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Argentina is a Fostering Vietnam-Argentina business linkslarge, potential market for Vietnamese exporters and investors, says an official of the Ministry of Industry and Trade (MoIT).

Addressing a Vietnam-Argentina business forum in Hanoi on January 21, MoIT Deputy Minister Tran Tuan Anh noted that two-way trade fetched US$1.01 billion as of November 2012, a year-on-year increase of 3 percent. Of the total, Vietnamese exports generated US$154.5 million.

Vietnam exports footwear, rubber and rubber products, electronics, garments and clothes to Argentina, and imports animal feed, processing materials, animal fat, milk and other dairy products, and garment accessories.

Vietnam has committed to helping the business circles of the two countries penetrate each other’s markets, aiming to raise bilateral trade value to US$1.5 billion in 2015.

Despite their potential for cooperation, Argentinean investment in Vietnam remains modest at US$120,000, ranking 92nd amongst 98 foreign investors in the country.

The governments of Vietnam and Argentina are trying to promote bilateral economic, investment and trade cooperation, as well as assisting their businesses, said Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI).

Vietnam creates favourable conditions for Argentinean companies to do business in the country, he assured participants, including representatives of 200 Argentinean companies.

VCCI has established the Vietnam-Latin America business council to assist Vietnamese businesses to explore markets in Latin America, Argentina in particular.

The council not only bridges the two countries’ business circles but also organizes trade and investment promotions and makes recommendations to their governments to create attractive investment environments.

Guillermo Moreno, Argentinean Domestic Trade Secretary, underlined the need to increase bilateral cooperation in economics, trade and investment.

He said the presence of 200 Argentinean businesses at the forum showed their keen interest in the Vietnamese market.

Argentina is willing to serve as a gateway for Vietnamese commodities to enter other markets in Latin America, said Moreno.

The forum was jointly organized by the Vietnam Chamber of Commerce and Industry and the Argentinean Embassy in Hanoi during the ongoing visit to Vietnam by President Cristina Fernandez.


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