The upcoming Ministerial Forum on Vietnam-Latin America Trade and Investment, scheduled for July 5-6 in Hanoi, will create a breakthrough to accelerate and deepen bilateral relations for mutual benefits.
In response to reporters’ questions about the upcoming event, Deputy Foreign Minister Nguyen Phuong Nga reaffirmed Vietnam’s policy of developing comprehensive cooperation with Latin-American nations.
She said Vietnam and Latin-America have great potential for fostering cooperation in various fields, especially trade and investment.
Bilateral ties have constantly grown over the past decade with two-way trade increasing 15 fold (from US$300 million in 2000 to US$4.5 billion in 2011), she cited, adding that in the context of international integration and economic links between East Asia and Latin America, both sides have enormous strengths that can supplement each other.
Nga said the Latin America’s huge demand for goods will give a boost to Vietnam’s exports in exchange for a supply of materials, fuel, capital, and technology from that region.
In their strategic approach to the Asia - Pacific region, Nga said, Latin American countries attach great importance to developing relations with Vietnam, which holds an important position in Southeast Asia thanks to its socio-political stability and dynamic economic growth.
Another factor that attracts foreign investors to Vietnam, Nga said, is its large population of 90 million and its active international integration.
There is high hope that the forum will create favourable conditions for participants to exchange information and seek measures to boost cooperation between Vietnam and Latin-American countries, Deputy FM Nga said, adding that the decision to organize the forum has received a positive response from many Latin-American countries.
The forum will focus on three main themes including “Vietnam - Latin America business investment and ideas for trade - investment promotion,” “Vietnam - Latin America traffic connectivity, logistics, telecommunications and services” and “Vietnam - Latin America partnership in agriculture and energy,” Nga revealed.
In preparation for the event, the first of its kind, the Foreign Ministry has set up an organizing board with the participation of representatives from related ministries and agencies to ensure the forum will be a great success, Nga said.
VOV
Vietnamese
