HÀ NỘI — Việt Nam and Argentina are stepping up economic and trade cooperation, with both sides seeking to soon conclude a preferential trade agreement (PTA) between Việt Nam and MERCOSUR, the South American customs bloc comprising Argentina, Brazil, Paraguay and Uruguay, as momentum builds towards a more structured trade framework.

Deputy Minister of Industry and Trade Phan Thị Thắng held an online meeting on Friday with Fernando Brun, Secretary for International Economic Relations at Argentina’s Ministry of Foreign Affairs, International Trade and Worship, to review bilateral progress and discuss cooperation prospects for 2026.

According to Việt Nam’s customs data, two-way trade reached about US$4.3 billion in 2025, up 4.1 per cent year on year. Việt Nam’s exports totalled nearly $877 million, up 68.7 per cent, while imports stood at $3.4 billion, down 5.3 per cent. Argentina is currently Việt Nam’s third-largest trading partner in Latin America.

Việt Nam mainly exports phones and components, computers and electronics, footwear, machinery and textile materials while importing maize, animal feed, cotton, soybeans and vegetable and animal oils.

Against this backdrop, both sides are working to establish a more stable and predictable trade framework. Thắng welcomed the launch of Việt Nam–MERCOSUR PTA negotiations in December 2025 and urged Argentina, as MERCOSUR coordinator, to help accelerate talks towards an early conclusion.

She also updated the Argentine side on the implementation of outcomes from the eighth session of the Việt Nam–Argentina Intergovernmental Committee on economic, trade and scientific-technological cooperation.

These include the completion of the first round of negotiations on a double taxation avoidance agreement, as well as ongoing discussions on market access for agricultural products and intellectual property.

To further boost trade, investment and business connectivity, Thắng called on Argentina to send business delegations to major trade promotion events in Việt Nam, particularly the Vietnam International Sourcing Expo scheduled for September 2026.

For his part, Brun affirmed that Việt Nam is a priority partner in Argentina’s Look East policy in the Asia–Pacific. He added that Argentina is considering applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

He pledged close coordination to advance PTA negotiations with MERCOSUR in the coming period. — BIZHUB/VNS