National Assembly Chairman Vuong Dinh Hue speaks at the Vietnam-Argentina business conference in Santa Fe on April 26. (Source: VNA)

Taking place at the Rosario Stock Exchange, the event was participated by Governor of Santa Fe Omar Angel Perotti, Governor of Cordoba province Juan Schiaretti, and Governor of Entre Rios province Gustavo Bordet; as well as other officials, heads of trading floors and enterprises from the three central Argentine localities, which account for 60% of the country’s total exports to Vietnam.

In his welcoming speech, the president of the stock exchange, Miguel Simioni, stressed that the Vietnamese top legislator’s visit to Argentina is a testament to the countries’ commitment to further tighten their bilateral cooperation, especially in economy and trade.

This is a great chance for the two sides to establish cooperation mechanisms to promote trade relations and for their businesses to exchange information and seek investment opportunities, he said.

On behalf of the public and private sectors of Santa Fe, Governor Perotti highlighted Rosario’s support policies for businesses operating in the locality and domestic firms seeking partnerships with foreign peers.

Addressing the conference, Hue stated that in the past five decades since establishing their diplomatic relations, Vietnam and Argentina have made great efforts to cooperate and achieved many important results across all fields, with economic and trade cooperation considered a bright spot.

He informed participants of Vietnam’s trade growth rate, which reached about 10% in many consecutive years. In 2022, the Southeast Asian nation’s import-export value hit 732.5 billion USD. Vietnam is also a safe and attractive destination for investors across all continents. So far, it has attracted more than 36,600 foreign-funded projects worth up to 442 billion USD, with investment flows continuing to increase despite the current global economic difficulties.

He noted that Vietnam has signed 15 free trade agreements with more than 60 countries and territories, including some of the largest markets in the world, and has increasingly diversified its markets, products and supply chains.

The Vietnamese NA and Government are continuing to perfect institutions and creating the best investment and business environment for investors, both domestic and foreign. Vietnam is also focusing on perfecting laws to serve the digital transformation in the best way, along with perfecting the institution for the energy transition with Vietnam’s very strong commitment at the COP 26 on net-zero emissions by 2050.

In the current world situation of changes, NA Chairman Hue held that the pushing of bilateral cooperation and that in multilateral frameworks are of great need to accelerate the socio-economic recovery and development following the COVID-19 pandemic in each country as well as the whole world.

He also spoke highly of Santa Fe, with its location in the development triangle and being one of the key production localities of Argentina, in connecting businesses of the two countries, helping push up the bilateral relations of economic and trade cooperation.

Pointing out hindrances in the economic and trade cooperation between the two countries, NA Chairman Hue also held that the absence of a free trade agreement between Vietnam and Mercosur is causing many obstacles to Vietnamese and Argentine firms in particular and those of other Mercosur members in general in broadening their cooperation.

In order to further strengthen the economic, trade and investment cooperation between Vietnam and Argentina, between Vietnam and Santa Fe and other provinces of the development triangle in the central region of Argentina, Hue asked the sides to continue facilitate the export of products of strengths to each other’s markets. Vietnam hopes the three province consider and import Vietnam’s quality products so as to raise the bilateral revenue towards the trade balance.

Besides trade cooperation, he asked authorities and firms of the two sides to continue the study on broadening technology and investment cooperation in the fields of their strength and need. Vietnam always welcomes and stands ready to facilitate the business community of the three Argentine provinces to come and explore chances for business and investment in Vietnam.

To further facilitate the efforts to intensify bilateral trade and investment, Vietnam and Argentina should push for the launch of the negotiations on a free trade agreement between Vietnam and Mercosur. Hue highlighted that Vietnam has completed all the assessments and is ready to negotiate the deal with Argentina and other Mercosur members at any time. In the talks and meetings with Argentine leaders, the two sides agreed to push the issue at an early date so as to create an important breakthrough for the relations between the two countries.

NA Chairman Hue stressed that the support of the administrations and the business communities of the three provinces in central Argentina will play a very important role for the two sides to start and reach consensus at an early date to proceed to the signing of the extremely important agreement.

At the event, he witnessed the exchange of cooperation agreement between the Vietnam Chamber of Commerce and Industry and its counterpart of the central region of Argentina.

This marked the end of the official visit to Argentina by NA Chairman Hue and his entourage before starting their official visit to Uruguay.

Vietnam, Argentina boost locality-to-locality cooperation

National Assembly (NA) Chairman Vuong Dinh Hue and leaders of the three Argentine provinces – Santa Fe, Cordoba and Entre Rios – held a press conference following their working session in Santa Fe on April 26 (local time).

Addressing the event, Governor of Santa Fe Omar Ángel Perotti emphasised that the three localities in the central region of Argentina, also the South American nation’s key economic triangle, have important cooperative relationships with Vietnam. In 2022, the provinces organised a business delegation to the Southeast Asian country to explore cooperation opportunities. Currently, Santa Fe, Cordoba and Entre Rios account for 60% of Argentina's total exports to Vietnam.

Hue, for his part, stated that the visit to Argentina by the Vietnamese NA’s high-ranking delegation aims at not only promoting relations between the two legislative bodies, but also strengthening the comprehensive partnership between the countries, particularly in a number of specific sectors such as industry, agriculture and energy. One of the focuses of this visit is to help stepping up bilateral economic and trade exchanges – a bright spot in the Vietnam-Argentina relationship – toward pushing two-way import and export turnover to about 10 billion USD by 2025, doubling the current level.

He noted that Vietnam wishes to join Argentina and other countries in the Southern Common Market (Mercosur) in launching negotiations on a Vietnam-Mercosur free trade agreement, which is expected to serve as a bridge for the relationship between Vietnam and Mercosur member countries and strengthen ties between the bloc and Southeast Asia – a market of 650 million people and more than 3.6 trillion USD in GDP.

The top legislator affirmed the significance of the three-province development triangle in the cooperation between the nations and their localities and lauded their sending of the business delegation to Vietnam last year, and said he welcomes more similar delegations to Vietnam and encourages Vietnamese and Argentine firms to invest in each other’s markets.

Mentioning the sides’ promotion of their people-to-people exchange and joint works in culture, sports and tourism, the NA leader said the possibility of establishing direct flights between Vietnam and Argentina for better exchanges and tourism cooperation was also discussed.

* Within the framework of his official visit to Argentina, NA Chairman Hue on April 26 received Governor of Santa Fe province Omar Angel Perotti, Governor of Cordoba province Juan Schiaretti, and Governor of Entre Rios province Gustavo Bordet.

Hue informed them that high-level leaders and National Assemblies of the two countries agreed on various measures to intensify cooperation and relations between the two sides, both bilaterally and multilaterally; and affirmed that Vietnam always attaches importance to and wishes to further deepen the comprehensive partnership with Argentina. He also stressed that the signing of the cooperation agreement between Vietnam’s Binh Duong province and Santa Fe holds a special significance, and expressed his hope that the two sides will continue to broaden their cooperation in the fields of their strength.

Governor Perotti said besides Binh Duong, his province also hopes to have more Vietnam’s local partners to continue utilise and bring into play potential of each side, especially economic, trade and investment cooperation. The governors expressed their wish to continue having chances to go to Vietnam for economic, trade and investment promotion activities for firms to contact, establish relations and look into each other’s markets.

NA Chairman Hue asked Santa Fe leaders to pay attention to pushing and supporting the Argentine government in its intention of broadening economic integration and cooperation, supporting the launch of negotiations on the free trade agreement between Vietnam and Mercosur.

At the reception, Hue witnessed the signing of the letter of intent on investment and trade cooperation by leaders of Binh Duong and Santa Fe. He also took the occasion to lay a wreath at the National Flag Memorial in Santa Fe.

Source: VNA