Firms seek to bolster exports to Mexico

A virtual trade promotion and cooperation conference for businesses of Vietnam and Mexico will be held on March 23-24.

Nearly 60 firms of the two countries have registered to join the event to be jointly organised by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and the Trade Office in Mexico, together with the Mexican Secretariat of Economy.

It aims to help localities, firms and cooperatives supplying agro-fishery-forestry products and foodstuff of Vietnam seek partners and chances to export to Mexico; and introduce the countries’ staples and know-how when entering the markets.

The conference will host sessions assisting Vietnamese firms seeking the supply of electronic devices, air conditioners, optical instruments and medical equipment from Mexican manufacturers.

In the first two months of 2022, Vietnam enjoyed a trade surplus of nearly 600 million USD with Mexico, as the country shipped products worth 673.3 million USD in the period, rising 18.5 percent from the same period last year.

Of note, Vietnam and Mexico are both signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which serves as a leverage for bilateral trade.

Vietnam has ample room to increase shipments to Mexico as its exports currently make up only 1.3 percent of the latter’s market.

Each year, Mexico imports about 900,000 tonnes of rice, 1.8 billion USD worth of garment-textile and 1.1 billion USD of footwear./.