The Office of the Attaché for Industry and Agriculture of the Embassy of Argentina in Vietnam officially opened on July 1, 2025 (Photo: Truong Dang)

The event is not only symbolic in terms of diplomacy but also opens up many practical opportunities to promote bilateral trade and investment relations in the new period.

The Vietnam-Argentina relationship has undergone more than half a century of development, from the establishment of diplomatic relations in 1973 to the upgrade to Comprehensive Partnership in 2010. On that foundation, the two countries are gradually moving from goodwill to concrete actions with a focus on economy, trade and investment.

The fact that Argentina chose Vietnam as one of six countries worldwide to establish an Attaché Office specializing in industry and agriculture shows the special strategic position that Vietnam holds in the Eastward policy of this South American country.

At the workshop “Argentina - Vietnam Business Opportunities” co-organized by the Vietnam Chamberof Commerce and Industry (VCCI), Mr. Nguyen Quang Vinh, Vice Chairman of VCCI, emphasized that the two countries still have a lot of room to exploit.

"The similarity in sustainable development vision, the ability to complement each other in products and technology, as well as the strong internal growth momentum from both sides are the foundation for Vietnam - Argentina trade relations to develop dramatically in the coming time," said Mr. Vinh.

According to the leader of VCCI, Argentina is a country with great economic potential in South America, with strengths in high-tech agriculture, food processing industry, renewable energy, biotechnology and software engineering. This country is also building a dynamic innovation ecosystem, playing an important role in transforming the economic growth model.

Meanwhile, Vietnam, with its open economy, has signed 17 free trade agreements, achieved a GDP growth rate of 7.49% in 2024 and entered the group of 20 countries with the largest trade scale in the world. With a stable political foundation, abundant human resources, rapidly modernizing infrastructure, and a green and digital development orientation, Vietnam has emerged as a top destination for foreign investors.

VCCI Vice Chairman Nguyen Quang Vinh speaks about the trade potential between Vietnam and Argentina (Photo: Truong Dang)

In addition to long-term strategic orientations, the two sides also emphasized specific actions to realize the potential for cooperation. The VCCI Vice Chairman proposed promoting business connections, implementing more effective trade promotion activities, and prioritizing negotiations on a free trade agreement between Vietnam and the South American common market bloc Mercosur. The early completion of this FTA will create a favorable legal corridor and an attractive investment environment for both sides.

During the visit from June 30 to July 4, the high-level Argentine trade delegation led by Secretary of State for Industry and Trade Esteban Marzorati and Deputy Secretary of State for Agricultural Markets and International Integration Agustín Tejeda Rodriguez had many working activities in Hanoi and Ho Chi Minh City.

The delegation met with leaders of ministries and sectors, organized seminars, and connected B2B businesses of the two countries in key areas such as food, beverages, agricultural technology, and supply chains.

In the context of global economic fluctuations, expanding cooperation with strategic partners such as Argentina not only helps Vietnam diversify its markets but also enhances its adaptability, developing in a greener and more innovative direction in the long term.

In 2024, bilateral trade turnover between Vietnam and Argentina will reach 4.1 billion USD, an impressive growth of 67.1% over the previous year.

Argentina mainly exports agricultural products and input materials for the processing industry, while Vietnam is increasingly asserting its position in industrial and high-tech products.

In 2025, exports from Argentina to Vietnam increased by 40.4% in the period from January to May, while Vietnamese goods to Argentina increased by 243.6% compared to the same period last year. Some Vietnamese products recorded remarkable growth such as phones and components (up 636%) and footwear (up 146%).

Argentine Ambassador to Vietnam, Mr. Marcos A. Bednarski, affirmed that Vietnam is currently Argentina's third largest trading partner in Asia (after China and India) and seventh globally.