Argentina is the second largest trade partner of Viet Nam in Latin America and Viet Nam is the fifth largest import market for Argentina globally, experts said at a Viet Nam - Argentina business forum in Ha Noi on Tuesday.

The business forum, co-hosted by the Argentine Embassy in Viet Nam and the Vietnamese Ministry of Industry and Trade, is part of activities during the official visit to Viet Nam by Argentine Minister of Foreign Affairs and Worship Jorge Faurie.

Two-way trade between Viet Nam and Argentina has seen encouraging growth in recent years, hitting US$3 billion last year.

Viet Nam exports to Argentina include garment materials, footwear, machinery, equipment and spare parts, while importing animal feed, materials, corn, wheat and some seafood products from the Latin American country.

These outcomes reflected the efforts made by diplomatic, economic, industrial and agricultural agencies of the two countries, Doan Thi Thu Thuy, deputy head of the Ministry of Industry and Trade’s Trade Promotion Department, said.

She also added that trade connection activities were organised regularly and effectively with the active and responsible engagement of both sides’ business communities.

At the forum, representatives from Vietnamese and Argentine businesses studied bilateral trade and economic relations and investment opportunities as well as promoted connections in the fields of foodstuff, processed food, beverages, fruit, animal feed and pharmaceuticals.

Addressing the meeting, Minister Jorge Faurie said he was pleased with bilateral relations and the growth in two-way trade. He stressed that celebrating the 45th anniversary of bilateral diplomatic ties (October 25, 1973-2018) is an important milestone in the co-operation between the two nations.

He expressed his hope that the Viet Nam-Argentina relationship will continue to thrive with the increase of visits and all-level delegation exchanges.

Argentina would do its best to boost and diversify trade ties and multi-faceted co-operation with Viet Nam, he said, adding that Argentine businesses paid attention to collaboration in biodiversity, services, pharmaceuticals and technology with Viet Nam. — VNS