Vietnam – Latin America: Trade and investment partners for development

This is the theme of the Forum that opened this morning (July 5) in Hanoi. Prime Minister Nguyen Tan Dung attended and delivered an important speech at the opening session.



Speaking at the opening ceremony of the largest-ever event promoting trade and investment between Vietnam and Latin America, Foreign Minister Pham Binh Minh said: The good and constantly developing traditional political and friendship relations have created a premise and solid foundation for expanding and strengthening multifaceted cooperation between Vietnam and Latin American countries, especially in the fields of trade and investment.

However, the potential for cooperation between the two sides is still very large, with many favorable conditions to develop the Vietnam - Latin America cooperation in both breadth and depth, especially in the fields of economics, trade and investment, so as to be commensurate with the good political relations between Vietnam and Latin America.

In that context, Vietnam proactively proposed the idea of ​​organizing the forum and received strong response from Latin American friends. This forum will discuss 3 contents: “Vietnam – Latin America business and investment environment”; “Connecting Vietnam – Latin America transportation, logistics, telecommunications and services” and “Vietnam – Latin America agricultural and energy partnership”.

Attending and giving a speech at the Forum, Prime Minister Nguyen Tan Dung affirmed: In the foreign policy of expansion, multilateralization, diversification of relations, proactive and active international integration, Vietnam always attaches importance to and is determined to develop friendly and cooperative relations with Latin American countries, bringing those relations increasingly deeper, more practical and effective, actively serving the development of Vietnam as well as Latin American countries, contributing to peace, cooperation and development of the region and the world.

Vietnam wishes and is ready to promote cooperation and investment in the fields of oil and gas, energy, consumer goods production, agricultural and aquatic products and also has a need to import many raw materials from Latin American countries. Vietnam believes that Latin American friends will actively participate and become an important part in Vietnam's development, and Vietnam is also ready to participate in the development of Latin American friends.

Prime Minister Nguyen Tan Dung welcomed and highly appreciated the organization of this Forum by both sides. This is the first time a large-scale event between the two sides has been organized, opening up many opportunities and great prospects for us to jointly develop the existing good traditional relationship into a comprehensive partnership for peace and development.

In that spirit, the Prime Minister proposed that representatives of the Government, ministries, branches, localities, and businesses at this Forum discuss to learn about partners, potentials, opportunities, and investment and business environments of each side; on that basis, form ideas, policy orientations, cooperation mechanisms, and specific investment and business agreements.

Prime Minister Nguyen Tan Dung confidently affirmed: “Despite the geographical distance, Vietnam always considers Latin American countries as close, united and friendly friends. We are facing a great opportunity for socio-economic development. The national aspiration for independence and freedom together with the aspiration for cooperation for peace and development will be the strong spiritual bond that binds us even more in the future.”

On the occasion of this Forum, Prime Minister Nguyen Tan Dung also conveyed to the Government and people of Latin America his deep gratitude for the solidarity and valuable support that the Government and people of Latin American countries have given to Vietnam during the most difficult periods of the struggle for national liberation and reunification in the past as well as in the cause of national construction, protection and integration today.

Colombian Deputy Minister of Foreign Trade, as regional coordinator of the East Asia-Latin America Cooperation Forum, Mr. Gabriel Duque Mildenberg said: Given the dynamic development of the region, establishing cooperative relations between developing countries, including Vietnam, is very necessary and important. In the process of searching for stable development drivers, the relationship between Asia and Latin America has helped countries, including Colombia and Vietnam, maintain political and socio-economic stability in the context of today's volatile world. Vietnam is increasingly making important contributions to promoting common development with partner countries. The path of integration between Asia and Latin American countries, there is no other path than integration and development".

In recent years, economic and trade cooperation between Vietnam and countries in this region has continuously increased, especially trade exchange has increased impressively, two-way trade turnover increased 17 times in the past 10 years (from 300 million USD in 2000 to 5.1 billion USD in 2011).

Vietnam is an emerging market with nearly 90 million people, with an average economic growth rate of 6-8% per year over the past 20 years, total import-export turnover in 2011 reaching 202 billion USD, FDI reaching 14.7 billion USD. With an open and dynamically developing economy, a member of many regional trade liberalization mechanisms, an attractive destination in the region for foreign investors, Vietnam will be the gateway for friendly countries in Latin America to access the large market in Southeast Asia and Asia-Pacific.

Latin America has a population of over 570 million, a total GDP of over 5,500 billion USD (including 3 economies in the G20: Brazil, Mexico, Argentina), abundant resources, potential in capital, science and technology, diverse demand for goods and suitable for Vietnam's export structure. Latin American countries are promoting regional economic integration while expanding trade relations with the Asian region, including Vietnam.

There are many potentials and strengths between Vietnam and Latin American countries that can complement each other. For example, Latin American countries have high levels of expertise in the processing industry, oil and gas exploitation and processing, mining, energy, biotechnology, etc. Meanwhile, Vietnam has strengths in the production and assembly of electronics, household appliances, automobiles, motorbikes and telecommunications technology. Therefore, the outstanding priorities in cooperation between Vietnam and Latin America will focus on the following areas: Transportation, services, logistics, telecommunications, energy, etc.

The forum participants believe that this is an opportunity for partners to meet, directly exchange information, seek cooperation opportunities, contribute to strengthening trade and investment relations between Vietnam and Latin American countries, develop economic and trade relations commensurate with the potential and good political relations between Vietnam and Latin American countries, and meet the aspirations and interests of Vietnam and Latin American countries.

The forum is also an opportunity to promote and introduce the country, people and culture of Vietnam to Latin America, contributing to further strengthening the friendship and mutual understanding between the Vietnamese people and the Latin American people.

Immediately after the opening ceremony, many seminars and bilateral meetings will be held for the two sides to discuss and learn about the Vietnam - Latin America investment business environment in many areas of mutual interest./.

According to (Vov.vn)-LT