There's a lot of room for closer ties in the agriculture and seafood sectors between Vietnam and Mexico, especially thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a meeting heard in Hanoi on October 22.

Representatives from VCCI and COMCE sake hands after signing the agreement
(Photo: vccinews.vn) 

Vietnam Chamber of Commerce and Industry (VCCI) Vice Chairman Dao Duy Khuong said Vietnam considers Mexico an important partner. Besides agriculture, the two sides could foster ties in tourism.

Saying Mexico was an open market, Khuong added that the country could act as a bridge for Vietnamese businesses to penetrate deeper into markets in North America thanks to the US-Mexico-Canada Agreement.

Meanwhile, Vietnam was an effective gate for Mexican companies to work with enterprises in the ASEAN bloc, Khuong said.

The vice chairman suggested the establishment of a group which will be in charge of researching potential goods of the two countries so businesses can ship these products to each other's market to enhance bilateral trade.

For his part, Sergio Ley Lopez from the Mexican Business Council for Foreign Trade (COMCE) praised Vietnam’s achievement in economic and human development, saying Vietnam was a lucrative market for Mexican firms.

Currently, Mexico imports a lot of farm produce from Vietnam, typically rice and coffee, he said, adding that 70 percent of the rice sold in Mexico was imported from Vietnam.

In the future, it was necessary for the two business communities to seek opportunities for new products that could be exported to each other, he said.

Mexico hoped to export beef products to Vietnam in the near future, he said, emphasising the importance of developing a process for food quarantine.

The meeting also saw a cooperation agreement on trade and investment inked between VCCI and COMCE. The two sides hoped the agreement would facilitate bilateral trade and investment coordination between two business communities.

Mexico is Vietnam’s second biggest trade partner in Latin America while Vietnam is Mexico’s eighth largest partner in Asia-Pacific.