A conference jointly held by the Vietnamese Embassy in Argentina and the Argentine Chamber of Commerce for Asia. — VNA/VNS Photo

Trade and investment opportunities in Viet Nam were highlighted at a workshop co-organised by the Vietnamese Embassy in Argentina and the Argentine Chamber of Commerce for Asia on Thursday.

During the event, Vietnamese Ambassador Dang Xuan Dung said after more than 30 years of reform, Viet Nam had made remarkable development achievements, with national gross domestic product (GDP) in 2018 growing 7.08 per cent, the highest rate in the past decade.

Last year, the country’s trade turnover also saw a positive increase of 12 per cent to US$482 billion while its inflation rate was controlled at 3.54 per cent, Dung said.

In his speech, the diplomat also praised bilateral trade with Argentina which hit nearly $3 billion in 2018. However, he said, the result still lagged behind the potential of the two countries.

He encouraged the two business communities to increase connectivity by exchanging delegations and participating in commercial events and trade fairs in each country. That would help them better understand business opportunities and find new partners.

At the event, representatives of the Argentine Chamber of Commerce for Asia and Argentine businesses shared their experience of trade activities with Vietnamese partners.

Argentina is now Viet Nam’s second biggest importer on the American continent while the Southeast Asian nation is Argentina’s fifth largest trading partner on a global scale.

The two nations are making efforts to lift bilateral trade turnover to $3.5 billion by 2020.

In order to reach the goal, analysts suggested both countries step up administrative reforms, remove trade barriers and facilitate businesses’ access to market information.

Enterprises themselves should stay proactive in grasping business opportunities, defining potential fields for broader co-operation, and seeking support from the two Governments to deal with challenges, they said. — VNS