Paving the way for Vietnamese goods to enter Latin America.

Over six days, from November 16 to 21, Prime Minister Pham Minh Chinh attended the G20 Summit in Brazil, where he and President Luiz Inácio Lula da Silva announced the upgrading of relations to a Strategic Partnership.

Prime Minister Pham Minh Chinh and the President of the Dominican Republic witnessed the signing ceremony of cooperation documents between the two countries - Photo: VNA

Later in the Dominican Republic, Prime Minister Pham Minh Chinh and President Luis Rodolfo Abinader Corona found common ground in promoting a new phase of development in bilateral relations.

The talks between the Vietnamese Prime Minister and the President of the Dominican Republic on November 20 (local time) lasted about 30 minutes longer than expected, reflecting the in-depth exchange between the two sides.

What was said must be done, and results must be achieved.

Speaking to the press, the Prime Minister stated that he had proposed to President Luis Abinader the negotiation and signing of several important agreements, creating a legal foundation to promote comprehensive relations between the two countries. These include a free trade agreement; an agreement on the encouragement and protection of investment; an agreement on cooperation in culture, education , training, tourism, and people-to-people exchanges; and an agreement on visas to facilitate exchanges between the two countries.

The Dominican President emphasized that his country's strategic goal is to promote and elevate relations with Vietnam. He said he had discussed with the Prime Minister measures to strengthen bilateral cooperation, particularly in the fields of defense, telecommunications, oil, and tourism, where Vietnam has great potential.

According to Tuoi Tre newspaper's investigation, immediately after the meeting, demonstrating the Prime Minister's "saying is doing" spirit, a major Vietnamese telecommunications company quickly connected and began working with its Dominican counterpart. This company already has a strong presence in Latin America and has been of particular interest to the Dominican Republic for some time.

Speaking to Tuoi Tre newspaper, Minister of Construction Nguyen Thanh Nghi said that on November 21 (local time), he worked with his counterparts from the Dominican Republic to promote cooperation in the construction sector.

Local media previously reported that Dominica is accelerating the implementation of major projects such as airports and seaports to increase tourist numbers, thereby boosting the service industries – the backbone of the country's economy.

Further boost the market.

In an article titled "Latin America is pivoting toward Asia" published on Geo Politica, writer Santiago Olarte observes that East Asia, including Vietnam, is increasingly attracting strong attention from Latin American countries.

He wrote: "Latin American governments are attracted by the trade potential that Asia offers. The economies on both sides of the Pacific complement each other because Latin America primarily exports raw materials that Asian countries need for their manufacturing industries."

For this reason, the number of free trade agreements (FTAs) between the two sides of the Pacific has increased significantly. While there was only one 20-year-old agreement, that number has now risen to nearly 30. In addition, Latin American governments also view several Asian countries, including China, South Korea, Japan, and Vietnam, as important potential investors.

"Vietnam is improving its level of development in areas such as telecommunications, renewable energy sources, manufacturing, and electric vehicle development," Dr. Ruvislei González Saez, a leading researcher on Vietnam in Latin America, told Tuổi Trẻ newspaper.

According to him, this development is meeting the needs of many countries in Latin America, such as Brazil, which is a large market for electric vehicles, while other countries like Dominica want "advancements" in telecommunications with significant incentives. Vingroup and Viglacera, according to Ruvislei González Saez, are other names in Vietnam that are also receiving attention in Latin America.

"Promoting FTAs ​​between Vietnam and countries in the region will allow these companies to further expand their markets," he said.

Dr. Loc Thi Thuy (Vietnam Academy of Social Sciences) shared that during her field trips to Latin America, she observed that Vietnamese goods are very popular there. "Vietnamese products are considered high-end and of good quality, thus gaining trust. Besides that, the people here have a strong affection for Vietnam and its people," she said.

Source: https://tuoitre.vn/mo-duong-cho-hang-viet-nam-sang-my-latin-202411220758117.htm