HÀ NỘI — Việt Nam wants to further cooperation in trade and investment with Argentina as the untapped potential between the two countries remained significant, Deputy Prime Minister Vũ Đức Đam said at the Việt Nam-Argentina Business Forum in Hà Nội on Thursday.

Themed “Partners in Growth”, the forum was co-organised by the Việt Nam Chamber of Commerce and Industry (VCCI) and the Argentina Embassy to Việt Nam with the participation of President of Argentina Mauricio Marci on his two-day official visit to Việt Nam.

Việt Nam always regards Argentina as one of its most important partners in Latin America, Đam said, adding that Argentina was now the second largest trade partner of Việt Nam in the region, coming only after Brazil.  

Economic cooperation between Việt Nam and Argentina is developing. However, the results remained modest compared to the large potential between the two countries, Đam said. Two-way trade reached US$3 billion in 2018 and there were just four projects with investment from Argentina in Việt Nam.

The trade and investment cooperation between the two countries needed to be strengthened, Đam said, adding that Việt Nam pledged to create favourable conditions for investors from Argentina to do long-term business in the country.

He said that Việt Nam was calling on investment in sectors such as infrastructure development, high technology and healthcare.

Đam also suggested Argentina open its market for Việt Nam’s products, especially farm produce.

Argentinean President Macri said that Argentinean firms were showing significant interest in Asian markets, including Việt Nam, in sectors like telecommunications, agriculture and the animal feed industry. He added that the prospect for cooperation was bright and there were a number of sectors in which the two countries could further their cooperation.

VCCI Chairman Vũ Tiến Lộc said that the forum was an important opportunity for companies from both sides to seek business cooperation, especially in import and export.

Vietnamese firms wanted to expand exports to the South American region through Argentina while Argentinean businesses through Việt Nam could expand their market in ASEAN.

Lộc believed in the future more investors from Argentina would come to invest in Việt Nam, given the country’s improved business climate and the Government’s reform efforts.

Lộc added that VCCI would implement a number of action programmes to promote trade and investment exchanges with Argentina. Especially, a Việt Nam-Argentina business council would be established soon.

Deputy Minister of Industry and Trade Đỗ Thắng Hải urged the two governments to create favourable conditions for businesses from both countries through completing the legal framework, reducing trade barriers and increasing promotion activities while removing difficulties faced by firms.

The two countries targeted to reach bilateral trade of $3.5 billion in 2020. — VNS