Vietnam mulls FTA talks with Mercosur
Vietnam is considering negotiations on the Free Trade Agreement with the Common Market of South America (Mercosur) to promote its exports to Latin America.
>> Mercosur, a potential market for Vietnamese exports
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Mercosur, whose four permanent members are Argentina, Brazil, Paraguay and Uruguay, is the 5e largest economic bloc in the world and a promising market for Vietnam’s main export products.
Last year, trade between Vietnam and Mercosur grew by 9.2% year on year, reaching more than 12 billion dollars including more than 3.3 billion Vietnamese exports, up 3 .4%.
According to the Ministry of Industry and Trade, Mercosur has strengths in the production and export of agricultural products, animal feed, industrial materials and minerals. While Vietnam’s main export products to Mercosur are electronic and telecommunication equipment, textile products, footwear, etc.
The structure of complementary and not directly competing goods is also a strength of Vietnam in approaching this market.
Currently, Mercosur countries have no preferential trade agreements with countries whose export structure is in direct competition with Vietnam. So access to this market will create a boost for Vietnamese exports to all of Latin America.