Mexico to boost trade with Vietnam


HÀ NỘI – Mexico will be a gateway for Vietnamese firms to expand exports to Latin American markets, heard a conference yesterday.

The conference, held by the Việt Nam Chamber of Commerce and Industry (VCCI) and Mexico State Coordinating Business Council (Conceam), aimed to connect businesses between the two countries and exploit opportunities from the upcoming Trans-Pacific Partnership (TPP).

Mexico had been a traditional trade partner of Việt Nam for years and the two countries have untapped potential to boost co-operation in many sectors, according to Sara Valdes Bolano, Mexican Ambassador to Việt Nam.

Nguyễn Vũ Kiên from the VCCI’s International Relations Department said that bilateral trade between the two countries had been increasing and reached US$1.1 billion in the first half of this year.

“Room for growth in the bilateral trade remains large,” Kiên said.

He said that Việt Nam could connect Mexican products to ASEAN markets while Mexico would be an important gateway for Vietnamese products in Latin America.

Việt Nam mainly exports mobile phones and components, footwear, electronics, seafood and garment products to Mexico and imports electric products and equipments from the country.

The Mexico business delegation included 10 big firms operating in trade promotion, education, agricultural production and equipment, coming to Việt Nam to study investment policies and seek co-operation opportunities, according to a Concaem representative.

Experts at the conference said that a shortage of market information was a major challenge for businesses on both sides.

Concaem said that Mexico was willing to provide Vietnamese firms with market information to enable them to take opportunities in Mexico.

Two-way trade hit $3.8 billion in 2015, making Mexico the biggest trade partner of Việt Nam in Latin America and Việt Nam the eighth largest trade partner of Mexico in Asia-Pacific.

Source: Vietnam News

Photo: CBR Investment AG