Positive figures on economic cooperation and trade exchange between Vietnam and Mexico were mentioned at a bilateral meeting between Minister of Industry and Trade Nguyen Hong Dien and Mexican Minister of Economy Marcelo Ebrard Casaubon on the sidelines of the 36th APEC Foreign and Economic Ministers Meeting in Korea.
The working session aimed to promote economic, trade and investment cooperation between the two countries within the framework of the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP) and regional and global mechanisms.
According to statistics from the Customs Department, the total bilateral trade turnover between Vietnam and Mexico last year reached 6.4 billion USD, up 21.8% over the previous year. The growth momentum continues to be maintained, reaching 5.9 billion USD in the first 9 months of 2025, up 24.2%.
Mexico is currently Vietnam's second largest trading partner in Latin America, after Brazil; while Vietnam is Mexico's eighth largest trading partner in Asia.
The two Ministers affirmed the importance of developing bilateral cooperation, considering it a driving force for sustainable growth for both economies .
Minister of Industry and Trade Nguyen Hong Dien and Mexican Minister of Economy, Mr. Marcelo Ebrard Casaubon.
Vietnam's main exports to Mexico include: seafood, coffee, plastic products, rubber, wooden furniture, textiles, footwear, computers, phones, electronics and components. Of which, exports of phones and components in 2024 will reach 1.1 billion USD, an increase of 23% compared to 2023 (899 million USD), exports of computers, electronic products and components will also increase by 36%, from 570 million USD in 2023 to 775.1 million USD in 2024, reflecting the increased demand for technology products in the context of economic recovery.
Minister Nguyen Hong Dien emphasized that Vietnam is ready to coordinate with Mexico to make the most of opportunities from the CPTPP Agreement, thereby expanding the market, diversifying supply sources and value chains between the two countries.
The two sides agreed to continue effectively implementing the contents agreed at the 3rd Meeting of the Joint Committee on Economic, Trade and Investment Cooperation between Vietnam and Mexico (held in September 2021); at the same time, promote connection activities, creating conditions for businesses of the two countries to participate in trade and investment promotion programs.
To promote two-way trade, Minister Nguyen Hong Dien asked Mexico to consider removing obstacles for Vietnamese steel exporting enterprises, ensuring the legitimate and legal rights of domestic producers.
Since the CPTPP Agreement came into effect, the bilateral trade picture between Vietnam and Mexico has recorded many bright spots, showing that Vietnamese enterprises have proactively and effectively taken advantage of CPTPP commitments to expand market share, despite challenges from the increasing trend of trade protectionism.
The Vietnam Trade Office in Mexico commented that Vietnamese enterprises are taking advantage of the CPTPP Agreement to achieve good growth in the context of Mexico applying a tax policy on countries that do not have a free trade agreement with Mexico, such as China.
More and more Mexican businesses are interested in learning about the Vietnamese market. There are many cases where this week a business asks for information about the market and next week they announce that they will go to Vietnam next month.
Advantages always go hand in hand with difficulties. Vietnam is a market that Mexican manufacturing companies want to sue for anti-dumping, especially steel products (first galvanized steel, then cold rolled steel, hot rolled steel, welding wire and lastly steel wire).
Some products will also be at risk of being sued for anti-dumping if businesses do not fulfill their textile commitments in the CPTPP. Therefore, the Vietnamese Government needs to take strong measures, build a legal environment for businesses to comply with and also need the cooperation of businesses.
Making recommendations to Vietnamese businesses when trading with Mexico, the Vietnam Trade Office in Mexico said that the office hopes that Vietnamese businesses will open warehouses to distribute processed agricultural products in Mexico, meeting the import needs of domestic distribution companies of Mexican supermarket chains serving this market of more than 134 million people.
In addition, Vietnamese enterprises need to take advantage of reasonable labor costs in the region and free trade agreements that Mexico has signed and participated in to produce, distribute in Mexico and export to the US as well as other countries in the region. In particular, the Vietnam Trade Office in Mexico noted that Vietnamese enterprises should boldly invest in Mexico, this is a market with great potential.
Source: https://moit.gov.vn/tin-tuc/thuong-mai-viet-nam-mexico-tang-toc-nho-cptpp.html
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