Cooperation made to exploit Latin American markets

Update: 02-12-2022 | 12:33:54

In the recent reception of the Latin American business delegation, businesses from Latin America and Binh Duong were interested in exchanging ideas on the fields of apparel, leather shoes, furniture, biotechnology, artificial intelligence; thereby, showing many prospects in expanding trade and import-export markets of enterprises of the two sides in the coming time.

Representatives of Latin American businesses are in discussion with leaders of Becamex IDC

Relationship established

Introducing the Latin American business delegation visiting and working in Binh Duong, Mr. Nguyen Van Danh – Deputy Chairman of the provincial People's Committee, said that located in the Southern Key Economic Zone - a dynamic economic region, Binh Duong has a convenient location to be near the airport and international seaport. Promoting such advantage, Binh Duong has actively invested in modern and synchronous technical infrastructure, built a complete inter-regional and inter-regional transport system to create favorable conditions for industrial development along with commerce, services and planning the construction of new urban areas. Currently, the province has built and developed 29 industrial parks on a total area of nearly 12,700 hectares.

Up to now, Binh Duong is one of the leading provinces and cities nationwide in socio-economic development to be strongly developing industry and attracting foreign investment (FDI) resources. Accumulated to November 15, 2022, Binh Duong ranked second in the country with 4,079 projects from 65 countries and territories for a total registered investment capital of nearly USD 40 billion. Export turnover reached more than USD 35 billion, import more than USD 25 billion, a trade surplus of nearly USD 10 billion has been maintained. Currently, Binh Duong's products have been exported to more than 90 countries and territories, contributing to affirming Binh Duong's brand name in the world’s markets.

Nguyen Van Dich hoped that Latin American businesses will continue to have more specific understanding of Binh Duong's potential and opportunities for investment and trade. At the same time, he invites businesses and investors from Latin American countries to cooperate in trade and invest in fields such as high-tech industry, supporting industries, information technology, high-tech agriculture, and using environmentally friendly renewable energy, especially investment in development of trade - services, investment in infrastructure and training of high-quality human resources.

Talking to us, Miguel Angel Landeros Volquarts - Chairman of the Council of Foreign Trade of Western Mexico, said: “Impressive about Binh Duong's socio-economic and urban areas, we hope that the working trip in Binh Duong will help us collect a lot of data and seek cooperation opportunities to help the two sides build a good future together."

Mr. Luu Van Khang - Vietnam Trade Counselor in Mexico, said he would create favorable conditions for Binh Duong and Latin American businesses to meet, contact and seek business cooperation opportunities. In the coming time, more activities to introduce, promote and connect trade between the two sides will be organized.

The prospects

Enterprises from Latin America and Binh Duong exchange on the fields of apparel, footwear, furniture, biotechnology, and artificial intelligence; thereby, showing many prospects in expanding trade, import and export markets of Binh Duong and Latin American enterprises in the coming time. Delegates and businesses interested in updating information on economic - trade policies of Latin American countries, analyzing the market situation, distribution channels and demands for Vietnam's export industries in the current stage to identify opportunities and solutions to promote exports and attract investment from Latin America.

Miguel Angel Landeros Volquarts also the Honorary Consul of Vietnam in Jalisco and Colima states, Mexico, affirmed that in the past 10 years, the bilateral trade relationship of Vietnam and Mexico has made great progress. Vietnam's exports to Mexico increased more than 7 times and imports from Mexico increased more than 30 times. Vietnam and Mexico still have a lot of potential to exploit in such fields as manufacturing, automobile, agriculture and tourism; thereby, bringing the relationship between the two countries to a new stage of development. Currently, Mexico has close trade activities with countries in North America, especially the United States and Canada. Mexico in general and the state of Jalisco in particular are diversifying the business markets. In addition to major countries in Asia such as Japan, Korea, China and India, Mexican businesses are very interested in the Vietnamese market and wish to cooperate and seek new development investment opportunities with Vietnamese enterprises in general and Binh Duong province in particular.

Cao Van Dong, a representative of Binh Duong Furniture Association (BIFA), said: “Furniture businesses want to seek opportunities for cooperation, trade development and investment in the Latin American markets. Given our proximity to the United States, we see opportunities locally. The remaining problem is development policies, incentives, investment procedures, human resources to be able to cooperate and invest. Vo Tan Luc, CEO of HDLINKS Forwarding Services Co. Ltd. in Binh Duong said: “After a meeting with Latin American businesses, I wish to strengthen cooperation to promote goods trade. We look forward to receiving support to remove difficulties and obstacles when carrying out export and import procedures to the Latin American market.”

Nguyen Van Danh also hoped that this would be a good start to promote the investment cooperation relationship for mutual development for mutual benefits between businesses of the two sides.

Reported by Tieu My – Translated by Vi Bao

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Cooperation made to exploit Latin American markets

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