Buenos Aires (VNA) – A delegation of Hanoi, led by Deputy Secretary of the municipal Party Committee and Chairman of the municipal People's Council Nguyen Ngoc Tuan, has been on a four-day working trip to Argentina since August 11, in an effort to beef up the capital’s cooperation with Argentinean localities.

At a meeting with the council and administration of Buenos Aires on August 12, Tuan praised the Vietnam-Argentina solidarity, friendship, and practical cooperation after over more than five decades since the establishment of their diplomatic relations and 14 years since the two nations set up their comprehensive partnership.

Acknowledging the coordination of the Argentinean Embassy in Vietnam in organising various cultural exchange activities, the official expressed his wish that the two sides will step up the sharing of experience in capacity enhancement, improving the effectiveness and inspection role of people-elected agencies, and the organisation of administrations at all levels.

He also called for collaboration in investment promotion, urban management, transport, environmental protection, cultural heritage preservation, and tourism and sports development, particularly football.

Matías López, First Vice President of the Buenos Aires City Council, commended the two capitals’ cooperation agreement signed in 2008, and expressed his hope that the two sides would continue to increase delegation exchanges, cultural interactions, and the exploration of investment and trade potential.

Ana Ciuti, Undersecretary of International Relations of Buenos Aires, affirmed that Vietnam is now a key hub of innovation in Southeast Asia, notably the Hoa Lac Hi-Tech Park in Hanoi. Buenos Aires, she said, is eager to exchange experiences and cooperate with the Vietnamese capital in technological development and the production of high-tech products.

As part of the working visit, a Hanoi-Argentina investment, trade, and tourism promotion conference was held on August 13, drawing the participation of nearly 70 Vietnamese and Argentinean enterprises.

In his opening remarks, Tuan stressed that Vietnam is regarded as a safe, attractive, and promising destination with a favourable investment environment for foreign businesses. He stressed that building on strong political and diplomatic ties, the two countries aim to boost economic and trade cooperation towards a bilateral trade target of 10 billion USD in 2025.

He assured that Hanoi authorities always value, accompany and are willing to create the best conditions possible for foreign businesses to invest and operate effectively.

At the conference, Vietnamese Ambassador to Argentina Ngo Minh Nguyet underscored the two countries’ significant potential for bilateral cooperation. The bilateral trade increased nearly 17-fold to 3.45 billion USD in 2023 from 204 million USD in 2004. Vietnam is currently Argentina’s sixth largest trading partner and fifth largest export market in the world, while Argentina is Vietnam’s third-largest trading partner in Latin America.

President of the Mercosur-ASEAN Chamber of Commerce (MACC) Rodolfo Caffaro Kramer said he hopes to establish joint ventures with Vietnamese firms, especially in the preservation of rice varieties and cattle embryos. He also stressed the importance of enhancing air connectivity to boost trade exchanges and proposed the opening of a direct air route between the two nations.

Concluding the event, representatives of Vietnamese and Argentine businesses inked various cooperation agreements.

While in Argentina, the Hanoi delegation also laid a wreath at Ho Chi Minh monument in Buenos Aires, held meetings with the local departments of justice, urban development, and foreign affairs, and worked with the Vietnamese Embassy./.