Deputy Minister Phung Duc Tien remarked that the 51-year partnership between Vietnam and Argentina has seen favorable developments in numerous sectors, including agriculture. The two countries have become significant partners as a result of the significant emphasis on trade. Vietnam highly values Argentina's status as a member and gateway to the South American Common Market (Mercosur). Vietnam prioritizes agricultural cooperation with Argentina, with a particular emphasis on agricultural trade and science and technology cooperation, which are the primary areas of collaboration at present.

Ambassador Marcos Antonio Bednarski of Argentina recognized the strategic significance of Vietnam to his country and the potential to enhance trade relations between the two nations.

Mr. Agustín Tejeda Rodriguez, Chief Economist at the Buenos Aires Grain Exchange, is responsible for the Economics, Agricultural Estimates, Technological Prospective, and Training departments. He expressed Argentina's intention to investigate investment opportunities between the two countries. Rodriguez has announced that the Argentine Ministry of Agriculture, Livestock and Fisheries will establish an agricultural advisory office at the Argentine Embassy in Vietnam. This office will be one of six such offices worldwide.

Argentina is currently experiencing a significant transition period, as its new government has implemented a variety of policies regarding trade and economics. These policies include the elimination of numerous trade barriers, the promotion of exports and imports, and the reduction of taxation.

Specifically, the Argentine Deputy Secretary declared that Argentina is committed to advancing negotiations for a free trade agreement between Vietnam and the Mercosur bloc, which is one of the top priorities of the new government. Furthermore, there is a focus on the continued advancement of the bilateral agenda to increase the market access of products from both countries.

Deputy Minister Phung Duc Tien confirmed that Argentina's decision to establish an agricultural advisory office in Vietnam is a wise decision, as Vietnam's agriculture is thriving despite the ongoing economic challenges. The MARD leadership underscored the importance of fostering agricultural trade with countries, such as Argentina.

Nevertheless, the trade imbalance between the two nations continues to be substantial. The disparity between Vietnam's exports to Argentina and its imports to Argentina reached 95 times in 2020, with Vietnam's exports totaling only USD 24.6 million and its imports increasing to USD 2.34 billion.

Therefore, Vietnam aspires to a mutually beneficial equilibrium in agricultural trade. The objective is to advance toward a Vietnam-Mercosur free trade agreement, thereby enhancing the relationship and achieving significant, sustainable trade advancements.