentine exports and accounts for Argentina's second highest trade surplus.
In their meetings with the Minister of Industry and Trade, Tran Tuan Anh, the Head of the Central Committee's Commission for External Relations of the Communist Party of Vietnam , Hoang Binh Quan, and authorities from Agriculture, Rural Development and the National Assembly, both parties noted the sustained growth of bilateral trade over the last four years; "although it is still highly concentrated," Faurie pointed out. "Argentina manufactures medicines, satellite technology and software, among others. That is why we seek to diversify and expand export sectors and products so as to add value" he noted.
Faurie also opened the Argentina-Vietnam Business Forum, which was attended by businesspeople from both countries. They underscored the increasing mutual interest in bilateral visits and missions, such as the Vietnamese delegation which will arrive in Argentina in September, the upcoming Vietnam-Latin-America Trade Forum to be held in Buenos Aires in November and the recent joint trip to Hanoi by three Argentine delegations headed by the Governors of Córdoba, Entre Ríos and Santa Fe.
After laying a floral wreath at the Ho Chi Minh Mausoleum, the Argentine Foreign Minister -given the major importance of technical cooperation in Vietnam- opened in Hanoi a Regional Workshop on Technical Cooperation in Agro-Industry, which was attended by experts from member countries of the Association of South East Asian Nations (ASEAN).
"We have bilaterally reached the level of strategic partnership, based on three pillars: political dialogue, promotion of trade and investments and technical cooperation," the Foreign Minister explained and, with regard to the last pillar, he highlighted the success of the technical cooperation program with Vietnam, which, in the last 20 years, has developed 15 projects funded by the Argentine Fund for South-South and Triangular Cooperation, an important component of Argentine foreign policy."
Most projects are undertaken on the basis of Argentina's experience in the agro-industrial field (for instance in post-harvest technologies, no-till farming or animal health, among others), with considerable flexibility to adapt to different socio-economic contexts.
On the second leg of his trip, in Singapore, the Foreign Minister will sign Argentina's accession to ASEAN's Treaty of Amity and Cooperation, ushering in a new stage in relations with member countries of ASEAN, a bloc of 10 countries which account for 3,4% of global GDP and 7% of global trade.
