Paving the way for Vietnamese goods to Latin America

During six days, from November 16 to 21, Prime Minister Pham Minh Chinh attended the G20 Summit in Brazil, and together with President Luiz Inácio Lula da Silva announced the upgrading of relations to a Strategic Partnership.

Prime Minister Pham Minh Chinh and the President of the Dominican Republic witnessed the signing ceremony of cooperation documents between the two countries - Photo: VNA

Then in the Dominican Republic, Prime Minister Pham Minh Chinh and President Luis Rodolfo Abinader Corona found common ground in promoting a new stage of development in bilateral relations.

The meeting between the Prime Minister of Vietnam and the President of the Dominican Republic on November 20 (local time) lasted about 30 minutes longer than expected, reflecting the in-depth exchange between the two sides.

Said must be done and has results.

In front of the press, the Prime Minister said he had proposed to President Luis Abinader to negotiate and sign a number of important agreements, creating a legal foundation to promote comprehensive relations between the two countries. These are the free trade agreement; the agreement on investment promotion and protection; the agreement on cultural cooperation, education, training, tourism, and people-to-people exchange; and the visa agreement to create the best conditions for exchanges between the two countries.

The Dominican President stressed that his country’s strategic goal is to promote and enhance relations with Vietnam. He said he discussed with the Prime Minister measures to enhance bilateral cooperation, especially in the fields of defense, telecommunications, oil and tourism, where Vietnam has great potential.

According to Tuoi Tre's investigation, right at noon after the meeting, demonstrating the Prime Minister's "say and do" spirit, a large Vietnamese telecommunications company quickly connected and worked with a Dominican partner. This is a company that has a strong presence in Latin America and has been of special interest to the Dominican Republic for a long time.

Speaking to Tuoi Tre, Minister of Construction Nguyen Thanh Nghi said that on November 21 (local time), he worked with his partner from the Dominican Republic to promote cooperation in the construction sector.

Local media previously reported that Dominica was pushing ahead with major projects such as airports and seaports to increase tourist numbers, thereby boosting the service sector - the backbone of the country's economy.

Further promote the market

In the article "Latin America is pivoting to Asia" published on Geo Politica, writer Santiago Olarte commented that East Asia, including Vietnam, is increasingly attracting strong attention from Latin American countries.

“Latin American governments are attracted by the trade potential that Asia offers,” he wrote. “The economies on both sides of the Pacific are complementary because Latin America largely exports raw materials that Asian countries need for their manufacturing industries.”

For this reason, the number of free trade agreements (FTAs) between the two sides of the Pacific has increased significantly. If there was only one agreement 20 years ago, this number has now reached nearly 30. In addition, Latin American governments also see a number of Asian countries, including China, South Korea, Japan and Vietnam, as important potential investors.

"Vietnam is improving its development level in areas such as telecommunications, renewable energy sources, manufacturing as well as electric vehicle development," Dr. Ruvislei González Saez, a leading researcher on Vietnam in Latin America, told Tuoi Tre.

That development, he said, is meeting the needs of many countries in Latin America, such as Brazil, which is a big market for electric vehicles, while other countries like Dominica want "advances" in telecommunications with great incentives. Vingroup or Viglacera, according to Mr. Ruvislei González Saez, are other names in Vietnam that are also receiving attention in Latin America.

"Promoting FTAs ​​between Vietnam and countries in the region will allow these companies to further boost the market," he said.

Dr. Loc Thi Thuy (Vietnam Academy of Social Sciences) shared that during her field trips to Latin America, she found that Vietnamese goods are very popular there. "Vietnamese goods are considered high-end and of good quality, so they are trusted. Besides, people here have a lot of affection for the country and people of Vietnam," she said.

Source: https://tuoitre.vn/mo-duong-cho-hang-viet-nam-sang-my-latin-202411220758117.htm