Ambassadors of ASEAN countries in Buenos Aires work with the the Argentine Industrial Union on Wednesday. — VNA/VNS Photo Diệu Hương

BUENOS AIRES — A meeting between ASEAN ambassadors and the Argentine Industrial Union (UIA) was held in Buenos Aires on Wednesday to strengthen engagement with Argentina's business community and explore opportunities for expanding economic, trade and investment cooperation.

The event, organised under the framework of the ASEAN Committee in Buenos Aires (ACBA), saw Vietnamese Ambassador Ngô Minh Nguyệt highlight the strong momentum in Việt Nam-Argentina economic ties.

Việt Nam is currently Argentina's sixth-largest trading partner, while Argentina ranks as Việt Nam's third-largest trading partner in Latin America.

Nguyệt noted that the two economies are complementary rather than directly competitive, providing a solid basis for sustainable bilateral cooperation.

Bilateral trade reached US$4.27 billion in 2025, up 4.1 per cent from the previous year.

Việt Nam's exports to Argentina rose 68.7 per cent to $876.74 million, while imports from Argentina declined 5.3 per cent to $3.39 billion.

Việt Nam mainly exports electronics, electrical equipment, footwear, machinery, garments and optical products to Argentina, while importing cereals, corn, animal feed, soybean meal, cotton, raw hides, meat and dairy products to support its manufacturing supply chains.

The ambassador said considerable room remains for cooperation in biotechnology, renewable energy, healthcare and pharmaceuticals, where Argentina has established strengths.

Việt Nam, meanwhile, can continue supplying competitively priced machinery, electronic components and consumer goods to support Argentina's industrial development.

She also highlighted the launch of negotiations for a Việt Nam - Mercosur Preferential Trade Agreement (PTA) as a significant step forward.

Preparations are under way for the first round of talks, expected to take place in late August.

According to the diplomat the agreement will provide fresh momentum for trade, investment and business connectivity between Mercosur and Việt Nam, and the wider Southeast Asian region.

She also introduced ASEAN as a market of more than 680 million people with a combined GDP exceeding $4 trillion.

Việt Nam's participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and more than 15 new-generation free trade agreements offers Argentine businesses broader access to Asia-Pacific markets through regional supply chains.

Ambassadors from the Philippines, Indonesia and Thailand, together with Malaysia's Chargé d'Affaires, also presented investment and trade opportunities with their respective countries and reaffirmed their commitment to strengthening business links between ASEAN and Argentina.

UIA President Martin Rappallini outlined Argentina's competitive advantages in food processing, agribusiness, biotechnology, pharmaceuticals, chemicals, energy, mining, agricultural technology and farm machinery manufacturing.

He noted that Argentina is one of the world's leading agricultural exporters and possesses vast lithium reserves, abundant energy resources in the Vaca Muerta region and a growing innovation ecosystem. He expressed hope for closer cooperation with ASEAN, describing the bloc as a strategic and fast-growing market with significant long-term potential.

Rappallini said stronger ASEAN-Argentina ties would not only boost bilateral trade but also help create new supply chains linking Southeast Asia and South America. — VNA/VNS