Despite the geographical distance, over the past years, Vietnam and Argentina have constantly enhanced their cooperation in many fields and obtained many positive results. The two countries have maintained regular visits and exchanges with each other, towards expanding cooperation right after COVID-19, at both the high-ranking, ministerial and local levels, thereby strengthening the political trust between the two countries.
In 1996, Argentina and Vietnam signed two agreements on economic and trade cooperation and encouragement of mutual investment protection. To implement effective cooperation, the two countries upgraded their relations to a comprehensive partnership in 2010, and since then, trade exchanges have grown steadily.
In the immediate future, the National Assembly (NA) of Vietnam supports the consideration of bringing Vietnam-Argentina relations from a Comprehensive Partnership to a Strategic Partnership, by sectors with industry, agriculture and energy.
In addition, the Vietnamese NA has sent many delegations of National Assembly leaders to visit and work in Argentina, including senior leaders and specialised committees of the NA. The economic, trade and investment cooperation between the two countries plays an important role and is the basis for promoting the comprehensive partnership. Their bilateral trade has continuously increased, from 316 million USD in 2007 to nearly 5 billion USD in 2022 (up over 15 times).
Vietnam is the sixth-largest trading partner and fifth-largest export market of Argentina in the world, as well as a key partner in Argentina's South-South cooperation in Southeast Asia. Meanwhile, Argentina is Vietnam's third-largest trading partner in Latin America. The main commodities that Argentina imports from Vietnam include textiles, footwear, rubber, electronic components, mechanical tools, furniture, spare auto parts and handicrafts. The major products that Argentina exports to Vietnam are soybeans, wheat, livestock by-products, pharmaceuticals, chemicals, machinery, auto parts, dairy, wood, steel and wine.
The two sides work together to strengthen business connectivity and strive to increase bilateral trade, towards the goal of reaching 10 billion USD by 2025, in which the contributions of businesses from the two countries play an important role. In the near future, the two countries will continue to assess complementary potentials and strengths, thereby promoting cooperation in available fields (agricultural engineering and processing technology) substantively, while expanding new cooperation fields (energy and mining).
Besides, the two countries’ relations in many other fields have also been promoted. In August 2012, Argentina inaugurated a statue of President Ho Chi Minh in Buenos Aires. In June 2022, the two countries signed an Agreement on establishing friendship and cooperation between Da Nang and Mar del Plata cities. The two sides have also maintained the exchanges between universities and art exhibition organisers.
With its strengths, Argentina has actively supported the training of Vietnamese cadres in the field of forensic anthropology, serving in the identification of war martyrs. During the outbreak of COVID-19, the two sides maintained their assistance and close cooperation. Vietnam presented 20,000 face masks, while Argentina presented donated 500,000 doses of the AstraZeneca vaccine to Vietnam.
In multilateral cooperation, the two sides have actively coordinated and promoted a mutually supportive stance at regional and international organisations and forums, the Forum for East Asia-Latin America Cooperation (FEALAC) and the World Trade Organisation.
Argentina supported Vietnam's accession to the WTO and position as a non-permanent member of the UN Security Council for the 2008-2009 and 2020-2021 tenures, as well as the recognition of Vietnam's market economy status (April 2010). Meanwhile, Vietnam supported Argentina as a non-permanent member of the UN Security Council for the 2004-2005 tenure, the UN Human Rights Council for the 2008-2011 tenure, and the International Maritime Organisation (IMO) Council for the 2010-2012 tenure. The two sides have supported each other to stand for election to the UN Human Rights Council (Vietnam, for the 2014-2016 and 2023-2025 tenures and Argentina for the 2013-2015 and 2022-2024 tenures) and the UN Economic and Social Council (Vietnam for the 2016-2018 tenure and Argentina for the 2015-2017 tenure).
The close connection and mutually supportive stance at international forums and organisations have helped the Vietnam-Argentina friendship become closer, contributing to peace and stability and promoting cooperation and development of the region and the world.
