As per the preliminary data released by the General Department of Vietnam Customs, country’s exports to Argentina showed a 3.38 per cent year on year increase to US $ 284.3 million in the first nine months of the current year.
Major export commodities included footwear, rubber and products, garment and electronics. Among them, footwear export topped the list by showing an increase of 49.42 per cent to US $ 46.4 million against the first nine months of previous year. It was followed by garment and footwear materials which registered an increase of 33.25 per cent to US $ 45.4 million over the same period last year. However, garment exports showed a decline of 15.83 per cent to US $ 15.6 million versus the prior year.
In return, Vietnam imported garment materials and accessories from Argentina.
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In 2014, the Vietnam Chamber of Commerce and Industry signed a corporate agreement with Mercosur-ASEAN Chamber of Commerce and set up the Vietnam-Latin America Business Council to connect the country’s businessmen who were interested in Latin American Market. Since then, the chamber is responsible for organizing trade and promotion activities to connect businesses from both sides. However, exports to Argentina still face technical barriers to trade (TBTs) which have become the biggest bottleneck for trade to develop between the two countries.
