Argentina Affirms Commitment to Vietnam

At the meeting, Ambassador Marcos A. Bednarski and Director Tran Ngoc Liem exchanged general information about recent socioeconomic development and business activities in Vietnam and Argentina. Liem noted that, despite their huge untapped potential, Vietnam-Argentina trade and investment cooperation remains quite modest. He hoped that this situation will improve in the coming time, especially when the Chinese economy is forecast to be volatile as a result of US-China trade tensions. Particularly, Vietnam can prioritize investment in Argentina to make goods for Latin American countries while Argentina can increase investment in Vietnam to manufacture goods that Argentina needs and export to other potential markets to capture tariff incentives from the FTAs ​​that Vietnam is a signatory.

Meeting between Mr. Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry - Ho Chi Minh City Branch (VCCI - HCM) and Argentine Ambassador to Vietnam Marcos A. Bednarski 

Ho Chi Minh City has always led the country in all indicators from FDI attraction, import and export value to contributions to budget revenue, he added. With more than 10 million people, the city is a potential consumer market for Argentina. In trade, Argentina is currently one of the fourth largest export markets of the city. In investment, the country has four investment projects in HCM City with a total registered investment capital of nearly US$38,000. “HCM City is a dynamic economic "locomotive", with an open and transparent investment and business environment. The city’s leaders are always concerned about generating the most favorable conditions for FDI investors, including Argentine investors, with the desire to enhance the cooperative relationship between Ho Chi Minh City, Vietnam and Argentina,” Liem emphasized.

Ambassador Marcos A. Bednarski said that Vietnam and Argentina celebrated the 50th founding anniversary of diplomatic relations (1973-2023) last year. Leaders of the two countries have constantly paid attention to nurturing this strong friendship through high-level visits and outstanding achievements in economic, educational and medical cooperation. He hoped that business cooperation will be further strengthened to leverage and elevate Vietnam - Argentina friendship to new highs in the coming time.

VCCI is a national organization that plays an important role in promoting the development of the business community, boosting and supporting trade, investment, scientific and technological cooperation, and protecting the legitimate rights and interests of the Vietnamese business community in domestic and international relations, he added. Seeing the position and importance of VCCI in Vietnam-Argentina economic and investment cooperation, as soon as he was appointed as Ambassador of Argentina to Vietnam, he had a working meeting with VCCI President Pham Tan Cong at the VCCI headquarters and is currently having a working session with the leader of VCCI - HCM. Stating that Vietnam is Argentina's third largest market in Asia, developing trade with Vietnam plays a very important role for the Argentine economy, he also expressed his hope that there will be more connecting events and more cooperation opportunities between VCCI and the Argentine Embassy to further increase the effect of trade and investment cooperation in the coming time, thus enhancing the diplomatic relations between the two countries. “Vietnam has strong economic growth and Argentina will actively accompany Vietnam on this development journey. The two sides will give top priority to advocating the signing of the Vietnam - Argentina Free Trade Agreement to expand bilateral trade relations,” Ambassador Marcos A. Bednarski emphasized.

In response, Director of VCCI - HCM Tran Ngoc Liem said that, as a representative of the voice and interests of the business community, trade - investment promotion, policy advocacy and labor relations are typically branded activities of VCCI, including VCCI - HCM. In the past time, VCCI and the Argentine Embassy have constantly kept good cooperation ties by jointly organizing events during visits by senior Argentine leaders to Vietnam, regularly disseminating information about each other's trade and investment promotion events to the two countries’ business communities. “VCCI wishes to strengthen cooperation with the Argentine Chamber of Commerce - Industry and the Argentine Chamber of Commerce - Services in the coming time as well as stand ready to welcome Argentine business delegations to survey and seek opportunities investment in Vietnam. Through trade and investment activities of Argentine enterprises, Vietnam can connect with business associations in Argentina as well as other countries such as the US, South Korea and Japan. VCCI has a very close relationship with domestic trade associations, so it is completely confident that it can connect the business communities of the two countries. We do hope that, with its trade, investment and business activities in the southern region, the Argentine Embassy in Vietnam as well as Argentine businesses will confidently contact VCCI - HCM in the coming time. We have an outperforming trade and investment promotion and connection department, and we will do our best to support Argentine businesses to operate effectively in Vietnam,” he stated.

By: VBF