NA Chairman attends Vietnam-Argentina Business Forum in Santa Fe: National Assembly Chairman Vuong Dinh Hue speaks at the forum on trade and investment opportunities with Vietnam in Santa Fe on April 26, 2023. (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 National Assembly Chairman’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 Forum, NA Chairman 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.

NA Chairman attends Vietnam-Argentina business forum in Santa Fe: Addressing the Forum, NA Chairman Hue stated that Vietnam and Argentina have made great efforts to cooperate and achieved many important results across all fields. (Photo: VNA)

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 National Assembly 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.

NA Chairman attends Vietnam-Argentina Business Forum in Santa Fe: Delegates attend the Forum on Trade and Investment opportunities with Vietnam. (Photo: VNA)

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, NA Chairman 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. NA Chairman 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 Vuong Dinh Hue witnessed the exchange of cooperation agreement between the Vietnam Chamber of Commerce and Industry and its counterpart of the central region of Argentina. (Photo: VNA)

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 forum, the NA Chairman 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.