Buenos Aires: Vietnam – a populous country with rapid economic growth and sound engagement in the global supply chain – has attracted interest from South American enterprises, according to Dr. Ignacio Bartesaghi, Director of the International Business Institute of the Catholic University of Uruguay.

In a recent interview granted to the Vietnam News Agency, he affirmed that Vietnam has made significant transformation in recent years, with a great ability to lure foreign investment.

Speaking highly of Vietnam’s foreign policy, he said it helps the country set up close relations with world’s powers and regional countries.

He particularly stressed that Vietnam and Uruguay hold huge potential for economic cooperation, given the complementary nature of the two economies.

Uruguayan exporters will find opportunities in the Vietnamese market, and Uruguay also stands ready to welcome Vietnamese investors, he said.

Regarding the resumption of the negotiations for a free trade agreement (FTA) between Vietnam and the
Southern Common Market (Mercosur), Bartesaghi said the pact will be a wonderful opportunity for the bloc’s members, including Brazil, Argentina, Uruguay, and Paraguay, to bolster connectivity with Vietnam so as to diversify linkages with Asia-Pacific and open up new markets.

The negotiations between Mercosur and the EU has reached the stalemate, and this could be an opportunity for ASEAN countries after Singapore and the block clinched an FTA in 2023.

Mercosur could provide agricultural products for Vietnam and Indonesia while the two Southeast Asian countries could sell machines as well as technological and electronic products to Mercosur, he said./.

Source: Vietnam News Agency