Opportunities for greater trade and investment cooperation between Vietnam and Paraguay were introduced at a meeting with Paraguayan businesses in Asuncion capital on May 29.
Addressing the event, Vietnamese Ambassador to Argentina and Paraguay Nguyen Van Dao briefed the participants on Vietnam’s socio-economic development and its trade and investment policies that the country has put in place in its industrialization and modernization process.
He noted with satisfaction the strong development of relations between Vietnam and Paraguay in particular, and Latin America in general, and invited Paraguayan enterprises to attend the Vietnam-Latin America trade and investment ministerial forum to be held in Hanoi this July.
The Paraguayan enterprises hailed Vietnam’s economic achievements and showed their interest in establishing partnerships with their Vietnamese counterparts. Some of them affirmed that they will attend the upcoming forum in Hanoi.
Two-way trade turnover between Vietnam and Paraguay hit a record high of $51 million in 2011, of which $13.7 million was generated from Vietnamese exports, according to statistics of the Paraguayan Customs Office.
Vietnam exports to Paraguay sport wear, electric fans, motorcycle accessories, water pumping machines, rubber and garments. It mostly imports soyabean powder and oil, beef, wheat, maize, tanned hide, timber and cotton.