Argentina - Vietnam: Meeting with Vietnam’s Prime Minister and senior authorities to strengthen foreign trade

On the second day of her official visit to Vietnam, Foreign Minister Diana Mondino met with the Vietnamese Prime Minister, Pham Minh Chinh; the Minister of Industry and Trade, Nguyen Hong Dien; and the Deputy Minister of Agriculture and Rural Development, Nguyen Quoc Tri. She also held a meeting with Argentine and Vietnamese businesspeople, as part of a working agenda focused on growth opportunities for trade and investment.

After participating in a wreath-laying ceremony at the Monument to the Heroic Martyrs, Foreign Minister Mondino met with the Minister of Industry and Trade, Nguyen Hong Dien, with whom she discussed the current state of bilateral trade and the possibilities for expanding and diversifying it. In this regard, Mondino explained that, in strategic sectors for Argentina, the incorporation of technological capabilities suggests that Argentina's export offer will not only grow in volume, but also in quality and sophistication.

Mondino also met with the Deputy Minister of Agriculture and Rural Development, Nguyen Quoc Tri, to discuss progress towards a Strategic Partnership in the agro-industrial sector between both countries. At the meeting, they also addressed specific technical issues of great importance, such as the negotiations on the import of Argentine products into Vietnam - including pork, sweet citrus fruits, and red bovine offal, among others - and the resumption of poultry meal exports. In that regard, Mondino noted that Argentina's priority is to conclude the ongoing sanitary and phytosanitary negotiations, in accordance with the commitments undertaken. In addition, she stated that, once implemented, the agreed opening of the market will make it possible to diversify products and progressively incorporate more goods from both countries into the bilateral trade exchange.

In 2023, Vietnam was the 7th top global destination for Argentine exports, which makes it one of the countries with which Argentina has one of its largest trade surpluses, as Argentina's exports amounted to USD 2 billion, while its imports totalled USD 1,3 billion. Argentine exports are concentrated in residues of the food industry (53.2%) and cereals (40%) while imports from Vietnam are mostly machinery and electric appliances (70.7%), shoes (12.5%) and mechanical machines and appliances (6.5%). This bears witness to the strength and convenience of the Strategic Partnership between both countries in the agro-industrial sector.

In addition, during the meetings, Mondino highlighted the positive impact of the bilateral Technical Cooperation Program, which has given rise, to date, to 15 projects carried out through the Argentine Fund for International Cooperation (FO.AR), including the exchange of 130 Argentine and Vietnamese experts. The program will continue as an important instrument to enhance bilateral relations.

Vietnam is one of the countries with the highest number of projects on technical assistance and know-how exchange with Argentina, especially in the agricultural sector. Through Bio-economy, together with the Animal Health authority (SENASA) and the National Institute of Agricultural Technology (INTA), Argentina is currently working on 4 cooperation projects, including rice and soybean crop enhancement, technological innovation for the dairy industry and tropical fruticulture.

As she closed her official two-day agenda in Vietnam, Mondino was welcomed this afternoon by Prime Minister Pham Minh Chinh, to whom she conveyed the importance attached by Argentina to the bilateral relationship. In this regard, Mondino delivered an invitation extended by President Javier Milei for the Vietnamese Prime Minister to pay an official visit to Argentina during 2024.

The Vietnamese Prime Minister and the Argentine Foreign Minister also highlighted that last year marked the 50th anniversary of the establishment of diplomatic relations between the two nations, which enabled enhanced cooperation in different areas of mutual interest, including trade, investments, space matters, and science and technology. Vietnam's sustained growth is proof of the effectiveness of increasing exports.

Finally, Mondino held a business lunch with Vietnamese businesspeople, current importers and potential investors, where she gave an overview of the reforms that the Argentine Government is implementing.

As she carried out the activities on the agenda, Mondino was joined by the Secretary for International Economic Relations, Marcelo Cima, and the Argentine Ambassador to Vietnam, Pablo Beltramino.

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