Deputy Foreign Minister Do Hung Viet and Mexican Undersecretary of Foreign Affairs Carmen Moreno Toscano exchange an MoU between the Diplomatic Academy of Vietnam and Mexico’s Matias Romero Institute

According to Vietnamese Ambassador to Mexico Nguyen Van Hai, the bilateral relationship has significantly expanded in politics, economics, investment, cultural diplomacy and education. In particular, since the CPTPP took effect, Vietnam-Mexico economic and trade cooperation has markedly grown.

In 2024, the two-way trade value reached US$6.41 billion, up 21.6% year on year, with a trade surplus on the Vietnamese side of US$4.5 billion. However, according to Mexico, this figure exceeded US$15 billion, reflecting differences in statistical methods, though both sides acknowledged a strong growth trend. Currently, Mexico is Vietnam's second largest trading partner in Latin America, while Vietnam is Mexico's second largest trading partner in ASEAN.

To further promote economic cooperation, the two sides established the Joint Committee on Economic, Trade and Investment Cooperation. To date, the Committee has held three meetings on many specific initiatives.

Corporations from both countries have established a growing presence in each other's markets. Mexico's Kidzania entertainment center was opened at Lotte Mall Tay Ho. Mexico's largest retailer Coppel has repeatedly visited Vietnam to find partners to import footwear, clothing, plastic and rubber products. Vietnam's FPT Corporation opened a branch in Guadalajara while VinFast actively promoted its entry into the electric vehicle (EV) market in Mexico and Central America. In October 2024, VinFast signed a memorandum of understanding with the Durango Drivers Association to supply 3,000 VF5 electric vehicles and 300 electric buses, an important step towards developing a green transportation ecosystem in this region.

Mexican businesses see growing opportunities in the Vietnamese market. Some Mexican businesses started to visit Vietnam to seek investment opportunities. To support them, the Mexican Embassy in Vietnam has coordinated in compiling the guidebook “Guide to Doing Business in Vietnam for Mexican Companies", which reveals areas where Mexico has opportunities to enter the Vietnamese market such as pharmaceutical, food and metalworking. The Vietnamese government is also applying many preferential policies towards the Latin American region where Mexico is a central focus.

The year 2025 will also offer an opportunity for the two countries to deepen their relationship through cultural exchanges and people-to-people diplomacy. The Mexican Embassy in Vietnam announced a year-long action program in coordination with the Mexican Ministry of Foreign Affairs and many leading organizations such as INAH, UNAM, FCE and IMER.

The program featured major exhibitions in Hanoi and Da Nang, showcasing ancient Mexican cultural heritages, contemporary arts and UNESCO-recognized world heritage sites. These activities helped the Vietnamese public gain a deeper understanding of Mexico's unique history and culture. At the same time, the reinauguration of the “Totem City Stories” sculpture in Da Nang showed the long-term commitment to cultural cooperation between the two countries.

Educational, media and academic activities were also organized as part of the program celebrating the 50th anniversary of Vietnam-Mexico relations. The Vietnamese translation of The Wild Book by Juan Villoro will be launched at Hanoi University, while two Mexican music programs will be broadcast in Vietnamese on VOV and Hanoi Television channels on May 19. In the culinary field, chef Tomas Alaníz will introduce the quintessence of Mexican cuisine at Metropole Hotel from May 16 to June 16, while a special event on Tequila will take place in November. Besides, the Mexican Embassy will coordinate with the Vietnam Academy of Social Sciences and the Matías Romero Institute to organize a series of bilateral seminars and compile a collection of essays “Vietnam - Mexico: Toward the Future”, scheduled to be released in November 2025.

Mexican Ambassador Alejandro Negrín affirmed: “Over the past 50 years, Mexico and Vietnam have built a strong political and economic relationship and are now working to deepen that relationship in all aspects. This program of activities not only brings the Vietnamese public closer to Mexico, but also reflects the great potential for bilateral cooperation. This is truly a special occasion to celebrate similarities and strong ties between Mexico and Vietnam.”