Promoting bilateral trade

On August 18, the Fourth Session of the Joint Committee on Economic, Trade and Investment Cooperation between Viet Nam and Uruguay was held in Ha Noi, co-chaired by Deputy Minister of Industry and Trade of Viet Nam Phan Thi Thang and Deputy Minister of Foreign Affairs of Uruguay Valeria Csukasi.  

The Vietnamese delegation included representatives from the Ministry of Industry and Trade; the Ministry of Foreign Affairs; the Ministry of Agriculture and Environment; the Ministry of Science and Technology; the Ministry of Finance; and the Ministry of Culture, Sports and Tourism. The Uruguayan delegation included the Deputy Minister of Livestock, Agriculture and Fisheries and the Ambassador Extraordinary and Plenipotentiary of Uruguay to Viet Nam.

At the session, the two sides exchanged views on the current state of cooperation between Viet Nam and Uruguay in the areas of economy, trade, investment, customs, agriculture, and science and technology. They also reviewed the outcomes achieved since the Third Session of the Joint Committee, held in April 2023, and discussed and proposed areas of work to be carried out in the coming period to further advance bilateral cooperation.

Addressing the session, Deputy Minister Phan Thi Thang said that economic and trade relations between Viet Nam and Uruguay had developed positively in recent years. The impressive growth in bilateral trade turnover demonstrated substantial room for further expansion. The export and import structures of the two countries were clearly complementary, creating mutually beneficial two-way value chains, with Viet Nam supplying industrial, electronic and consumer goods, while Uruguay serving as a source of raw materials for Viet Nam’s production and export activities.

Within the framework of the session, the delegates discussed measures to increase bilateral trade turnover and diversify the structure of traded goods, with a view to achieving a more sustainable trade balance. The two co-chairs agreed to strengthen trade promotion activities to support businesses from both countries in gaining access to each other’s markets, while continuing discussions on market opening for key agricultural products of each country.

Expanding the scope of Viet Nam - Uruguay cooperation

Viet Nam and Uruguay highly valued the spirit of cooperation, goodwill and determination demonstrated by both sides during negotiations on the Viet Nam - MERCOSUR Preferential Trade Agreement (PTA). The two sides committed to making every effort to ensure the success of the first round of negotiations, thereby laying the groundwork for subsequent rounds and advancing towards an agreement that would bring benefits to both sides.

In addition, a number of new areas of cooperation were proposed, including agriculture, customs, science and technology, software, timber exploitation and processing, renewable energy, innovation, and exchanges in culture, sports and tourism. Deputy Minister of Foreign Affairs of Uruguay Valeria Csukasi said Uruguay had strengths in the food industry and value-added agricultural products, while placing a strong priority on innovation, science and technology.

At the multilateral level, both countries are currently assuming important roles. Viet Nam is the 2026 Chair of the CPTPP Commission and will host APEC 2027, while Uruguay has served as the pro tempore President of the Community of Latin American and Caribbean States (CELAC) since March 2026 and assumed the pro tempore Presidency of MERCOSUR in July 2026. These roles provide opportunities to expand the scope of cooperation not only between the two countries but also between their respective regions and market blocs.

The two sides agreed to continue close coordination in developing specific action plans to effectively implement the areas of cooperation agreed upon at the session.

At the conclusion of the session, Deputy Minister of Industry and Trade Phan Thi Thang and Deputy Minister of Foreign Affairs of Uruguay Valeria Csukasi signed the Minutes of the Fourth Session of the Joint Committee on Economic, Trade and Investment Cooperation between Viet Nam and Uruguay.

Also within the framework of the session, the two Deputy Ministers exchanged a Memorandum of Understanding (MoU) on cooperation between the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade and Uruguay XXI, Uruguay’s investment and export promotion agency.

In 2025, total two-way trade turnover between Viet Nam and Uruguay reached USD 268.42 million, representing an increase of 58.4% compared with 2024. Of this, Viet Nam’s exports to Uruguay amounted to USD 179.92 million, up 64.8%, while Viet Nam’s imports from Uruguay stood at USD 88.50 million, up 46.8%.

In the first six months of 2026, bilateral trade reached USD 148.35 million, an increase of 21.8% year on year. Viet Nam’s exports amounted to USD 106.52 million, up 57.5%, while imports stood at USD 41.83 million, down 22.7%.

Viet Nam’s major exports to Uruguay include telephones and components; footwear; toys, sports equipment and parts thereof; textiles and garments; computers, electronic products and components; and machinery, equipment, tools and other spare parts, among others.

Viet Nam’s major imports from Uruguay include wood and wooden products; milk and dairy products; textile, garment, leather and footwear materials and accessories; wheat; animal feed and raw materials; and chemicals, among others.