Buenos Aires (VNA) - Vietnam and Argentina are facing new opportunities to expand trade cooperation, particularly through negotiations for a Preferential Trade Agreement (PTA) between the Southeast Asian nation and the Southern Common Market (Mercosur), as well as Argentina's application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

During the 30th Export Day, organised on September 15 in Buenos Aires by the Chamber of Exporters of the Argentine Republic (CERA) under the theme "New Export Frontier: The Transformation Underway," Vietnamese Ambassador to Argentina Ngo Minh Nguyet highlighted that Vietnam considers Argentina and Mercosur important partners in South America and sees broad potential to deepen trade and investment ties.

According to the diplomat, bilateral trade reached 4.27 billion USD in 2025, a 4.1% year-on-year increase. Vietnam's exports to Argentina mainly consist of electrical and electronic equipment, footwear, machinery, textiles, and optical equipment, while it imports cereals, corn, animal feed, soybean meal, cotton, leather, meat, and dairy products.

She noted that both countries can also expand cooperation in sectors such as strategic minerals, biotechnology, renewable energy, and pharmaceuticals by capitalising on the complementarity of their economies.

Negotiations for the Vietnam-Mercosur PTA began in December 2025, with the first round taking place in Buenos Aires this past August 24-28.

The head of the Vietnamese diplomatic mission emphasised that Mercosur represents a market of over 270 million people, while trade between Vietnam and the bloc grew from approximately 6.6 billion USD in 2015 to more than 12 billion USD last year.

The agreement would contribute to reducing tariff and non-tariff barriers while expanding market access, she affirmed.

Regarding the CPTPP, the Ambassador welcomed the formal application submitted by Argentina this past June 2.

As a founding member and the chair of the CPTPP in 2026, Vietnam will coordinate with the other members during the corresponding process, she stated.

According to Nguyet, the combination of a Vietnam-Mercosur PTA and Argentina's eventual accession to the CPTPP would open up new opportunities for businesses in both countries, with Vietnam acting as Argentina's gateway to ASEAN and Argentina serving as Vietnam's platform into South America.

Meanwhile, Argentine Minister of Foreign Affairs Pablo Quirno reported that Argentine exports reached nearly 58 billion USD in the first half of 2026, up 23% year-on-year, while Economy Minister Luis Caputo underscored the importance of macroeconomic and fiscal stability.

Argentine Minister of Deregulation and State Transformation Federico Sturzenegger highlighted the elimination of some 17,000 regulations and measures aimed at reducing logistics costs.

CERA President Fernando Landa noted that Argentine exports could reach a record 103.2 billion USD this year, driven by the energy, mining, agriculture, and industrial sectors./.