Vietnam, Mexico promote economic, trade, investment cooperation

Undersecretary for Foreign Trade in Mexico’s Secretariat of Economy Luz Maria de la Mora spoke highly of the bilateral economic and trade relations, affirming that Mexico considers Vietnam a strategic market in the Asia-Pacific region.

She expressed her hope that the two countries' authorized agencies will continue strengthening close coordination in the coming time and their businesses will effectively take advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), contributing to promoting bilateral trade turnover as well as post-pandemic economic recovery.

The official affirmed that the Mexican Secretariat of Economy will create all favorable conditions and provide maximum support for the two business communities.

For his part, Deputy Minister Hai stated that Mexico is currently Vietnam’s second largest trading partner in Latin America, and Vietnam is Mexico’s eighth largest trader in Southeast Asia.

He quoted statistics of the General Department of Vietnam Customs as saying that two-way trade turnover grew positively in 2021, reaching 5.06 billion USD, up 37.5% year-on-year. The figure hit 2.33 billion USD in the first five months of 2022, up 21.9% year-on-year.

Vietnam wishes to further increase the trade and investment value with Mexico, with a focus on energy, telecommunications, high-tech agriculture and high value-added industries, said Hai.

Earlier, the two officials reviewed the outcomes of the third session of the joint committee, and discussed measures to promote bilateral economic and trade ties in the coming time.

Source: VNA