Argentina supports initiation of Mercosur-Vietnam FTA negotiations: Ambassador

Argentine Ambassador to Vietnam Marcos Antonio Bednarski – photo: Thanh Tuan

At a press conference on December 10, newly-accredited Argentine Ambassador to Vietnam Marcos Antonio Bednarski stated that Argentina is very satisfied with the relationship between the two countries. In 2023, the two countries celebrated the 50^th anniversary of diplomatic ties, and they upgraded bilateral relations to a comprehensive partnership in 2010.

Regarding bilateral trade cooperation, Ambassador Marcos Antonio Bednarski emphasized that 2023 was not a favorable year as Argentina faced a historic drought that severely impacted production. In 2023, Argentina’s exports to Vietnam reached US$2.093 billion, a 35 percent decrease compared to 2022. Also in 2023, Vietnam’s imports from Argentina reached approximately US$1.4 billion, an increase of 12 percent compared to 2022. These results yielded a trade surplus of nearly US$700 million for Argentina.

“From January to October 2024, Argentina exported US$2.766 billion worth of goods to Vietnam, an increase of 47 percent compared to last year, and spent US$596 million on imports from Vietnam, a decrease of nearly 50 percent, primarily due to Argentina’s slower economic growth,” the ambassador said.

Ambassador Bednarski reported that from January to October 2024, the bilateral trade balance tilted in favor of Argentina, with a surplus of US$2.17 billion. Animal feed and corn account for 93 percent of Argentina’s exports to Vietnam. Other products include leather, seafood, pharmaceuticals, wine, and beef. Argentina imports from Vietnam phones, electronic devices, footwear, and textiles, among other products.

“Vietnam is Argentina’s third-largest trading partner in the Asia-Pacific region, behind China and India. Globally, Vietnam is Argentina’s eighth-largest trading partner in many aspects of trade. The trade value between the two countries keeps growing. In October 2024, Vietnam’s imports from Argentina increased by 185 percent compared to October 2023. I firmly believe the two countries will achieve further successes in bilateral trade cooperation,” Ambassador Bednarski said.

In addition to trade, Ambassador Bednarski also expressed his hope for the two countries to strengthen cooperation in the fields of biotechnology and energy, aiming at a green economy. Specifically, the Argentine Embassy is collaborating with the Agricultural Genetics Institute under the Vietnamese Ministry of Agriculture and Rural Development to conduct in-depth research on methods to enhance rice resilience and experiment with quinoa cultivation programs alongside the Vietnam National University of Agriculture.

The Argentine Ambassador shares information about Vietnam-Argentina economic cooperation, trade and investment at the press conference – photo: Thanh Tuan

The Argentine Embassy has partnered with Hanoi University of Science and Technology to implement a project aimed at improving the quality of dairy products, fostering innovation in the dairy processing industry. “The more we understand each other, the greater opportunities to deepen our bilateral relationship,” Ambassador Bednarski affirmed.

At the press conference, Ambassador Bednarski said that the two countries are negotiating the extension of the bilateral investment promotion agreement, which promises to boost mutual investment. The two nations are also negotiating a double taxation avoidance agreement and an air services agreement, aiming to establish direct air connectivity between Vietnam and Argentina in the near future.

Regarding Mercosur, Ambassador Bednarski shared that Vietnam has repeatedly expressed its desire to initiate negotiations for an FTA with this bloc.

“Argentina’s stance on this matter is to fully support initiating the negotiation process with Vietnam. Argentina has taken on the role of interim President of Mercosur. We operate a rotating presidency system, and in the first half of next year, Argentina will hold the presidency of Mercosur. We hope to achieve positive outcomes soon regarding the possibility of launching negotiations for this FTA,” Ambassador Bednarski stated.

Regarding the application of high technology in agriculture, Ambassador Bednarski noted that Argentina has achieved significant advancements in this field and is willing to share its experience with Vietnam. Moreover, energy is a potential area of cooperation, as Argentina possesses substantial reserves of oil and natural gas, along with lithium mines, which can contribute to energy transition and the development of a green economy.

“Argentina’s mining sector is receiving significant domestic investments to exploit copper, nickel, silver, and gold. We hope that Argentina’s mineral exports to Vietnam will see substantial growth,” Ambassador Bednarski stated.

The ambassador also pledged to enhance cooperation in cultural and social fields, such as promoting Tango art to a wider Vietnamese audience. In 2025, the Argentine Embassy plans to host Malbec Wine Day, a symbol of the South American nation, on April 16. Sports will also be a top priority, with plans for collaboration between experts from the two countries.

“In the field of sports, particularly football, Argentina has seen significant development. Currently, an Argentine Futsal coach is working in Vietnam. I hope that in the near future, the two countries will strengthen cooperation in sports, with more professional athletes from Argentina coming to work in Vietnam,” Ambassador Bednarski expressed.