Latin America and Vietnam, despite the geographical distance that separates them, share a solid friendship, with bilateral relations dating back to the late 19th century.
In 1912, exactly a century ago, Vietnamese President Ho Chi Minh visited the island of Martinique in the Caribbean, Uruguay and Argentina; where he laid the foundations of solidarity, friendship and cooperation with his country.
During the 60s and 70s of the 20th century, in the midst of Vietnam’s intense struggle for its national liberation, there was strong support from Latin American countries for this country, achieving the first diplomatic ties with Argentina, Chile and Cuba; expanding to 10 other Latin American countries between 1975 and 1980.
Latin American nations supported Vietnam’s admission to the United Nations in 1977, helping to overcome the aftermath of the war and increase diplomatic relations.
Bilateral relations have been increasing with the 33 countries of Latin America, achieving constant growth in all areas since the coming to power of Doi Moi (a comprehensive reform program that promotes the economy and foreign investment) in 1986. .
High-level visits have contributed significantly to the formation of several comprehensive partnership frameworks with this country, achieving an Intergovernmental Committee mechanism and a political consultation mechanism with multiple Latin American nations. It has signed numerous cooperation agreements and treaties, establishing a favorable legal framework in relations with Latin America.
Mutual support in international organizations, multilateral forums has increasingly increased; The development of political and diplomatic relations has strengthened, as well as the cultural exchange between the people of Vietnam and Latin America.
Focusing on Argentina, the third high-level visit was made by Mauricio Macri, invited by his Vietnamese counterpart, Nguyen Phu Trong, where agreements were signed to expand bilateral trade, in conjunction with another series of agreements such as the “Action Plan on Technical Cooperation.” for the development of capacities for the identification of Vietnamese martyrs.”
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In June 2021, Argentina completed the first shipment of yerba mate and in May of this year the first container of dulce de leche from Argentina arrived at the main ports of Vietnam, thus beginning the export of this emblematic national product.
Regarding economic, commercial and investment relations between Vietnam and Latin American nations, they have experienced strong growth. Over the past two decades, bilateral trade volume has increased by 67%, reaching around $20 billion in 2022 (compared to $300 million in 2000). Various investment projects have been implemented in strategic areas such as energy and telecommunications. Despite this great progress, economic relations are still modest, being able to achieve greater economic exchange in agriculture, renewable energy, biotechnology, logistics and telecommunications.
Vietnam, with a population of almost 100 million people and a strategic location in East Asia, is a great market to explore. Its foreign policy has as its central axis to further develop relations of friendship and cooperation with all Latin American nations; as well as being a bridge promoting economic relations between Latin America and East Asia.
The trend of interregional cooperation through mechanisms such as APEC, FEALAC, CPTPP, ASEAN-MERCOSUR are opportunities to connect countries on both sides of the Pacific basin.
Currently, Vietnam is willing to develop cooperation and investment projects with all Latin American countries in various fields that strengthen bilateral relations; whether they are the development of traditional and renewable energy sources, thermal energy, hydroelectricity, nuclear energy, wind energy, biofuels, infrastructure construction, pharmaceutical products, agricultural products and food processing; thus further deepening the historical and cultural bond that unites them, contributing to global development, peace, stability and economic growth.
Collaborator at ReporteAsia.