The Ministry of Industry and Trade (MoIT) is taking measures to promote the negotiations of a free trade agreement (FTA) with the Southern Common Market (Mercosur - including Brazil, Argentina, Uruguay, and Paraguay), which is expected to be a driving force for Vietnam to tap the Latin American market.

VOV.VN - Vietnam attaches importance to and wishes to boost its cooperative tis with Brazil, one of Vietnam’s leading important partners in Latin America, said acting State President Vo Thi Anh Xuan,

VOV.VN - Uruguayan President Lacalle Pou joined with Vietnamese Ambassador Duong Quoc Thanh to discuss a range of measures aimed at further promoting strong ties between the two countries amid both nations set to celebrate the 30th anniversary of their diplomatic ties ahead in 2023.

VOV.VN - Despite trade activities between the nation and South American nations seeing growth in recent times, it remains far from fulfilling its full potential, especially for the textile and garment sector, according to industry insiders.

VOV.VN - Vietnam always places great importance on its relationship with Argentina and stays ready to work with the country to further develop their bilateral comprehensive partnership in a deeper and more effective manner.

Vietnam hopes to further increase trade and investment with Latin American countries, with a focus on energy, telecommunications, hi-tech agriculture, and industries with high added value, an official has said.

VOV.VN - Vietnam has become Brazil’s leading trade partner in ASEAN, with two-way trade exceeding US$3 billion in July, an annual rise of 28%, according to the secretary for Bilateral Negotiations in Asia, the Pacific, and Russia at the Ministry of Foreign Affairs of Brazil.

Peru’s official ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help boost trade between Vietnam and the South American nation.

VOV.VN - Mercosur, the South American trade bloc, is considered a potential market for Vietnamese products such as garments, footwear, handicrafts, and processed foods, despite the novel coronavirus (COVID-19) epidemic causing disruption to traditional supply chains.